GENERAL INFORMATIONS

RENTA MASTER is a financial support for the children, with an annuity for studies that they will receive after a fixed term set in the insurance contract and that will help them continue their studies, offering also protection for the insured, through seven additional insurance types that you can choose from, as an insurance package.

RENTA MASTER is a life insurance product which provides to the parents the opportunity to implement a financial plan for their children, to help them make their way in life. With the money they will receive after the fixed term set in the insurance contract, as an annuity for education, the child will be able to opt for a better university and could follow his dream, whatever it may be.

Period of insurance is at choice: between 5 and 20 years.

Currency of contract: LEI

Limits the amount of insurance: minimum 4,000 lei

Insurance premiums can be paid annually, in advance, or can be paid in installments, upon request, in semi-annual, quarterly or monthly installments.

Possibilities of payment of the sum insured: annuity for studies for a limited period (between 4 and 15 years) starting from the date fixed in the contract, whether if the insured is alive or not at that time.

Method of payment for rent: annual or monthly Before starting to pay the rent, the beneficiary has the right to delay the payment for a period of 1 to 5 years

Validity of insurance:

• 24 hours of 24 hours;
• For risk produced anywhere in the world, but the sums insured are paid only in Romania;

Validity of insurance in case of death of the insured:

• in case of death of the insured from other reasons than accident or due an acute infectious disease in first 12 months from the beginning of the insurance ASIROM will return the premium collected, except the expenses;
• in other cases, the contract will be exempted from payment of insurance premium. The insurance contract will be valid and exempted from payment of insurance premium for insured sum specified in the contract, which will be paid as annuity for studies for a limited period at the date mentioned in contract.

Insurance does not conclude in following situations:

• people with disability greater than 50%;
• people not in accordance with ASIROMs’ medical standards.

WHOM IT IS ADDRESSED TO

THE CONTRACTOR of the insurance can be any Romanian citizen or other nationality, with home or residence in Romania, who buys the insurance and pays the premiums and which take into consideration a financial plan for the education of his children. The contractor can be insured himself.

THE INSURED PERSON can be any Romanian citizen or other nationality, with home or residence in Romania, aged 16 to 60 years, but not more than 65 years when the contract expires.

THE BENEFICIARY OF THE ANNUITY is the son or daughter of the contractor, that is named in the contract to receive the sum insured at the fixed term for a period determined by the contract of insurance, like annually / monthly study annuity and these named person must have at least 14 years when study annuity will start to be paid.

BENEFICIARY IN THE EVENT OF ACCIDENTAL DEATH is the person named in the contract to receive the additional sum insured for this risk and he can be the beneficiary of the annuity or another person. There are no restrictions on age.

COVERED RISKS

By the basic insurance:

• The payment of the sum insured like studies annuity whether if the insurer is alive or not at the end of policy.
• Exemption from the payment of the insurance premiums in case of death of the insured persons

Through additional insurances, with covering 24 of 24 hours:

• Death by accident (the sum insured for this risk is equal to the sum insured for basic insurance);
• Total or Partial Permanent disability from accident, corresponding to the degree of disability set (sum insured is equal to the sum insured for the basic insurance, or double that);
• Fractures due to accident (sum insured for this risk may be lower than sum insured for the basic insurance or equal to this amount)
• Burns due to accident (sum insured for this risk may be lower than sum insured for the basic insurance or equal to this amount)
• Temporary disability due to accident (daily allowance for hospitalization and convalescence will be established by the contractor , but may not exceed 30 EURO or equivalent in LEI, payable for a maximum period of 90 days in total per year);
• Temporary disability from disease, for hospitalization or hospitalization and ambulatory care (daily allowance for each day will be established by the contractor, but can not be more than 30 EURO or equivalent in LEI , payable for a maximum period of 90 days in total per year).

BENEFITS

• Full protection (24 of 24 hours);
• Payment of insurance indemnity in case of permanent disability, fractures, burns who are determined as a percentage from sum insured corresponding to their type mentioned in indemnity scale;
• In case of death of the insured, ASIROM granted exemption for payment of the premiums, and insurance remains valid and exempted from the payment of premiums;
• Sum insured or reduced sum are guarantee for contracts that have stopped the payment of insurance premiums, only if the premiums were paid during the period indicated in the terms of the insurance;
• Increasing the sum insured with a bonus which is grated annually, from the second year of insurance.
• Flexibility in payment of insurance premiums: annual, semi-annual, quarterly or monthly installments;
• Possibility to opt for indexing the sum insured at the beginning of each year (after the first year of insurance up to early the last year), thus giving protection against inflation;
• The possibility to delay the payment of rent, within a period between 1 to 5 years;
• The granting of bonus during to delay of rent payment, even for the redemption amount.
• Possibility to terminate the insurance contract before the expire term by paying the surrender value, if premiums were paid for at least one continuous year of insurance, but not earlier than one year from the date of conclusion of the insurance contract
• Given two months period of grace for the payment of premiums;
• Possibility to reactivate the insurance policy within two years from the last installment paid, through full payment of outstanding premiums or by reduction the sum insured
• The payment of the indemnity if the insured opted for one of 6 additional insured risks ASIROM.