Credit Protection Insurance for Mortgage Loans

The insurance covers events occurring worldwide, with the exception of the "Involuntary unemployment" risk in the "Full" package, where events occurring on the territory of the Republic of Bulgaria are covered.

• For newly issued credits, the insurance term is equal to the credit repayment period.

• For existing credits, the insurance term is equal to the remaining credit repayment period.

In case of death, the following is paid:

• the outstanding credit balance as of the date of death;

In case of Permanent Total Disability, the following is paid:

• the outstanding credit balance as of the date the risk occurred – when the term of the TELK expert decision is longer than the remaining term of the credit;
• the monthly credit installments for the term of the TELK expert decision – when the term of the TELK expert decision is shorter than the remaining term of the credit;

In case of Involuntary Unemployment and Temporary Disability, the following is paid:

• up to 12 (twelve) monthly installments for the term of the credit, but no more than 6 (six) consecutive monthly installments per insurance event.
• * For self-employed individuals or pensioners who cannot benefit from the „Involuntary Unemployment“ risk – increased coverage for „Temporary Disability“ risk applies. In these cases, the Insurer pays the Policyholder („Bank DSK“) a monthly credit installment for the period of temporary disability, and the insured person receives additional compensation equal to half a monthly installment for each month of disability.

The Beneficiary (the person to whom the insurance compensation is paid) under this insurance is „Bank DSK“ EAD.