„LIFE“ INSURANCE RELATED TO AN INVESTMENT FUND

Insurance object and subject

This insurance is a variety of the classic Life insurance where any insurance payments are fully or partially dependent on the value of shares issued by investment companies and contractual funds performing their business under the legal conditions and procedure of public tender of securities, as well as shares in joint investment schemes, or on the value of assets included in the insurer’s in-house funds.

The insured person chooses his investment strategy himself. The investment strategy comprises of any specific groups of investment funds chosen by the insured person, where his insurance premiums and the percentage ratio for investment in each specific group of funds will be invested.

Covered risks

• Death during the insurance term – insurance value + additional interest as to the date of death
• Permanent loss of ability to work in result of insured accident up to 30%-50% – percentage of the insurance sum equal to the percentage of lost ability to work
• Permanent loss of ability to work in result of insured accident over 30% – 50% the insured person is exempt from further payment of premiums and remains effective for the full amount of the insurance sum.
• Survival – insurance sum plus any additional income accrued in the term

Additional coverage

• Exemption from payment of premiums in case of permanent disability over 50% caused by an accident
• Protection from inflation

Insurance sum

– to be agreed at signing the insurance contract.

Currency

BGN, EUR or USD

Contract term

5 to 25/30 years

Insurance premium:

Застраховка „Живот”

• One-off payment
• In instalments (every 1, 3, 6 or 12 months)

Tax relief

• For the customer: up to 10% of the taxable income of individuals
• For the employer: as per the Corporate Income Tax Act

Documents and forms at signing the insurance contract

• A request for conclusion of „Life“ insurance and a health declaration thereto:
• Financial questionnaire (for policies at the value of over 60 thousand BGN or 30 thousand USD/EUR)
• Medical tests – over certain insurance sums
• A declaration of funds origin – for insurance premiums due throughout the term at the total value of over 30,000 BGN
• Insurance policy

Early termination of the insurance contract

• The Contracting person is entitled to early termination of the insurance contract, and receiving the insurance redemption value, provided the insurance includes the right to redemption
• The insurer is entitled to terminate the effect of the Contract in compliance with the General terms and conditions