Increase in tax premium of P.T.D. cover of NN Hellenic Life Insurance Co. S.A. Group Policy OA81298
We would like to inform you that as of Tuesday June 7th, 2016, an automatic readjustment of premiums applies for the cover of Permanent Total Disability of NN Hellenic Life Insurance Co. S.A. Group Policy OA81298.
The increase in tax premium from 10% to 15% is applicable to all bank products related to Individual Loans and professional Farming Loans, which are insured by Group Policy OA81298 (Mortgage/Consumer/Investment Farming Loans), with the cover of Permanent Total Disability.
Readjustment comes as a result of the new Law in force, 4334/2015, titled as ‘Urgent regulations for the negotiation and agreement with the European Stability Mechanism (ESM)’ and is defined as follows:
- Property Insurance (also known as Fire Branch): no change, 20% tax premium applies.
- Life Insurance: no change, 4% tax premium applies.
(it is clarified that Life Insurance policies with a duration of more than 10 years are exempted from tax on premium)
- Other Covers: increase of tax premium from 10% to 15% applies.