Did you know that there is a life insurance that allows you to receive back the amount of premiums you paid?
What is Return of Premium Insurance?
Return of Premium Insurance, provided by Allianz Hayat ve Emeklilik A.Ş.(1), is a type of life insurance that can secure you and your family. This insurance allows you to receive back the premiums you paid if there is no loss of life at the end of the term. You can secure your loved ones and invest in your future with the premiums you pay during the insurance period. You can plan your insurance benefit yourself according to the payment options and take a secure step towards the future.
Why Should I Get Return of Premium Insurance?
- You can secure your family in case of loss of life.
- You can receive back the premiums you paid if there is no loss of life at the end of the insurance period.
- You can deduct the premiums you paid from your tax base and gain a tax advantage. You can pay your premiums in dollars(2) on a monthly, quarterly, semi-annual, or annual basis.
Return of Premium Insurance Benefits(3)
Death Benefit: In the event of a loss of life during the insurance period, the determined benefit amount is paid to the beneficiary(ies).
Premium Refund Benefit: If there is no loss of life at the end of the insurance period and all premiums have been paid, the paid premiums are refunded.
Tax Advantage
If you are employed; 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 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 12 years and a maximum of 20 years.
Who Can Be Covered by Insurance?
Anyone between the ages of 18 and 63 who declares themselves healthy can have this insurance, provided they do not exceed 75 years of age at the end of the insurance period.
Payment Options
You can easily pay your premiums in US dollars(2) monthly, quarterly, semi-annually, or annually 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)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 mentioned is shared for illustrative purposes only and does not constitute a commitment.