Payment protection insurance

Financial security during uncertain times

Our payment protection insurance helps you stay on track with your loan and installment payments during periods of financial uncertainty, such as losing your job or overcoming a health struggle.

The peace of mind you deserve

Payment protection insurance boosts your financial security by covering your repayments should you lose your income due to an illness, accident, or redundancy.

Finances guarded

Payments are covered for up to 6 months in case of income-loss due to redundancy or health issues.

Time to recover

Get the time you need to fully heal after an accident or operation, without worrying about loan payments.

Loved-ones safe

Covering the remaining loan balance, saving family members or heirs from being burdened with debt.

Affordable

Just 6% of your monthly loan or installment payment with the flexibility to cancel at any moment.

Good to know

Job loss

Job loss insurance activates if your employment ends due to redundancy, company bankruptcy, or termination due to health, registered with the employment service, and the insurance has been active for at least 90 days.

Temporary incapacity

Temporary incapacity insurance applies if you are unable to work due to illness or accident confirmed by a doctor, and the insurance has been active for at least 30 days.

Your passing

One-time compensation that covers the remaining loan balance to keep your family from taking care of your financial obligations amidst the most trying times.

Frequently asked questions

When taking a loan, you can choose to add payment protection insurance through If P&C Insurance. This helps cover your loan payments if something unexpected should happen.
Payment protection insurance helps if:

You can’t work due to an accident or illness, whether it’s temporary or permanent.
You lose your job due to redundancy, or your employer’s bankruptcy.
You’re temporarily unable to work due to an illness or accident involving you or your child.

In case of the borrower’s death, the insurance covers the remaining loan balance, so it’s not passed on to the family or heirs.

There are certain situations where payment protection insurance won’t cover your loan. For example:

The illness, injury, or unemployment started or was known before your insurance coverage began.
You lose your job during your probation period due to personal or disciplinary reasons.
Temporary incapacity caused by pregnancy or childbirth (except in the case of complications).
Situations related to alcohol or drug use, involvement in criminal acts, or events caused by war or terrorism.

Yes, unemployment coverage has a 90-day waiting period after the insurance starts, and there is a 30-day waiting period for other coverages (such as illness or accident). Events occurring during these waiting periods are not covered.

The cost of payment protection insurance is 6% of your monthly loan payment, including interest. This amount is recalculated every month and can change based on fluctuations in the EURIBOR rate and interest rates.
If the EURIBOR rate or interest rate change, your insurance payment is adjusted as well.

If an insured event occurs, fill out an insurance claim as soon as possible. In the policy number field, simply enter “Inbank”. After submitting the claim, you’ll be contacted with instructions on what to do next.

Terms and Conditions Insurance Information Leaflet