WARTA Your Health Plus

Transcription

1 WARTA Your Health Plus Individual Life Insurance Please read the following Product Sheet carefully. The Product Sheet contains the key information about the General Terms and Conditions of WARTA Your Health Plus Individual Life Insurance. The Product Sheet is not part of the insurance contract and does not constitute an agreement template or a marketing material. The Product Sheet was prepared by Towarzystwo Ubezpieczeń na Życie WARTA S.A. with its registered office in Warsaw ( Insurer ) for use by Bank Handlowy w Warszawie S.A. with its registered office in Warsaw ( Bank ) in sales processes under Recommendation U of June 24, 2014 on bancassurance and Guidelines for insurance undertakings on insurance distribution issued by the Polish Financial Supervision Authority, and its aim is to present key product information and help the Client in understanding the product characteristics. A decision of concluding the insurance contract should be taken after one becomes familiar with the insurance documentation, in particular the General Terms and Conditions of Your Health Plus Individual Life Insurance (GTC), which contain detailed information on the insurance. If the product characteristics contained herein are unclear or the Client has concerns regarding choice of a product suitable for his/her needs, the Client should seek advice from the Insurer or the Bank before concluding the insurance contract. BASIC INSURANCE INFORMATION Product Sheet 1. Policyholder A natural person concluding the insurance contract for WARTA Your Health Plus Life Insurance. 2. Insured A natural person indicated in the insurance contract whose life and health are covered by insurance. Only a natural person who is at least 18 years of age and less than 55 years of age on the day of the insurance contract qualifies as an Insured. The Insured and the Policyholder may be one person. 3. Beneficiary In the event of the Insured s death, a natural person, a legal person or an organizational unit without legal personality indicated by the Insured in the insurance contract to whom the Insurer pays the benefit in case of the Insured s death. During the term of the insurance contract, the Insured may change the Beneficiary at any time by submitting an appropriate written instruction at the Bank or directly to the Insurer. If no Beneficiary is indicated, the Insurer will pay the benefit to family members, i.e. first to the spouse. If there is no spouse, to the children, in equal parts. If there are no spouse or children, to the parents, in equal parts. If the benefit cannot be paid to the above persons, it will be paid to other entitled heirs of the Insured, in equal parts. In the event of critical illness, the Insured is the Beneficiary. 4. Insurer Towarzystwo Ubezpieczeń na Życie WARTA Spółka Akcyjna (TUnŻ WARTA S.A.) 5. Role of the Insurer The scope of the Insurer s liability covers, inter alia, the preparation of documentation related to the insurance contract (e.g. a policy application document), accepting and settling premiums, administration and payment of insurance claims. 6. Role of the Bank The Bank acts as an insurance agent performing agency activities for the Insurer and is entered in the register of insurance agents maintained by the Polish Financial Supervision Authority (KNF) under number /A. The Client can verify the Bank s entry in the register by submitting an appropriate application to KNF, in particular in writing or by telephone. The Bank acts for and on behalf of many Insurers detailed information is available at the Bank at the Client s request. The scope of the Bank s responsibility includes, in particular, preparatory activities aimed at concluding insurance contracts, concluding insurance contracts on behalf the Insurer, notifying Policyholders of insurance conditions and conditions of contract conclusion, debiting the first insurance premium from the Policyholder s bank account or credit card, providing WARTA with documents necessary for insurance contract administration and updating personal data. 7. Type and object of the insurance contract An individual insurance contract (Contract) is concluded between the Policyholder and the Insurer. Page 1 of 5

2 The object of the insurance is the life and health of the Insured. The insurance contract is a protection product. 