All cash and short-term loans at Zagrebačka banka valued up to 200,000 kuna can be insured by paying a monthly premium. For example, for a loan of approximately 75,000 kuna, it will be necessary to set aside about 75 kuna per month in case of inability to repay the loan due to illness or termination, or even less in the case of death.
The contract for this completely new bank insurance product on the domestic market was signed by member of the Management Board of Zagrebačka banka Tomislav Pustišek and the CEO of Cardif Insurance in Croatia Ana Ivančić. This product is also the first in the offering of this insurance company, which has recently entered the Croatian market and operates within one of the largest groups in the world, BNP Paribas.
The insurance contract that repays the loan in case of illness and termination will initially apply to newly concluded loans, and over time to existing ones. The product is intended for individuals who, for example, due to illness lasting longer than 45 days, after which their employer no longer pays them, or due to termination, cannot repay the loan. The insurance company takes over their repayment, but for a maximum period of one year in case of illness, six months in case of termination, and the entire repayment is taken over by Cardif in the event of death.
However, if during the loan repayment period the client is unable to repay the loan due to illness or termination on two occasions, the insurance company can intervene with repayment twice. The loan insurance contract can be signed by individuals up to 69 years of age. The basis for this type of insurance, which is common in foreign markets, was among other things in a survey conducted by Cardif in 18 countries. When asked which events people fear the most, the top-ranked was serious illness, followed by death, job loss, traffic accident, serious family accident, unforeseen expenses, etc. (Lidija Kiseljak)
