Open Loan Repayment Program for Professionals

All you need to know on the Open Loan Repayment Program for Professionals by HSBC:

Key Benefits

• Repayment of the initial approved loan amount in case of death
• Repayment of the initial approved loan amount in case of total disability due to accident or illness
• Monthly compensation in case of temporary disability due to accident

The Open Loan Repayment Program for Professionals by HSBC also offers:

• Low annual cost
• The Program always covers the initial approved loan amount
• Coverage of monthly payments for a long term
• Simple insurance procedures
• No medical questionnaire
• The compensation amount, which is the same with the Open Loan Annual Credit limit, is given to beneficiaries that the insurant has chosen, in case of no remaining loan debt

Criteria

The Program is addressed to loan customers who, by the time of the insurance, are:

• 18 years old, minimum
• 64 years old, maximum
• in good health
• insured

Premiums

The annual mixed insurance cost is 0,914%, which is translated to €0,914 for every €100 of the insured capital. The premium of the first term is paid at loan disbursal while the following premiums are paid annually at the date of the disbursal.