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03.07.07 Sum of insurance payments of VAB Life in June exceeded 100 thousand hryvnyas
During June, 2007 VAB Life carried out 4 insurance payments for an amount of more than 146 thousand hryvnyas, that exceeds by 51 % the payments for the same period of the previous year. Of these 57 thousands were paid on accident insurances related to the receipt of disability ²² status and 89 thousands on the risk of death.
All payments were carried out by agreements of life-insurance loan borrower VAB Bank.
According to Chairman of VAB Life, Natalia Derevyanko, multiplying the volume of insurance payments testifies the dynamic development of VAB Life. «Increasing sums of insurance payments are an index of our active work, stability and honest relationship with our clients», Natalia Derevyanko explains.
The basic feature of the program of life-insurance offered by VAB Life in the event of an accident insured by the company, it carries out the payment to the bank for the debt on the credit-side and to the insured person (or their heirs) the difference between the payment and amount covered.
«This insurance product has been met with a lively interest by many banks in Ukraine. Crediting of physical persons is the most dynamically developing sphere of the financial services, linked with a high degree of credit risk management. Collaboration with insurance companies, offering similar programs of the rapid return of credit debt, guarantees a straight forward decision of not simple questions, related to fraud of loan borrower by family members for the redemption of credits», Natalia Derevyanko remarked.
As reported before, with the aim to offer a complex service to customers in VAB Life a new product was developed on medical insurance. With it the clients of VAB Life can insure not only the risks of death and disability, but also get fixed payments for every day of stationary and ambulatory treatment.
Reference dataVAB Life is the legal successors of Joint-Stock Company «Insurance company «Leader Life», created in June, 2004.
In October, 2006 the company was re-registered with the new name VAB Life, following its integration in to the universal finance group of VAB GROUP.
VAB Life is a part of the international holding TBIH Financial Services Group N. V. (through Ukraine Pension and Insurance Holding B. V.), specialized on providing insurance services and services of the non-state pension.
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