In January-October 2021, Sber credit card holders activated life and health insurance policies almost twice as often as in the same period last year, with the number of activations reaching 1.00. 3 million.
The Life and Health Insurance Program for Credit Card Holders is designed to pay off credit card debt in the event of unforeseen events. If the insured value exceeds the customer’s credit card debt, the balance is paid to the insured person or their heir. In addition to the basic insurance risks, the program covers the risks of the client’s temporary incapacity, of temporary incapacity when taking care of a sick family member, as well as the diagnosis of the most deadly diseases. . Insurance coverage is double the credit card debt as of the date of the report.
According to Sberbank Life Insurance, payments to credit card holders from January to October 2021 increased 120% year-on-year to reach 77.3 million rubles. Women with credit cards insure their life and health 50% more often than men. Ninety percent of policies are written by people aged 22 to 65, 9% by people reaching retirement age and 1% by people under 22.
Customers decide independently whether or not to take out a policy. The cost of insurance is calculated monthly based on the amount of credit card debt. If there is no debt, or if it is less than 3000 RUB, the fees are not debited and no insurance is activated. A credit card holder can subscribe to a life and health insurance program in the SberBank Online mobile app or at Sber branches.
Sberbank of Russia published this content on December 07, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 07 December 2021 09:31:06 UTC.