Monthly benefit in case of the unexpected

Bank of Valletta has launched the BoV Lifelink Payment Protection Insurance, a new product to complement the existing range of BoV Lifelink life assurance, saving and investment plans, to meet an even wider spectrum of customer needs.

Explaining the features of this new product, Robert Ducker, executive head responsible for bancassurance and pensions at Bank of Valletta, said that in the event of unexpected accident, illness or unemployment, the BoV Lifelink Payment Protection Insurance pays a monthly benefit for a pre-determined period. In contrast, the BoV Lifelink Payment Protection Insurance will pay the outstanding loan balance in the event of death; however this option applies only on BoV personal loans.

Premiums are paid monthly and are usually calculated as a percentage of the monthly loan repayment.

The new policy may be taken out by customers aged between 18 and 65. The product is being offered in conjunction with Middlesea Valletta Life and Middlesea Insurance.

For more information call any Bank of Valletta branch, visit www.bov.com or call the customer service centre on 2131 2020.