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Business owner loan protection insurance
Protect yourself and your business
Alpha Bank SA, in addition to its status as a credit institution, also acts as an insurance intermediary. Find out more about Alpha Bank's intermediation (only in Greek).
Discover the features
What it covers
Business loan repayment
You are covered for the outstanding balance of your performing business loan in case of:
- Disability pension granted by your main social security fund for at least 24 months, following a 67% disability rating.
- Loss of life due to illness or accident.
This way, your business and family are not burdened with any open commitments.
Difference to be collected
If the insured amount exceeds the balance of the business loan, then the difference is paid to:
- You, in case of disability
- Your beneficiaries, in case of loss of life
What are the insurance amount and term
Up to the entire loan amount
You can insure up to the entire amount of your business loan agreement.
If you are over 50 years old, you can insure an amount up to €300,000.
Without health questionnaire for up to €50,000
You don’t need to fill in a health questionnaire if you are:
- 18-50 years old and insure up to €50,000
- 51-60 years old and insure up to €25,000
With health questionnaire for €50,000+
For amounts over €50,000, you need to fill in a health questionnaire regardless of your age.
In some cases, we may ask you to undergo a health check.
For 2, 3 or 5 years
Choose the term of your insurance, for 2, 3 or 5 years.
The insurance coverage ends when you turn 75 years old.
What’s the premium and how you pay it
Depending on the amount you’ve insured
The annual premium is 0.4123% of the insured loan amount.
For amounts over €200,000 and depending on your age, Generali determines the premium.
By standing order
Pay the premium by standing order from the account you choose when you apply. Alternatively, you can set up a standing order on your credit or debit card.
Premiums are paid every 3 months, 6 months or year.
What to do in case of an unexpected event
Contact Generali, to report the hospitalisation, disability or loss of life and make a claim:
- 801 111 222 333
- +30 210 809 6100
Then, Generali assesses your claim and starts the insurance payout process.
What you need to get the insurance plan
Apply provided you...
- Are 18-60 years old.
- Are up to 65 years old at maturity for total permanent disability coverage.
- Are up to 70 years old at maturity for loss of life coverage.
- Participate in the loan as an owner, legal representative, business manager or loan guarantor.
- Have booked an appointment at a branch near you.
Have at hand...
The supporting documents to start banking with us or to update your details, if you:
- Are a freelancer / own a sole proprietorship.
- Own an SA, OE, PC, LTD or EE.
- Want to update your personal details.
Explore other options
Any questions?
Find the answers you need about business loan protection insurance.
Do I get any tax benefits by insuring my business loan payment?
What documents do I or my beneficiaries need to receive the insured amount from the Business owner loan protection insurance?
In case of loss of life:
- Death certificate, stating the cause of death.
- Medical examiner’s report, if the death was caused by accident.
In case of permanent, total inability to work:
- The decision of the main social security fund for the pension, stating the exact cause, the time of appearance of first symptoms, a 67%+ disability rating, and a pension approval period of at least 24 months.
- A certificate by the main social security fund with the exact date when the disability pension is awarded.