NBG Pension

Ethniki Insurance -- responding continuously to the needs of its customers-- has launched NBG Pension, a new bancassurance plan, available through NBG's Branch Network.

“NBG Pension” is a Pension and Insurance plan enabling you through monthly instalments to gradually generate a capital which you can use to enhance the pension you are entitled to from your social insurance institution, or simply to make your plans come true.

For further information see Details.

Duration

You can choose the duration of the plan, with a minimum of 15 years, provided that at the commencement date the sum of the Life-Insured’s age and the insurance term is less than 75 years.

Participation in the plan

Participation is subject to a minimum monthly premium* of €60 and a maximum of €500. The plan provides two premium options, fixed or increased by 3% per year.

 (*) The premium is subject to charges in favour of the Private Life Insurance Guarantee Fund along with the amount of €10.00 (only at the commencement date) for record keeping fees (“policy fees”).

 
Benefits

• Formation of guaranteed capital upon maturity.
                                                      or
• Monthly pension guaranteed for 10, 15, 20, 25 years.
Alternatively, there is the option of payment of the capital at maturity, in the form of:
• Monthly pension for life
• Monthly pension of a fixed amount until exhaustion of the capital
• Monthly pension for life with a guaranteed payment period of 5 or 10 years
• Monthly pension for life without any guaranteed payment period etc.

• Insurance coverage of the Life-Insured, in the event of death prior to the plan’s maturity with refund of the premiums paid. 

• Waver of Premium (WoP) in the event of death or total permanent disability due to accident with a lump-sum payment of the remaining premiums until the monthly instalments maturity.

Early withdrawal and redemption option

You are offered a total surrender option after the lapse of two (2) years as of the commencement date and provided that the respective monthly premiums (24 instalments) have been paid. The insurance surrender value is guaranteed by Ethniki Insurance and known in advance as set out, per insurance year, in the Surrender Chart which you will receive along with the Insurance Application - Insurance Policy.

Option to participate in other Bancassurance Products at favorable prices:

• Hospital Care (Health Insurance Plan) – for adults and minors with favourable pricing:
           -  Children's scheme: €141 per year
           -  Adult scheme: €157 per year
  
  Eligibility for discounts is provided either to the Life-Insured (one participation) or the Policy Holder (multiple participations)
  
• Vehicle Insurance: Private Car - motorbike and Private-use farm truck insurance plans are available with a 10% discount on gross insurance premiums, for specific types of insurance cover.
  
  The discount is provided only for the persons Insured and once per insurance policy.

Offering the plan to a family member​

You can offer the plan to a family member (such as spouse) aiming to ensure, according to their needs, a supplementary income upon retirement and/or enhancing the amount of pension they are entitled to from their social insurance institution.

The information contained herein may not be fully up-to-date and accordingly you should consult the relevant information leaflet (under Law 4364/2016), which is available at all NBG branches. The insurance coverage is provided with the mediation of National Bank of Greece SA, 86 Eolou, 102 32 Athens, Company Reg. No.: 311481, Athens For more information click here.

​To find out more about the plan, simply visit any of our NBG Branches to consult our certified officers.

Basic documentation required:

• Valid Identity Card or Passport

Find out about the ID verification documents required under the current regulatory framework at Have you introduced yourself? If not ...do it now.​

The product is available pursuant to the capital controls currently in force.

​​Special features of the plan you’ve selected

• Capital guaranteed by Ethniki Insurance at maturity, but also before maturity in line with the Chart of Guaranteed Surrender Values.
• Alternative ways of receiving the benefits upon maturity, depending on your needs at the time.
• Offer the plan to a family member (such as spouse etc.) so that through monthly savings they can create a capital, enhancing their pension according to their needs.
• Flexibility and adaptability according to your needs and requirements, with the option to choose how much money you want to save.
• Participation in other bancassurance plans with favourable pricing.
• Participation in the go4more loyalty program by collecting points when purchasing the Insurance plan, as well as from any payment of the monthly premium.

FAQs​

• What is the duration of the plan?
  You can choose the duration of the plan, with a minimum of 15 years, provided that at the commencement date the sum of the Life-Insured’s age and the insurance term is less than 75 years.
  

   

• Where can I find information on the guaranteed value of this plan throughout its duration and to maturity?  
  The guaranteed value of the plan each year is set out in the Redemption Table which you receive together with the Insurance Application - Insurance Policy.

• Can the Policy Holder be a legal entity? 
  Yes, the Policy Holder can be a legal entity, provided that it is registered in Greece.

• Can I reinstate my policy if it has been cancelled? 
  Within a period of up to two (2) years from the moment that the first unpaid instalment became payable and upon the customer’s request, the plan may come into effect again provided that the unpaid premiums of the basic life insurance plus 3% and the premiums of the additional covers are paid prior to the agreed reinstatement date.

• What is provided as insurance cover for the Basic Insurance plan, and what is provided as insurance cover for the Additional Cover of Waver of Premium with respect to the NBG Pension plan?
  In the event of death of the Life-Insured prior to the plan’s maturity, the total of the paid-up net premiums under the basic insurance plan (net of any taxes and charges) up to the date of death is paid to the Beneficiaries, and the plan is terminated.
  In the event of death of the Life-Insured due to accident, the aggregate amount of the outstanding premiums through to the scheduled completion of the monthly instalments (in line with any contractually agreed adjustments) is also paid to the Beneficiaries.