Below you will find the basic conditions of insurance of credit installments. This information leaflet does not contain any detailed information about conditions of insurance and does not represent the insurance contract. Therefore, this leaflet does not imply any legal consequences between us.
Who is insurer?
JSC "TBC Insurance" (ID code 405042804).
Address: #24B Al. Kazbegi Avenue, Tbilisi; hot line/phone: (+995 32) 242 22 22
Type of insurance contract
This information leaflet contains brief information about the Contract, which you will sign for the purpose of credit installments insurance. When you purchase the insurance, you will be given a document certifying the validity of insurance – “Insurance Policy”. The Policy contains conditions of insurance. Together with Insurance Conditions it represents a unified insurance contract.
The detailed conditions of insurance listed in the Insurance Policy are available at web site www.tbcinsurance.ge.
When you purchase insurance, it means that you agree with the insurance conditions given on the website and listed in the Policy.
Who is insured?
Insured can be an individual, responsible for repaying credit.
What is covered:
According to the conditions of insurance of credit installments, TBC Insurance will undertake financial liability of the Insured in the following cases:
This condition covers the cases when your employment contract terminates because of one of the following reasons: at the initiative of the employer (redundancy, inadequacy of qualification/professional skills of the employee for his/her work position/assigned tasks); enforced court decision excluding performance of the work by the employee; death of the employer (individual); insolvency of the employer (legal entity); staff reorganization within the employing legal entity (canceling of certain positions, redundancy); other circumstances justifying termination of the employment contract.
In which countries is the insurance valid?
You will be insured on the territory of Georgia (except for the occupied territories).
About your financial participation:
Your financial participation in insurance is the payment of insurance premium. You will agree the schedule of payment with the Insurer and this schedule will be then indicated in your Policy.
TBC Insurance will reimburse the loss within 6 months the latest. Monthly limit of reimbursement shall be preliminarily agreed with the Insurer.
Reimbursement can be issued upon expiry of 3 (three) months after signing of the Policy and within 1 (one) month after the insured event, which means that the Insurer will pay credit installments to the bank within 4 months after signing of the Policყ.
How is insurance policy activated?
Insurance Policy is activated at 24:00 of the first day of insurance period. The Policy will be activated on condition that the first or single installment of insurance premium is fully paid.
What to do in case of insured event:
In case of forced unemployment, please contact TBC Insurance within 48 hours following the insured event.
In case of death or disability, TBC Insurance must be notified within 15 calendar days.
TBC Insurance can be contacted through the hot line: 242 22 22.
What is not covered?
The loss shall not be reimbursed, if the single or first installment of the insurance premium is not fully paid. Apart of that, the loss shall not be reimbursed:
In case of death or disability, if this was caused by:
In case of forced unemployment, if:
How soon will the loss be reimbursed?
TBC Insurance issues compensation for credit installments within 1 month after the submission of all the documents, on condition that the above 4 months waiting period is expired. Documents must be submitted to TBC Insurance for each further compensation.
In which cases may the insurance be terminated?
The insurance may be cancelled at any time at the Insurer’s or your request. The insurance will be terminated if the party requesting termination sends a written notification to the other party. The notification must be sent within the period specified in the insurance conditions: 5 days prior to termination if the insurance is terminated at the initiative of the Insured, and 14 days prior to termination if the insurance is terminated at the initiative of the Insurer.
You can request the refund for the premium already paid, in accordance with the terms described in insurance conditions.
The insurance will be terminated if you fail to pay insurance premium within 30 calendar days from the due date of payment indicated in the Policy.
Protection of consumers’ rights:
If you have any concerns regarding the insurance conditions or quality of service, you can at any time call us through the hot line: 242 22 22.
The department of Quality Control will study your notification within 10 (ten) working days.
Please take into consideration that for the purpose of protection of consumers rights and improvement of service quality, all incoming calls to the hot line shall be recorded.
Your personal data will be processed for the purposes specified in the insurance conditions.
Information about our supervising body:
LEPL Insurance State Supervision Service of Georgia
Address: #34 Abuladze street, Tbilisi city
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