Branch Network

About insuring card and loan debts

Can I apply online for credit and loan insurance plans?

Yes, you can apply for the Alpha Credit Protection and Alpha Credit Protection Plus plans. You can apply on your computer, using myAlpha Web:

  1. On the home screen, click on “New Products”.
  2. Scroll down to the “Insurance products” section and choose between Alpha Credit Protection and Alpha Credit Protection Plus.
  3. Choose the card you want to insure and find out your monthly premiums and the covers provided by the plan. Click on “Continue”.
  4. Confirm your personal details. Read and accept the Insurance Intermediary Notice and the Personal Data Notice. Click on “Continue”.
  5. Confirm your application details and click on “Confirm”.

Your application is complete. Within 24 hours we will inform you whether your application has been successful by email or SMS. Premiums are payable monthly along with your minimum or full card payment.

Before you receive this confirmation, you can track your application through myAlpha Web: History > Product Applications > Alpha Credit Protection / Alpha Credit Protection Plus.

Alternatively, you can apply at an Alpha Bank branch near you.

Should I meet any requirements if I want to insure regular payments towards my debt?

Yes. Depending on your chosen plan, you should meet different requirements:

  • For Alpha Individuals Insurance, you must be up to 62 years old at the start of the plan and be the borrower.
  • For Alpha Borrowers Insurance, you must be up to 60 years old at the start of the plan and be the borrower or the guarantor. You must also fill in the health status questionnaire. You will not be charged for any diagnostic tests you may be asked to undergo.
  • For Alpha Credit Protection, you must be 18 to 60 years old at the start of the plan and be a credit card holder.

Can I cancel the plan before loan maturity?

Yes, at any Alpha Bank branch or with the insurance company.

I have taken out a mortgage jointly with my wife. Can we both apply for insurance?

Yes, as long as you meet the requirements.

Do credit life insurance policies also cover hospitalisation costs?

No. However, they do cover your monthly payments for a limited period in case you are hospitalised.

I do not bank with Alpha Bank. Can I get Alpha Credit Protection or Alpha Credit Protection Plus;

No. The insurance plan is addressed exclusively to our customers who hold an Alpha Bank credit card.

Can I insure more than 1 card with Alpha Credit Protection or Alpha Credit Protection Plus?

Yes, you apply separately for every card you want to insure.

Up to what age does Alpha Credit Protection or Alpha Credit Protection Plus cover me?

Up to 65 years old. However, if you are over 60 years old you cannot apply.

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.

Can I change my mind and cancel the insurance?

Yes, within 14 days from the time you receive the insurance policy.

To withdraw from the agreement, you must send a letter to Generali by registered mail: 40 Syggrou Avenue and Lagoumitzi Street, 11745 Athens.

Can I insure my personal loan at any time?

Yes. You can get the insurance whenever you want, provided you meet the conditions.

Can I insure my mortgage loan at any time?

Yes. You can get the insurance whenever you want, provided you meet the conditions.

What does the Alpha Borrowers Insurance Plus plan offer?

The Alpha Borrowers Insurance Plus was available until 24.05.2021.

If you become unemployed

In case of involuntary unemployment, the monthly interest-bearing instalment of your mortgage loan is paid for the time you remain unemployed.

To receive payment, the following must apply:

  • You are a private sector employee with an open-ended work contract.
  • You have worked at the same employer for at least 6 months.
  • The unemployment status is registered with OAED.
  • 60 days have passed from the first unemployment benefit payment.

The maximum amount paid covers 6 monthly interest-bearing instalments. In total, up to 18 monthly instalments are covered for the entire loan term.

If you are temporarily unable to work

In case of temporary total inability to work following an accident or illness, the monthly interest-bearing mortgage loan instalment is paid.

To receive payment, the following must apply:

  • You are a civil servant, freelance professional or have an open-ended work contract.
  • The temporary disability is recognised by your main social security fund.
  • 60 days have passed from the first disability benefit payment.

The maximum amount paid covers 6 monthly interest-bearing instalments. In total, up to 18 monthly instalments are covered for the entire loan term.