Why is voluntary borrower insurance needed?

Participation in the voluntary life insurance program for borrowers of personal loans of PJSC «BANK URALSIB» is voluntary and optional for obtaining a personal loan. Participation or non-participation in the said voluntary insurance program is not a condition for the issuance by PJSC «BANK URALSIB» of a personal loan.

Within the personal lending program, the annual interest rate is reduced during the term of the voluntary life and health insurance agreement that meets the requirements set out below and is concluded by the Borrower together with the Credit Agreement.

The voluntary life and health insurance agreement must:

• Be paid in a lump sum for the entire insurance period,
• Mandatorily include insurance of the Borrower in the event of death and in the event of disability of group 1 or 2 as a result of an accident or illness.
• Fully cover the amount of the principal debt of the loan.
•  Be valid in any territory (contain no exclusions by coverage territory)
  

The fact of concluding the voluntary insurance agreement is confirmed by submitting to the Creditor the agreement and documents confirming payment of the insurance premium.

The interest rate will be increased if the basic program of the voluntary life and health insurance agreement that meets the specified requirements and was concluded together with the Credit Agreement ceases to be effective.