Payment protection insurance

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.

AS Inbank Branch
AS Inbank Branch (legal entity code 305340173, registered office address Konstitucijos pr. 18B, 09308, Vilnius) is contractually obliged to carry out insurance product distribution activities, cooperating exclusively with a single insurer – If P&C Insurance AS branch (legal entity address T. Narbuto g. 5, LT-08105 Vilnius. Tel.: +370 5 210 8800).

While carrying out this activity, the AS Inbank Branch is considered an insurance intermediary (insurance agent) company and is registered in the If P&C Insurance AS branch’s list of insurance product distributors (Agents), which is published on the website of If P&C Insurance AS Lithuanian branch – Insurance product distributors (Agents) at: https://www.if.lt/tarpininku-sarasas.pdf.

Shareholding and capital ties

• The insurance intermediary company and its representative do not directly or indirectly own any shares or other capital parts in If P&C Insurance AS Lithuanian branch that provide 10 percent or more of the voting rights or constitute 10 percent or more of the capital.
• If P&C Insurance AS Lithuanian branch or its parent company does not directly or indirectly own any shares or other capital parts of the insurance agent that provide more than 10 percent of voting rights or constitute more than 10 percent of the capital.

Insurance Intermediary

• The insurance intermediary does not provide recommendations regarding insurance products.

Complaints
Complaints regarding the insurance agent's activities may be submitted directly to the insurance agent or the insurance company.
If you (the policyholder) have comments or are dissatisfied with the services of our company, you may:

• Fill out the feedback form on the website: www.if.lt/atsiliepimai
• Email us at: atsiliepimai@if.lt
• Write to us by post: T. Narbuto g. 5, 08105 Vilnius