Child Insurance

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Child Insurance is an opportunity for parents to provide appropriate financial security for the most important moments in the life of their child – attaining majority, graduating university, buying a car, initial installment for its own home, etc.

This insurance can be a great gift from relatives of a newborn child – grandmother, grandfather, aunt, uncle, etc. They could ensure financially the new family member by providing him/her with good education or confident financial start on attaining majority.

 

Child Insurance can be concluded for children aged from 0 to 18 years at the beginning of the insurance contract.

 

 

Main covers of the insurance:

 

1.  Survival of the insured person at the end of the insurance contract

  • The sum insured shall be paid upon survival and is determined in the insurance contract. It may also be paid to the insured person by deferred installments (for 1 to 6 years’ period).

2.  Permanently reduced ability or disability of the insured person over 50% due to accident

  • When sum insured under this risk is paid the policy shall be terminated.

 

Additional covers of the insurance:

 

1.  Waiver of premiums in the event of the death or permanently reduced ability of the policyholder over 50%, due to accident that occurred after the commencement of the insurance contract.

  • The policyholder shall be exempted from payment of premiums by the end of the insurance contract while the insurance remains in force for the entire sum insured under main cover.

2.  Temporary disability of the insured person due to accident

  • A percentage of the sum insured depending on the period of temporary disability shall be paid to the Beneficiary.

 

3.  Temporary disability of the insured person due to common disease

  • A percentage of the sum insured depending on the period of temporary disability shall be paid to the Beneficiary.

 

4.  Permanently reduced ability or disability of the insured person due to common or infectious disease

  • A percentage of the sum insured under the additional cover, corresponding to the percentage of lost ability shall be paid to the Beneficiary.

Insurance period: from 3 to 25 years.

 

Payment terms: single or yearly premium which can be deferred to monthly, quarterly and six-monthly installments.

 

 

Currency: EUR / BGN

 

Territorial range: worldwide

 

Advantages:

  • "Child Insurance" provides maximum security and guarantee for the life and the future of your children.
  • You may plan what amount to be accumulated and when exactly your child will be able to operate with it.
  • With small monthly installments you can accumulate significant capital for your child.
  • Concluding "Child Insurance" enables you to increase the initial sum insured with any annual yield distributed from management of reserves.
  • Upon your decision the installments can be changed.
  • Provides you possibility to invest your savings in a single installment for a better life of your child.
  • Selection of the currency of the insurance cover.
  • The proceeds and benefits are not a subject to taxation.
  • Possibility to add additional risks to the insurance in order to extend insurance cover for you and your child.