Many of us will have heard of Hellenic Bank – you’re more than likely to have come across one of its branches at prominent locations in all cities across the island. Yet fewer of us know of a different aspect of the Group: Hellenic Life.
A member of the Hellenic Bank Group for over 20 years, Hellenic Life has extensive experience in the local Cypriot market, specialising in life, accident and health insurance.
Today, it offers a wide range of products that are carefully tailored to meet the needs of its over 85,000 current customers. It’s with accurate and effective risk management that Hellenic Life has seen its growth and vision materialise, largely through investing in state-of-the-art technological infrastructure to support its activities, while paying close attention to its human resources. As a result, and with a solvency ratio steadily above 300 per cent, it exceeds the regulatory threshold of 100 per cent significantly, and endeavours to provide a stable and reliable option to its ever-increasing customers.
As Hellenic Life strives to expand its operations while meeting the insurance needs of its customers, the insurance company is now in a position to offer new products via a recent digital upgrade of its services, which promise to eliminate time-consuming processes, while enabling the faster creation of products that respond to its customers’ needs even better.
One such product is the InvestPlus Investment Insurance Plan that provides customers with the potential to create capital through systematic savings. To this end, the plan covers both customers’ need for insurance, as well as investment and savings, making it an ideal option for those wishing to acquire systematic savings at a low insurance cost that covers accidental death and dismemberment. Premiums start from €50 per month, with the duration of the plan able to be extended. At the same time, the plan gives the opportunity to invest in one or more Hellenic Life funds, depending on the investment risk the client is willing to take, as well as their own investment profile. The plan also offers an array of important advantages, such as free units, an Emergency premium, partial or total withdrawal from the fund value, but what potentially stands out is that it can also facilitate reduced income tax.
Future Plus + Advance
At the same time, Hellenic Life offers the Future Plus + Advance plan that has been designed as an all-inclusive insurance scheme providing for a range of needs – including children’s educational, pension, and/or to ensure tax relief and high coverage from supplementary benefits. Specifically, the plan offers up to €500,000 short-term insurance, €30,000 for serious illness or permanent disability and €200,000 for accidental death and dismemberment pension. Future Plus + Advance also offers the choice of three investment funds (Basic, Balanced and Dynamic) which customers can choose to combine with a minimum investment of 10 per cent, per investment fund.
Critical Illness and Permanent Disability Plan
The Critical Illness and Permanent Disability Plan offers immediate coverage when needed, with a simple integration procedure that offers a low premium of €10-€20 per month and wide entry age of 18-55.
Ultimately, Hellenic Life’s new plans fall under the company’s main priority to upgrade all its software systems with the aim of reducing costs and improving the effectiveness and management of its products. Not only does this upgrade reduce time-consuming processes, it also enables the faster creation of products that ideally respond customer needs. As always, Hellenic Life aspires to increase its share in the Cypriot market via creating and consistently upgrading its digital services.
Creating a long-lasting relationship based on trust and inspiring confidence and peace of mind through its financial strength, credibility, professionalism and excellence in service, has been the Hellenic Group’s goal since its inception, and it has remained true to its values for over two decades.