Income Protection

Apply for Garanti Income Protection, and always be prepared against misfortunes
.

Don't worry about losing your job or encountering an unexpected incident, your income is protected with Garanti. Maintain your life standard with the Income Protection Insurance even if you experience undesirable events.
With the Income Protection Insurance, your expenses such as monthly telephone, adsl, electricity and water bills are paid even if you lose you job. Within the scope of the insurance, for 1 year, Garanti Pension guarantees to pay 10 times the monthly expense that you have determined in case you lose your life or become disabled due to an accident, and  the monthly amount that you have specified if you are a salaried employee and involuntarily lose your job.
For detailed information, you can call 444 0 333 Alo Garanti or visit the nearest Garanti branch.

* The Income Protection Insurance is offered by Garanti Emeklilik ve Hayat A.Ş.

  • Coverages and Additional Information

    With Income Protection, the coverage amount specified in the policy is paid to the beneficiaries in case of death or disability due to an accident. In addition to these coverages, your expenses for up to 6 months are covered if you are a salaried employee and involuntarily lose your job, or if you are self employed and hospitalized.

    Income Protection
    Insurance Coverage In case of loss of life due to any cause, disability due to accident, unemployment for salaried employees in the private sector, hospitalization for self employed individuals, specified monthly compensation payments are made for up to 6 months per each insurance year till unemployment or hospitalization status comes to an end.
    Coverage Amount You can make a selection from among packages that contain coverage amounts from TL 331 to TL 1000 within the limits specified below. Coverage limit is fixed 500 TL  for branches. For salaried employees, it cannot exceed 70% of net salary (50% of gross salary). For self employed, it cannot exceed 70% of monthly after-tax income. (50% of before-tax income).
    Insurance Premium The insurance premium varies according to the health status and the insurance coverage amount.
    Benefits In case you lose your life or become disabled due to an accident, you and your loved ones will be secured. Furthermore, you will have protection in case of involuntary unemployment or hospitalization due to accident or illness.
    Insurance Period While Garanti Pension and Life reserves the right to reassess the insurance policy for annual renewal, it is extended at the end of the 1-year period.

    With the Income Protection Insurance you can take advantage of many coverages:

    Coverages for loss of life and permanent disability due to accident

    In case you lose your life or become disabled due to an accident, 10 times the monthly expense amount that you have determined is paid to your beneficiaries.

    Involuntary Unemployment Coverage

    In case you involuntarily lose your job without being at fault although you are willing and able to work and have the necessary competence and health conditions, you have protection against loss of income. If you are a salaried employee and want to take advantage of the Involuntary Unemployment coverage, you need to work for at least 12 months consecutively at the moment of  loss. Policyholders receiving compensation for involuntary unemployment cannot also receive compensation for hospitalization.

    Eligibility Requirements for Involuntary Unemployment

    There is a 180-day exclusion period dating from the inception of the policy and you need to have been out of work for a minimum of 30 consecutive days.

    You must have been insured for 180 days after the start of the insurance to be eligible for making a claim for involuntary unemployment.

    Daily Hospitalization Coverage

    With the Daily Hospitalization Coverage, if you are self-employed and hospitalized due to an illness or accident for at least (7) full days at a hospital approved by the T.C Ministry of Health, you are covered against the loss of income that may occur during your hospitalization. To benefit from the coverage, you must have been employed for at least 120 days from the start of the policy and must be hospitalized for at least 7 consecutive days.

    Requalification

    To requalify for involuntary unemployment and hospitalization coverages, 120 days must have passed for hospitalization due to the same reason, and 30 days must have passed for hospitalization due to different reason.


    * The Unemployment Insurance is offered by Garanti Pension and Life A.Ş.

  • Fees
    Gross Earnings (TL) Suggested Unemployment/Hospitalisation Compensation Amount (TL) (Min. 6 months) Suggested Death/Permanent Disability Due to Accident Compensation Amount (TL) Monthly Compensation Amount –TL (9 Payments)
    715,00 - 1.000,00331,003.310,0018,53
    1.002,00 - 1.525,00500,005.000,0028,00
    1.526,00 - 2.057,00750,007.500,0042,00
    2.059,00 - 3.175,001.000,0010.000,0056,00

    Last Update : 09/12/2016 12:41

    *Coverage limit is fixed 500 TL, 750 TL or 1.000 TL  for branches.

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