Did you know that there is a life insurance policy that allows you to receive back the investment income earned from the accumulation of the premiums, in addition to the premium amount you paid, as a bonus under certain rules?
What is New Generation Return of Premium Insurance?
New Generation Return of Premium Insurance, provided by Allianz Hayat ve Emeklilik A.Ş.(1), is a type of insurance that can help protecting you and your family. This insurance allows you to receive back your life benefit and the return on investment of your premiums as a bonus under certain conditions, in the event of no loss of life at the end of the term. You can protect your loved ones with the premiums you pay during the insurance period and secure your future with the bonus you can receive at the end of the insurance period. Furthermore, you can customize your insurance benefit by adjusting the payment options to suit you and move towards the future with more confidence.
Why Should I Get New Generation Return of Premium Insurance?
- You can secure your loved ones with the premiums you have accumulated in case of loss of life.
- In the event of no loss of life at the end of the insurance period, you can receive back your premiums with life benefit; and the return on investment of your premiums as a bonus under the specified conditions.
- You can benefit from tax advantages by deducting the premiums you pay from your tax base.
- You can pay your premiums monthly in dollars.(2)
New Generation Return of Premium Insurance Benefits(3)
Death Benefit (Main Benefit): In case of death during the insurance period, total premiums paid by the insured are paid to the beneficiary(s).
Life Benefit (Additional Benefit): If there is no death at the end of the insurance period and all premiums have been paid by the insured, the life benefit is paid to the insured.
Bonus Advantage
Allianz may voluntarily share a portion of its investment income with the policyholder or their heirs as a bonus at the end of the policy period or in case of death, within certain rules.
Tax Advantage
If you are employed; you can benefit from tax advantages by deducting the premiums you pay in your own name or in the name of your spouse and children under 18 from your income tax base, provided that it does not exceed 15% of your monthly gross income and the annual amount of the gross minimum wage.
If you are a taxpayer subject to annual declaration, you can benefit from a tax advantage by deducting the premiums you pay in your own name or in the name of your spouse and children under 18 from your income tax base, provided that it does not exceed 15% of your declared annual income and the annual amount of the gross minimum wage.
For example, if you are in the 27% tax bracket in the month you pay the premium, the actual cost of a 100 USD premium payment will be 73 USD after the tax deduction.
During this time, your benefit will continue to be determined based on 100 USD.(4)
To benefit from the tax advantage, simply provide a copy of your premium collection receipt or payment document to the accounting or human resources department of your workplace in the relevant month.
Insurance Period
The insurance period can be a minimum of 10 years and a maximum of 12 years.
Who Can Be Covered by Insurance?
Anyone between the ages of 18 and 70 can have this insurance, provided they do not exceed 80 years of age at the end of the insurance period. You can quickly obtain this insurance with your health declaration without needing a health assessment when your policy is issued.
Payment Options
You can easily pay your premiums monthly in US dollars(2) with your credit card or TL current account. The premium refund you will receive at the end of the period will also be calculated and paid to you based on the US dollar exchange rate(3).
For detailed information, you can visit the nearest HSBC Bank branch.
(1)New Generation Return of Premium Insurance is offered by Allianz Hayat ve Emeklilik A.Ş. HSBC Bank A.Ş. is an agent of Allianz Hayat ve Emeklilik A.Ş.
(2)The minimum premium amount is 50 US dollars, the effective selling rate of the Central Bank of the Republic of Türkiye announced the previous day at 3:30 PM for US dollars will be used during collections and premiums will be collected in Turkish Lira.
(3)The insurance benefit is indexed to US dollars, and the effective selling rate of the Central Bank of the Republic of Türkiye for US dollars will be used during payments.
(4)The calculation is shared for illustrative purposes only and does not constitute a commitment.