Main conditions to apply for Loan Payment Insurance:
- You have Housing loan or Consumer loan agreement with Luminor which will be valid for at least a year.
- One insurance contract is linked with only one loan, either consumer loan or housing loan. If you have several loans, then regarding each of them new insurance contract should be concluded.
- Only borrower and coborrower can apply for this product.
- You can apply for Loan Payment Insurance if you have signed loan agreement in Luminor Bank in the past 6 months for mortgage loan or in the past 3 months for consumer loan.
Protection level options
In case of insured event the Insurer will pay every month the amount of insurance compensation chosen in the insurance contract. When you apply for Loan Payment Insurance you may choose preferable coverage – from minimal protection (EUR 100) to optimal protection when insurance compensation matches your loan monthly payment.
| Your monthly loan payment, EUR | Monthly insurance compensation, EUR | Monthly insurance premium, EUR |
|---|---|---|
| 0.01-100.00 | 100 | 4.00 |
| 100.01-200.00 | 200 | 8.00 |
| 200.01-300.00 | 300 | 12.00 |
| 300.01-400.00 | 400 | 16.00 |
| 400.01-500.00 | 500 | 20.00 |
| 500.01-600.00 | 600 | 24.00 |
| 600.01-700.00 | 700 | 28.00 |
| 700.01-800.00 | 800 | 32.00 |
| 800.01-900.00 | 900 | 36.00 |
| 900.01-1000.00 | 1000 | 40.00 |