8. Insurance contract validity An insurance contract is concluded for a five-year period of cover and may be renewed for any number of five-year periods, as long as the Insured is less than 55 years old on the day of such insurance contract renewal. In the case of insurance contract renewal, the Insurer may propose new conditions of insurance. If the premium and the sums assured are to change in the event of renewal of the insurance contract, the Insurer shall, 30 days prior to the policy anniversary, send the Policyholder a proposal of the insurance contract renewal, indicating the new amount of the premium and the sums assured applicable to the next five-year period of cover. Either the Insurer or the Policyholder may submit a declaration of non-renewal of the contract. The Insurer must submit such declaration to the Policyholder no later than 30 days before the policy anniversary on which the insurance contract is to be renewed. The Policyholder must submit such declaration to the Insurer no later than 14 days before the policy anniversary after which the insurance contract is to be renewed. Please remember that if neither party submits a declaration of non-renewal of the insurance contract, the insurance contract shall be renewed for a subsequent five-year period. Before renewing the contract, the Insurer may request the necessary documents concerning the Insured s health status. The Insurer uses these documents to perform insurance risk assessment and may refer the Insured for medical examination or diagnostic tests. The cost of such examination or tests shall be covered by the Insurer. 9. Scope of cover Under the insurance contract, the Insurer provides cover with regard to the following events: a. Insured s death; b. a critical illness specified in the critical illness catalog. The critical illness catalog includes the following critical illnesses: malignant tumor (cancer); myocardial infarction; stroke; surgical treatment of coronary artery disease (by-pass); renal failure; organ transplant; loss of speech; loss of sight; loss of hearing. NOTE: The scope of insurance cover is limited in the period of 90 days from the beginning of the Insurer s liability. In this period, the Insurer provides cover only against the following critical illnesses: loss of speech, loss of sight, loss of hearing as described below, suffered as a result of an accident. LOSS OF SPEECH Loss of speech means total and irreversible loss of the ability to speak that persists continuously for at least 12 months. The diagnosis must be confirmed by an ENT specialist based on a diagnosed vocal fold disease or injury. The insurance does not cover any cases of loss of speech caused by mental disorders. The insurance does not cover cases of loss of speech that can be corrected with medical treatment. LOSS OF SIGHT Loss of sight means total and irreversible loss of sight in both eyes caused by sudden illness or injury. The diagnosis must be confirmed by an ophthalmologist. The insurance does not cover cases of loss of sight that can be corrected with medical treatment. LOSS OF HEARING Loss of hearing means total and irreversible loss of hearing in both ears caused by sudden illness or injury. The diagnosis must be based on an audiometric test and confirmed by an ENT doctor. The insurance does not cover cases of loss of hearing that can be corrected with medical treatment. 10. Sum assured, benefits The sum assured is the amount used to determine the benefit and it is fixed for the duration of the given period of cover. The benefit is an amount to be paid by the Insurer to the Beneficiary in case of occurrence of the event provided for in the insurance contract, i.e. the Insured s death or critical illness. NOTE: during the term of the contract, only 1 benefit may be paid out due to occurrence of the same type of illness or different types of illness that are causally related. Benefits due for the Insured s death or critical illness are paid in the amount of the sum assured fixed for each particular event as a specific amount, depending on the insurance variant, in accordance with the following table. The death benefit is paid in the amount of the sum assured applicable as on the day of the death. The critical illness benefit is paid in the amount of the sum assured for critical illness applicable as on the day of the occurrence of the illness. Variant Variant I Variant II Variant III Sum assured Age Death Critical illness Death Critical illness Death Critical illness Page 2 of 5

3 18 35 PLN 1,000 PLN 100,000 PLN 1,000 PLN 150,000 PLN 1,000 PLN 200,000 Insured s age PLN 1,000 PLN 50,000 PLN 1,000 PLN 75,000 PLN 1,000 PLN 100, PLN 1,000 PLN 20,000 PLN 1,000 PLN 30,000 PLN 1,000 PLN 40,000 Monthly premium PLN 39 PLN 59 PLN Commencement of cover The liability of the Insurer commences on the date indicated in the policy application document as the beginning of cover, provided that the premium is paid on the day of signing the policy application document, in such amount as stipulated in the policy application document. If the premium is not paid in the above time limit, but is credited to the Insurer s account 30 days of concluding the insurance contract, the Insurer s liability commences on the day following the payment of the first premium in such amount as stipulated in the policy application document. 