Payment Protection Insurance on Corporate Loans

Use our risk charting form to assess the risks associated with your company's loan management capabilities. You can then prepare for unexpected future events with the appropriate voluntary additional coverage.

Our voluntary additional cover products include:

• Repayment Security Insurance on Corporate Loans
• Kultaturva in case of serious illness
• Interest rate hedge for your company credit.

Any compensation paid from the policy are paid to the insured persons themselves with the exception of death benefit, which goes to the beneficiaries specified by the policyholder.

A beneficiary clause is a specific clause that supersedes last wills and testaments and pre-nuptial agreements, for example. This means that any compensation is paid according to the beneficiary clause regardless of the policyholder's or insured person's existing or subsequent last will and testament or pre-nuptial agreement.

Declaration of beneficiaries

The beneficiaries are specified in the insurance application. There may be one of them or more.

For Repayment Security Insurance on Corporate Loans, the beneficiary can be your company, the close relatives of the insured person, or another designated beneficiary. When specifying beneficiaries, you should take account of the taxation effects this will have with regard to the insurance premiums and indemnities.

Unless otherwise declared in the insurance application or in a later written notification to AXA, the insurance policy's beneficiary will be the insured company.

Beneficiary clause format

Beneficiary clauses and any cancellation or amendment of them must always be submitted in writing to AXA. Cancellations and amendments can be made using the attached form.

Write the new beneficiary clause on the form in full. This beneficiary clause will supersede any previous ones. Post or fax the amended beneficiary clause to AXA. The contact details are at the bottom of the form.

A couple with a gardening company took out a loan of EUR 105,408 for running their company. This was later supplemented with another loan of EUR 100,000. The couple insured both loans with Repayment Security Insurance on Corporate Loans, with the 39-year-old woman and her husband both insured as key personnel.

The woman suffered a cerebral haemorrhage at the age of 44 and was sped to hospital. Her treatment and rehabilitation took time, but she was slowly rehabilitated back to working fitness.

Tax-free lump-sum compensations for serious illness to the remaining insured sum, which was equivalent to the entire remaining loan capital, were paid to the insured person under the Repayment Security Insurance on Corporate Loans. In this way, the Repayment Security Insurance on Corporate Loans saved this entrepreneurial family from financial distress.

Submit your claim using the enclosed claims forms.

• Following the instructions carefully will expedite the processing of your claim. Also remember to enclose all requested documents with your claim.
• Remember to sign the form and post it to AXA to the address shown at the bottom of the form.

For more information, contact AXA's telephone service on:
+358 10 802 842, Mon–Wed from 9.00 a.m. to 5.00 p.m., Thu–Fri from 10.00 a.m. to 5.00 p.m.