Ethniki Insurance plan titled “Life insurance for mortgage loan borrowers”, offered by the National Bank of Greece, secures your loan repayment, in case of death, securing your family at the same time.

More specifically, in case the insured (borrower/guarantor) dies due to illness or accident during the term of the insurance cover, Ethniki Insurance undertakes to compensate the National Bank by paying an amount equal to the outstanding balance of the loan on the date of the insured’s death, depending on the percentage of their participation in the insurance and up to three (3) due installments (with a maximum of €200,000) in accordance with the terms and conditions of the plan.

In brief:

  • Simple processes
  • Insure your entire loan or part of it
  • Premiums reducing as the loan is being repaid.

Life insurance for mortgage loan borrowers in details

Life insurance for mortgage loan borrowers and guarantors is provided as a group insurance policy with the following characteristics:

  • Minimum age of the insured person at the start of the policy 18 years old
  • Maximum age of the insured person at the start of the policy 65 years old
  • Maximum coverage age: 70 years old
  • Maximum insured capital (€200,000).
  • It only applies to permanent residents in Greece
  • The insurance product becomes available to you, only if you have been accepted to the insurance, after having filled in the health questionnaire, included in the Participation Application.
Very simply and easily, you get the chance to be insured and secure your family, with a premium calculated on a monthly basis as a percentage on the outstanding balance of the loan. This is why the premium reduces over time, following the reduction of the outstanding balance.
The insurance ends with the repayment of the loan, or at the insured person’s 70th birthday, whichever may occur first. It also stops, if you wish it or if an insurance risk occurs or if the premium or the loan installments are not paid.
Every borrower/guarantor, who is a natural person, can be insured, either for the entire amount of the loan or for part of it. Said part cannot be lower than 50% at least for one borrower but the total percentage of the loan covered by all insured persons together shall be at least 100%. In order for the guarantor to be insured, at least one borrower should also be insured for an amount equal to at least 50% of the loan capital.

All the information you may need.

In the following documents you will find all the info you may need.

Pre-contractual information on the life insurance plan for mortgage loan borrowers and guarantors

Insurance Intermediary Form

Insurance Terms

Important notes:

Terms and conditions apply.

This is an advertisement and is intended for general information purposes only and in no case replaces the pre-contractual information as laid down in the applicable legislation, the policy and its general and specific terms. The full pre-contractual and contractual information for said plans are available at the web page as well as at the National Bank of Greece SA branches, where our certified insurance intermediaries will inform you responsibly and consistently about the characteristics, coverages, detailed terms and conditions of the plan. The above mentioned information are also available electronically for the plans available through Internet and/or Mobile Banking.

The insurance plans have been developed by the Ethniki Insurance Company and are distributed by the branch network of the National Bank of Greece SA, with registered seat at 86 Aiolou st., 10559 Athens, General Commercial Register (G.E.MI) no 23790100, Company Reg. No. 311481. To find out more, click here.

The insurance plans are distributed only by qualified NBG staff who are certified insurance mediators. The Bank is registered with the Special Registry of Athens Chamber of Tradesmen under Reg. No. 1028 as an insurance agent. The Special Registry data are published on the electronic platform "Single Information Point for Active Insurance Intermediaries" (, via which you can verify NBG's registration with the Special Registry.

  • Identity card or passport
    Your ID card or passport must be valid.
    Tell me more

Any questions?

In order for the guarantor to be insured, at least one borrower should be insured for an amount equal to at least 50% of the loan capital.
The plan covers the repayment of your mortgage loan in the event of the borrower’s and/or guarantor’s death due to illness or accident, depending on the insurance percentage, and more specifically the outstanding loan balance and up to 3 due loan installments (up to €200,000), at the time of the insured person’s death.

More digital capabilities for you

Download the NBG Mobile Banking app

The NBG Mobile app gives you a host of benefits, from bill payments and shopping to transactions and managing your housing loan. Download the app to your iPhone or Android and simplify your transactions.
Download the NBG Mobile Banking app

You may also like

See how we can meet even more of your needs.

e-Value Banking Bundle

e-Value Package

Discover the privileged, digital banking services we offer you
Tell me more
Value salary account

Value salary account

Learn more about this privileged salary account
Tell me more
Value Plus Banking Bundle

Value Plus Package

Satisfy your daily needs and enjoy even more benefits
Tell me more
Salary Reward Payroll Account

Salary reward

Learn more about the special range of bonus features available to salaried employees or pensioners.
Tell me more
I study Student Life Account

Student Life Account

Meet your student life needs from tuition fees to everyday transactions
Tell me more
Value Package - Bill Payments & Health Check

Value Package

Explore an attractive package of banking services on favorable terms.
Tell me more
Premium Banking Bundle

Premium Package

Discover a complete, top-quality banking experience
Tell me more

Go For More

Get rewards for every transaction you carry out with us
Tell me more

Our customer service team is here for you

Our highly trained team is waiting to answer any questions you may have, in person or by phone.