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Alpha Borrowers mortgage loan insurance
Protect yourself and your family
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
Instalments paid for up to 12 months
With the Alpha Borrowers insurance plan you ensure that the interest-bearing instalments of your mortgage loan, i.e. instalments repaying both interest and principal, will be paid on time every month in case you:
- Are unable to work following an accident or illness and your main social security fund awards you a 67% disability rating. The instalments are paid for the months when disability is awarded, for up to 12 months.
- Are hospitalised following accident or illness. 1 instalment is paid for each 15-day hospital stay and up to 8 instalments in total.
Mortgage loan repayment
You are covered for the outstanding balance of your performing mortgage loan in case of:
- Lifelong disability pension granted by your main social security fund following a 67% disability rating.
- Loss of life due to illness or accident.
Protection for your family
In case of loss of life due to a traffic accident, your legal beneficiaries receive an additional amount standing at:
- 25% of the outstanding performing loan balance for professional drivers
- 50% of the outstanding performing loan balance for non-professional drivers
The maximum amount is €100,000.
What amount you can insure
You can insure up to the entire amount of your mortgage loan agreement.
You must fill in a health questionnaire. In addition you must undergo medical tests if you are:
- Up to 50 years old and want to insure more than €200,000.
- Between 51 and 60 years old and want to insure more than €120,000.
You undergo all the medical tests that are required for the insurance for free.
If you are not the only one being insured, the minimum amount you can insure is determined based on the age of the youngest borrower.
What’s the premium and how you pay it
Depending on your loan balance
The premium:
- Is €0.3435 for every €1,000 of loan principal.
- Decreases each month, because the balance of your mortgage loan decreases.
By monthly standing order
You pay the insurance premium by standing order from the account you use to pay your loan.
Payment is made monthly.
What to do in case of an unexpected event
Call 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 payment process.
Can I get the Alpha Borrowers insurance plan?
Apply provided you...
- Are up to 60 years old at the start of the plan.
- Are a borrower or guarantor on an Alpha Bank mortgage loan.
- Have filled in the health questionnaire or have undergone medical tests.
- Have booked an appointment at an Alpha Bank branch.
Have at hand...
The necessary supporting documents depending on whether you:
- Already bank with Alpha Bank and have updated your details.
- Want to start banking with us or haven’t updated your details.
Explore other options
Any questions?
Find the answers you need about the Alpha Borrowers mortgage loan insurance plan.
Up to what age does the mortgage loan insurance cover me?
The covers expire when you turn:
- 75 years old, for the loss of life cover.
- 65 years old, for the permanent total disability cover.
- 65 years old, for loan instalment payments in case of 15-day hospital stay.