You can choose the duration of the programme, starting from 10 years, provided that at maturity the insurance policy holder is not over 75 years old.
Participation in the programme
You can participate in the programme by making monthly payments direct debiting your bank account or credit card (issued by NBG).
Regular monthly payments
- The standard insurance premium, adjusted to the level you're comfortable with (the minimum being €50 and the maximum €500).
- The premium for meeting the Insurance Premium Payment Exemption cover.
(*) Along with the first premium you are required to pay €10 one-off for policy fees. Charges in favour of the Guarantee Fund apply to regular monthly payments and Policy Fees.
To enhance the savings process, the programme, at the completion of each year of its duration, includes automatic upward adjustment of the premium, currently at a rate of 3%.
- The programme provides for your family members: NBG's PAIDIKO scheme provides for exemption from the payment of premium (monthly payment) up to the maturity of the programme in the event of total permanent disability due to accident. In addition, it protects your family members in the event of death, rendering to them the total basic premiums paid and any dividends, plus aggregate outstanding payments up to maturity, in the event of death by accident.
- Formation of guaranteed capital upon maturity.
- Possibility of generating additional sums (dividends) which are not guaranteed and depend on investment returns.
- Option to choose payment of the guaranteed capital upon maturity, depending on the child's needs at the time, as follows:
- in a lump sum
- in the form of guaranteed monthly payments for a fixed period of time (5 or 10 years).
Extraordinary payments to reinforce your insurance programme
You can reinforce the programme by making extraordinary payments six months after the commencement of the programme and once every insurance year
(*) Charges in favour of the Guarantee Fund apply to extraordinary premium payments. The extraordinary payment is equal to the net annual premium, the minimum being €1,000.
Reduction of premium
If you wish, you can have your premium reduced, once annually throughout the programme. Note, however, that the reduced premium cannot be lower than the minimum acceptable premium at the reduction date (currently €50).
Early withdrawal and redemption option
You can choose early withdrawal and redemption of your policy once you have paid six (6) monthly premium instalments. The total early redemption value includes any accumulated uncollected dividends. The guaranteed value of the programme, each year, is set out in the Redemption Table which you receive together with the Insurance Application - Insurance Policy.
Option to participate in the following programmes:
Hospital Care - Health Insurance Programme for adults and children at favourable rates:
- Children's package: €141 annually.
- Adult package: €157 annually.
- Vehicle Insurance Plan: Private Car and Private-use farm truck insurance plans are available with a 10%* discount on comprehensive premiums, for specific types of cover.
*The discount rate for new insurance policies to be put into effect and paid by 29/12/2017 stands at 16%.
The increased discount rate shall apply up to the first annual renewal of the insurance policy, regardless of whether premium payments are annual/ half-yearly/ quarterly. Following the first annual renewal, the discount rate shall switch back to the discount rate applicable prior to the present promotional action, i.e. 10%.
The information contained herein may not be fully up-to-date and accordingly you should consult the relevant information leaflet (under L. 4364/2016), which is available at all NBG branches. The insurance cover is provided with the mediation of National Bank of Greece SA, Eolou 86, 10232, Company Reg. No.: 311481, Athens and "NBG Bancassurance" Insurance Broker SA, member of the NBG Group, Company Reg. No.: 288616, 24 Stadiou Str, 10564, Athens.