Which hazards are covered by life insurance?
Most life insurance policies cover the event of death or reaching the end (maturity) of the term of insurance. Depending on the type of insurance, they may also cover serious illness, disability, etc. The rationale behind an insurance policy is generally to provide financial security for the event of an unexpected accident. None of the aforementioned events can be foreseen with any degree of security. If they are covered by insurance, we call them insured events. Apart from serving as financial security in the event of accidents or misfortune, life insurance can also act as a certain form of capital appreciation. Such products are classified as capital life insurance.
Who will receive life insurance money if the insured person dies?
In the event of death of the insured person, Generali Slovensko will pay out the indemnity to beneficiaries. The advantage of insurance lies in the fact that the beneficiary who is to receive indemnity in the event of death of the insured person can be specified ahead, directly in the insurance contract. If at the time of death of he insured person no beneficiary is specified or no specified beneficiary is eligible to receive indemnity, the right to receive indemnity is passed on to persons defined by § 817 section 2 and 3 of the Civil Code (husband, wife, children, parents).
In case of capital life insurance policies, the insured person is paid out the agreed on amount of coverage on reaching the policy maturity, plus their share of the profit.
What happens if a client purchases a life insurance policy, then loses their job and is thus unable to pay premiums?
Generali Slovensko provides cost-saving life variable insurance policies to cover this very hazard. In case of the Dynamik variable capital life insurance, the insured person can opt to stop premium payments in case of unfavourable financial situation, then start paying later, or, if necessary, decrease or increase premium and/or the amount of coverage. What this means in practice is that if, for instance, the insured person loses their job or go on maternal leave, they simply suspend their premium payments and start paying again once they return to work. Despite being a relatively new offering in the market, this policy became the Czech Republic's favourite product of the year.
Generali Slovensko also offers variable insurance policy for investment insurance. It is of course possible even in case of other life insurance policies that are not as variable as the aforementioned products to find ways to respond to a changed financial situation of the insured person so that they suspend premium payments but do not lose coverage.
Is it possible to purchase insurance of antiquities in my home from Generali Slovensko?
Generali Slovensko provides coverage of antiquities as part of the regular household insurance, included in the "Household equipment insurance" product. The Standard policy covers individual antiquities by up to 10 % of the total amount of coverage and at the same time the insurer covers all antiquities combined to the limit of 15% of the total amount of coverage (which can range from SKK 200,000 to 800,000).
The Special policy covers individual antiquities by up to SKK 20,000, with the possibility to agree on an increased limit for all antiquities combined with the limit of 30% of the total amount of coverage which can range from SKK 500,000 to SKK 3 million.
Does the client have to file motor-hull insurance claims by phone or in writing, or do they have to report in person?
In case of motor-hull insurance claims, clients of Generali Slovensko can file claims in person, in writing or by phone at the Contact Centre at 0850 111 117 (calls from Slovakia), 02/58 276 666 (calls from abroad) .
What steps should a client take in case their insured flat is burgled?
In the event of every suspected crime, clients are bound to call the police immediately, then, in accordance with the insurance terms, by any means notify the insurer of the event. Clients of Generali Slovensko can file claims by phone, fax, in person or in writing, according to their preference.
What should a client base the total amount of coverage on, for their house/flat/household equipment insurance?
For detached house/flat insurance:
The point of the detached house/flat insurance is to secure a large enough financial capital to obtain a new detached house/flat of the same kind, quality, size and age in the given location, should the insured detached house/flat be destroyed in an insured event. Should the detached house/flat be damaged in such insured event, the insurer will pay out a sum corresponding to reasonable costs for repair.
In Generali Slovensko, policy holders determine the amount of coverage themselves, according to what they believe should be the insured value of the object at the time of insurance. The insured value of insured buildings is the so-called new value, that is, the sum usually needed to build a new building of the same kind, size, quality and age in the given location, including the costs of project documentation.
For household equipment insurance:
In Generali Slovensko, the amount of coverage is determined by policy holders themselves, according to what they believe is the sum that would suffice to acquire new household equipment in the event of its complete destruction. For this insurance policy, our insurance company does not object against underinsurance.
How do you handle windscreens cracked/chipped by stray stones from oncoming cars?
If you possess our motor-hull insurance policy, Generali Slovensko will cover the costs of windscreen replacement, minus the agreed on excess.
Should the insured person claim compensation for damaged windscreen as covered by the MTPL (motor third party liability)policy purchased from our insurance company, and can prove the claim is justified, Generali Slovensko will pay out indemnity for the damage.
Do you provide a solution that prevents windscreen damage for affecting my bonus?
Clients of Generali Slovensko can opt to include special windscreen coverage in their motor-hull insurance policy. In that case, they don't lose their bonus, don't have to pay excess and don't have to care at all about who damaged their windscreen in the first place.
