Redemption of Insurance Policy

  • 14 April

If you wish to redeem your contract earlier than the agreed time, then you should consider that: A period of time, usually 2 years, is determined in the contract where your money cannot be returned. That happens because the companies cover their operating costs and the salaries for insurance mediators. The company must refund your money within 30 days from the submitted application for...

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VAT refund refusal

  • 14 April

The insurance company is obliged to pay your medical treatment costs including VAT. If they refuse to do so, you should claim the refund. It appears to be that some insurance companies refuse to pay both the medical treatment costs and the respective VAT. Specifically, they appeal to the conditions of the insurance contract under which taxes, fees, stamp duties and other related costs, which...

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Insurance premium increase

  • 14 April

In the event of disease or accident, you should notify your insurance company within 8 days unless otherwise provided by the contract. If you miss the deadline, you are still entitled to claim compensation and the payment from the insurance company should be made without any delay. Any compensation coverage exceptions should be referred clearly and explicitly at the front page of your insurance...

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Insurance Policy compensation

  • 14 April

In the event of disease or accident, you should notify your insurance company within 8 days unless otherwise provided by the contract. If you miss the deadline, you are still entitled to claim compensation and the payment from the insurance company should be made without any delay. Any compensation coverage exceptions should be referred clearly and explicitly at the front page of your insurance...

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Insurance company bankruptcy

  • 14 April

In case the insurance company you are registered with goes bankrupt, you should contact the insurance liquidator and demand compensation of your insurance policy. The compensation will be covered by the Life Insurance Guarantee Fund.  

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Health Insurance Policy instructions

  • 14 April

If you want to apply for health insurance policy, the process goes as follows: You apply for an insurance policy to your insurer The insurance company reviews your application and approves your insurance policy The insurance policy is handed to you by the insurance consultant and then the insurance coverage starts Insurance application In the insurance application you must fill in...

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Group Life Insurance

  • 14 April

Group insurance is addressed to groups of people with common property (such as employees/ partners within a company). Also, very common are plans for group insurance for borrowers in order to repay a loan in case of Total and Permanent Disability. The group should meet the following conditions: The group should have been formed before applying for insurance It should be composed of at...

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Cancellation of Health Insurance

  • 14 April

Your health insurance contract is terminated by: Contract validity period expired Termination of contract of one of the Contracting Parties If it is agreed to tacitly renew the contract after its expiration date, then this renewal can apply for maximum 1 year. The law proposes termination of an insurance contract when: The insurer realizes that important information regarding...

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