12. Withdrawal from and termination of an insurance contract The Policyholder may withdraw from the insurance contract within 30 days of its conclusion. In such cases, the premium is fully paid back to the Policyholder. No other costs are charged to the Policyholder for such withdrawal from the contract. The Policyholder may terminate the insurance contract at any time, with the termination being effective at the end of the policy month in which the Insurer receives the termination notice or on the last calendar day of the month if there is no such date in this particular month. Each subsequent policy month starts on the day corresponding to the starting date of the period of cover occurring in each subsequent calendar month. If there is no such day of the month corresponding to the starting date of the period of cover in a given calendar month, then the policy month starts on the last day of such calendar month. For instance, if October 31 is the starting date of the period of cover in the policy application document, a new policy month will start on the 31 st day of each subsequent month, except for months that have fewer than 31 days, such as November, in which case the new policy month will start on the last day of the month, e.g. November 30. Insurance cover is provided throughout the notice period, so the Policyholder is required to pay the premium for that period. No other costs are charged to the Policyholder for such termination of the contract. 13. Termination of cover PLEASE NOTE The liability of the Insurer ends on the date of termination of the insurance contract. The insurance contract is terminated due to: a) withdrawal from the insurance contract by the Policyholder as of the date of submitting the relevant withdrawal notice to the Insurer or Agent; b) termination of the insurance contract by the Policyholder; c) the Policyholder s failure to pay the premium as of the end of the last day of the additional term; d) the Policyholder s death on the day of the Policyholder s death; e) expiry of the contract term if one of the parties submits a notice regarding lack of consent to renew the contract (see item 8 Insurance contract validity); f) the Insured s turning 60 years of age on the first policy anniversary after the day of the Insured s 60 th birthday. 14. Insurance premium In connection with the conclusion of the insurance contract the Policyholder must pay a premium in such amount as stipulated in the policy application document, with the premium amount dependent on the selected insurance variant. The premium is payable in advance, on a monthly basis, for each policy month. The first policy month means the month starting on the first day of the period of cover indicated in the policy application document. Each subsequent policy month starts on the day corresponding to the starting date of the period of cover occurring in each subsequent calendar month. If there is no such day of the month corresponding to the starting date of the period of cover in a given calendar month, then the policy month starts on the last day of such calendar month. The Policyholder is obliged to pay the first premium within one day of signing the policy application document. All further premiums must be paid by the Policyholder by the first day of the period for which the premium is due. The date of premium payment shall be the day on which the premium is credited to the bank account indicated to the Policyholder by the Insurer. The premium will not change during any five-year period of the contract. The premium amount may change only if the insurance contract is renewed and the Insurer proposes, 30 days before the policy anniversary after which the insurance contract is to be renewed, new terms of insurance which provide for an adjusted premium and sum assured. Please remember that in such a case if you do not deliver a written declaration of non-renewal of the insurance contract 14 days before the policy anniversary after which the insurance contract is to be renewed, the contract will be renewed for a subsequent five-year period of cover on the terms proposed by the Insurer. 15. Exclusions from the scope of Insurer s liability PLEASE NOTE Page 3 of 5

4 The liability of the Insurer on account of the Insured s death does not cover events arising from: a. self-mutilation or mutilation of the Insured at own demand, suicide or attempted suicide by the Insured within 2 years of insurance contract conclusion; b. acts of war, martial law and active engagement of the Insured in riots, social unrest or acts of terror; c. the Insured s participation in medical treatment, therapy or procedures performed without supervision of physicians or other authorized persons; d. nuclear, chemical, biological contamination regardless of the cause or radiation. The liability of the Insurer on account of critical illness does not cover the events listed above and events arising from: a. self-mutilation or mutilation at own demand or attempted suicide by the Insured; b. HIV infection; c. poisoning or taking actions by the Insured under the influence of alcohol, drugs or toxic substances and as result of illnesses caused by alcohol, drugs or toxic substances, except where these substances are taken in accordance with the doctor s order; d. pursuit of high-risk sports by the Insured, i.e.: scuba diving, alpine climbing, rock climbing, mountaineering, potholing, ballooning, hang gliding, gliding, aviation (sports, military, professional or amateur aircraft or helicopter piloting), paragliding, kite buggying, parachuting, car or motorcycle rallying, go karting, quad biking, powerboating, martial