Return of Premium

Return of Premium Life Insurance

Collect back the premiums you have paid, in case the risk does not occur!

Get Life Insurance with Premium Refund from Garanti BBVA Pension, and secure yourself and your loved ones against the unexpected risks of life. To boot, in cases the risk does not occur by the end of the policy period, you can get a refund on your premiums for life coverage.

Standart: The premium figures vary by your age and the coverage figure you will be choosing. You can pay your premiums on a monthly, quarterly, biannual or annual basis. You can benefit from this life insurance by paying a minimum of $ 50 per month.

The surrender rates for the year are given in the table below.

Insurance Year Surrender Deduction Rate
1 %100
2-8 %30
9-12 %0
Premium: The premium figures vary by your age and the coverage figure you will be choosing. You can pay your premiums on a monthly, quarterly, biannual or annual basis. You can benefit from this life insurance by paying a minimum of $ 120 per month.

The surrender rates for the year are given in the table below

Insurance Year Surrender Deduction Rate
1 %100
2-8 %15
9-12 %0

Insurance Year	Surrender Deduction Rate
1	%100
2-8	%30
9-12	%0

Insurance Year	Surrender Deduction Rate
1	%100
2-8	%15
9-12	%0

Features

Return of Premium Insurance is a life insurance covering 12 years, allowing you to get a full refund on your paid premiums, in case the risk does not occur.
During policy term, you can cover your loved ones in case of a possible loss of life.
Premium payments are collected in TL equivalent of USD. If you cannot benefit from the insurance at the end of the period, all of your premiums will be repaid in TL equivalent of USD. (On the collection and payment date, the effective selling rate of T. C. Central Bank is taken as basis.)
You can paid up your payments after the payment of your premiums for the first year. In such case, the premium payment obligation under the policy shall be removed, and the policy shall be put into status of being paid up.
The paid up policy’s coverage shall be reduced with reference to the technical principles of the product. If you wish to inforce your policy, you have to pay open dues.

The Case of Quitting

You can exercise your right of withdrawal from the policy within the first 60 days, and get a full refund on the premiums you have paid.
In case of failure to pay the premiums during the first year of the policy, following the expiration of the right of withdrawal, you will be deemed to have not performed the premium payment obligation under the policy, and your policy shall be terminated. No refund shall be given in such case.
You can exercise the right to quit (surrender) after the payment of your premiums for the first year. In case of surrender, the quit figure (surrender figure) shall be assessed with reference to the deduction rates applicable to the year of insurance you have quit in, on the basis of the mathematical reserve figure calculated in accordance with the technical principles of the insurance.

Tax Advantage

Take advantage of tax!

Whatever prodouct you prefer you can take advantage of tax. You can enjoy the tax advantage up to %40 offered the premiums you pay in the system as your life insurance continues to provide coverage.

A comprehensive example of the tax benefit can be reached here.

How to Apply?

For detailed information you can call 444 0 336. In order to apply you can visit Garanti BBVA branches or download Garanti BBVA Emeklilik Mobile from the button below.

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*If foreign currency earnings are obtained from premiums paid in TL against USD at the end of the policy maturity/departure time, this income will be subject to withholding.According to Article 15 of Article 94 of the Income Tax Law, withholding tax shall be taken from the difference between the TL value of the indemnity payment to be provided to the policyholder at the policy's maturity and the TL value of the premiums paid under the policy. Changes in the relevant tax rules may affect the rates and durations of deductions.