Hellenic Alico Life, a new life insurance company, is the outcome of a strategic cooperation between Hellenic Bank Public Company Ltd and Alico AIG Life, both of which participate in the Company's share capital with 72.5% and 27.5% respectively.

The Hellenic Bank Group is the first to offer Bancassurance products through its branch network in Cyprus.

Why is Hellenic Alico Life one step ahead?

• Products are provided through the branch network of Hellenic Bank
• Flexible, friendly and competitive products
• Incredibly simple application procedures

Bancassurance is applied on retail products offered by the Bank.

In emergency cases, the products are aimed at protecting:

• The customer's family
• Other insurance schemes in effect
• Guarantors

In cases where:

• The customer loses their life (from any cause)
• The customer becomes permanently totally disabled (from any cause)

In the above cases, the insurance company will settle any pending obligations (such as loans), and will give any excess amount to the customer's family. Additionally, any other insurance schemes in effect (such as educational insurance schemes) will also be protected.

Loan Insurance

• Life and permanent total disability insurance from any cause
• Eligible applicants are all customers of Hellenic Bank who have a loan and are between 18 and 60 years of age
• Very competitve annual premium
• Payment of annual premium on loan balance
• Option of insurance renewal up to the 65th year of the customer’s age

Overdraft Insurance

• Life and permanent total disability insurance from any cause
• Eligible applicants are all customers of Hellenic Bank who have an overdraft account and are between 18 and 60 years of age
• Very competitive annual premium
• Payment of annual premium on overdraft limit
• Option of insurance renewal up to the 65th year of the customer’s age

Credit Card Insurance

• Cover balances of up to C£10,000 (€ 17,087) per credit card, or the limit if lower
• Life and permanent total disability insurance from any cause
• Eligible applicants are all customers of Hellenic Bank who are credit card holders and are between 18 and 60 years of age
• Monthly premium is only C£ 0,75 (€ 1,28) 
• Payment of monthly premium only if a debit balance exists
• Option of insurance renewal up to the 65th year of the customer’s age

Hire Purchase Insurance

• Cover for retail hire purchase loans of up to C£50,000 (€85,431) in total, per person
• Life and permanent total disability insurance from any cause
• Annual premium of only C£4 (€6,83) per thousand
• Single premium payable at the start of the contract
• Option of insurance renewal up to the 65th year of the customer’s age

Total sums assured per person for all financial facilities above: C£300.000 (€ 512,581).