arts or bungee jumping; e. driving of a road vehicle, marine vessel or aircraft by the Insured: 1. without the license to operate the given vehicle as required by law, or 2. without the technical inspection certificate for the given vehicle as required by law which confirm their roadworthiness, unless the above circumstances did not contribute to the occurrence of the insured event; f. commission or attempted commission of a willful crime by the Insured, Beneficiary or another person aided and abetted or incited by the Insured or Beneficiary; g. the Insured s being diagnosed with mental illness or mental disturbances, nervous breakdowns or addictions as defined in the International Statistical Classification of Diseases and Related Health Problems ICD-10 (F00-F99). 16. Insured event reporting procedure, calculation and payment of indemnity If an insured event occurs, the Beneficiary submits an application for benefit payment directly to the Insurer. To this end, the Beneficiary can fill in the form provided by a consultant at the Bank or by the Insurer or downloaded from The Beneficiary must attach documents indicated by the Insurer as required to determine the legitimacy and amount of the benefit to the application. In the case of a critical illness, the benefit payment application should be submitted together with a written consent for TUnŻ WARTA S.A. to address inquiries and requests to entities providing medical services regarding the health condition of the Insured and access to medical records relating to the Insured s treatment, and to provide information gathered and processed by the National Health Fund, for the purposes of, and to the extent necessary in performing the insurance contract (including determining the cause of the insured event, eligibility for benefits and the amounts of such benefits); 17. Complaint procedure Complaints, including appeals and grievances, can be submitted by the Policyholder, the Insured or the Beneficiary under the insurance contract to TUnŻ WARTA S.A.: - in writing to the following address: skr. poczt. 1013, Warszawa 1; - in electronic form using the form available on - by telephone by dialing ; - at any office of TUnŻ WARTA S.A., in a written notice delivered in person or orally for the record; - at the Bank in: a) written form submitted personally at a Bank branch during the working hours of the branch or sent to the following address: Bank Handlowy w Warszawie, Departament Obsługi Reklamacji i Zapytań Klientów, ul. Goleszowska 6, Warszawa, b) oral form made by phone or personally for the record during the client s visit at a Bank branch, c) electronic form sent to the address of the Bank, via Citibank Online after logging in using the tab Contact the Bank and on the website using the complaint form. The Insurer examines the complaint, appeal or grievance within 30 days as of receipt and provides a response in writing by mail or at the request of the person submitting the complaint. In particularly complex cases the deadline for providing a response may be extended to 60 days, of which the person submitting the complaint, appeal or grievance is previously notified. An organizational unit designated by the Management Board of the Insurer shall be the competent body for examination of the complaint, appeal or grievance. If the complaint, appeal or grievance is rejected, a natural person may bring a case against the Insurer to court as stipulated in the GTC and, additionally, may apply for the assistance of the Financial Ombudsman. Detailed information on the procedure for submitting and examining complaints, appeals and grievances is available on In the case that the details of TUnŻ WARTA S.A. provided above change, the Insurer will notify the Policyholder and the Beneficiary of each such change in writing. Such change does not represent an amendment to the insurance contract. The institution authorized to handle alternative dispute resolution processes is: a. The Arbitration Court at the Polish Financial Supervision Authority ( b. the Financial Ombudsman ( 18. Taxation of benefits The taxation of benefits paid out by the Insurer is governed by the following laws: Page 4 of 5

5 a. Personal Income Tax Act (consolidated text, Journal of Laws Dz.U. 2016, Item 2032, as amended), b. Corporate Income Tax Act (consolidated text, Journal of Laws Dz.U. 2016, Item 1888, as amended). The benefits paid out by the Insurer are not subject to the Act on Inheritance and Donations (consolidated text, Journal of Laws Dz.U , as amended) in conjunction with Article 831 Paragraph 3 of the Civil Code Act (consolidated text, Journal of Laws Dz.U , as amended). 19. Additional information The insurance is voluntary and does not affect the availability of the bank products offered by the Bank nor the cost of such products. The Client may request additional information on the terms of the concluded insurance contract, including the value of benefits, from authorized representatives of the Bank or of the Insurer. A report on the solvency and financial condition of TUnŻ WARTA S.A. is published on Page 5 of 5