CSOB Insurance to Mortgages

Now you can arrange loan insurance to all CSOB Mortgages for the case of death, permanent disability and also for the case of inability to work and loss of employment. Insurance can be used by citizens older than 18 years with permanent residence in the Czech Republic.

Benefits

Insurance is arranged when the CSOB Mortgage contract is signed. You can arrange it also additionally, however, at the latest 6 months after signing the Mortgage contract. In the case of occurrence of an unfavourable life event, you can be sure that your mortgage loan will be repaid according to the option chosen by you.

Other benefits include:

favourable price of insurance derived from the amount of mortgage loan repayments,
three options of insurance, differing in the price and the scope of insurance cover,
to one mortgage loan, it is possible to arrange insurance for two persons under the loan,
payment of the balance of the mortgage loan in the case of disablement or death (depending on the arranged scope of insurance),
monthly repayments of the loan in the case of inability to work or loss of employment up to CZK 25 thousand per month for a period as long as 12 months,
possible arrangement of insurance backwards up to 6 months after conclusion of the mortgage loan contract,
you can arrange insurance without having to go through a medical check; it is sufficient to fill in a simple and short questionnaire with a declaration of the insured person,
amount of the insured sum up to CZK 3.5 million,
insurance for the case of death or full disability can be arranged also for a smaller scope of insurance cover, min. 25 % of the initial amount of the loan,
switching between individual insurance options is possible at the client’s discretion in the course of insurance according to the stipulated terms and conditions:
- from a higher-level option to a lower-level option at any time (e.g. from option 3 to option 1),
- from a lower-level option to a higher-level option within 6 months of conclusion of the loan contract (e.g. from option 1 to option 3).

Points of interest

You can arrange insurance as one of the following options:

Option 1 – insurance for the case of death or full disability.
Option 2 – insurance for the case of death or full disability and inability to work.
Option 3 – insurance for the case of death, full disability, inability to work and loss of employment.

Price of insurance

The fee for insurance is based on the amount of the loan repayment. Individual rates for the above-mentioned options are indicated in the Price List.

Example
An applicant concludes CSOB Mortgage Loan contract with the amount of loan of CZK 1,000,000, 25-year maturity and 6 % interest rate. He shall pay for individual insurance options:
Insurance for the case of death or full disability	CZK 225
Insurance for the case of death or full disability or inability to work	CZK 311
Insurance for the case of death, full disability, inability to work and loss of employment	CZK 470

Conditions for provision

Option 1 and option 2:

age 18 – 54 years (including),
permanent address in the territory of the Czech Republic,
the insured is not unfit to work,
for the past 5 years, the insured has not been unfit to work or the doctor has not recommended the insured to stay out of work due to the inability to work for a period longer than 3 weeks without interruption (with the exception of fractures, appendectomy, tonsillectomy and pregnancy),
the insured did not suffer, or is not suffering, from a heart disease of a circulatory system disease, insulin-dependent diabetes, a chronic disease of respiratory air passages, kidneys (except renal stones), abdominal viscera, alcohol or drug addiction,
the insured has not been treated in oncology for the past 5 years for a malign tumour or leukaemia.

Option 3:

the insured is employed or works in the civil service for an indefinite period of time, the insured has not given or has not been given notice of termination of employment and has not concluded an agreement on termination of employment with the employer nor is the insured in a trial period,
the other conditions are the same as in options 1 and 2 (see above).

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