Loan protection insurance
What is loan protection insurance?
Extra protection against unforeseen situations, added to your iute loan, within the same contract. If an insured event occurs, it repays your loan for you. The insurance covers you for 12 months, in three situations: accidental death, critical illness and hospitalisation following an accident.
Loan protection insurance from iute is the first product of its kind on the non-bank lending market in the Republic of Moldova, offered together with DONARIS Vienna Insurance Group and iute Affinity.
Worldwide coverage.
You are protected at home, when travelling and when working abroad.
One cost, one instalment.
The insurance is paid together with your loan, with no separate payments.
Everything in Myiute
Apply for your loan and insurance in one place.
Transparent conditions
See all conditions and costs before signing the contract.
What it covers:
- Accidental death: the insurance repays your outstanding loan balance in full.
- Critical illness: cancer, stroke, coronary artery bypass surgery or major organ transplant. The insurance repays your outstanding loan balance, and you receive up to EUR 5,000 directly into your account.
- Hospitalisation following an accident: if you are hospitalised for at least 7 consecutive days, the insurance pays one monthly loan instalment.
A unique service: second medical opinion
If you already have a diagnosis, you can submit it for a second medical opinion. You choose one of the world’s leading medical centres, your medical file is translated and forwarded, and you receive the second opinion in your own language.
All costs of the service are covered in full, at no additional charge to you.
How to get the insurance
- Apply for a loan on our website, in the Myiute app, in our branches or at iute partners.
- Choose the insurance and find out on the spot what it covers and what it costs.
- Sign once, for both the loan and the insurance, and receive your certificate immediately.
Useful information
The loan holder, aged between 18 and 63, with a residence permit in the Republic of Moldova.
The cost depends on the amount and duration of your loan. The exact amount is stated in your insurance certificate, you see it before signing, and you pay it in instalments together with your loan instalments.
The protection lasts 12 months from the start of the loan contract. If your loan runs for a longer period, the insurance is renewed for the remaining period.
At the end of the 12 months, if you cancel the insurance, or if the cost of the insurance is not paid as set out in the certificate. Repaying your loan early does not interrupt the protection.
Yes. Within the first 14 days you can cancel at no cost. You can also cancel at any time afterwards, with a refund of the cost for the remaining period, provided you have made no claims.
The indemnity goes directly into your loan account and repays it. In the case of critical illness, the additional amount is paid to you, into your account.
Yes, the protection is valid anywhere in the world. If you change your permanent residence from the Republic of Moldova, please notify us within 14 days.
Hospitalisation is covered if it results from an accident and lasts at least 7 consecutive days. Serious illnesses are covered separately, under the critical illness risk: cancer, stroke, coronary artery bypass surgery or major organ transplant.
Conditions you already had before taking out the insurance are not covered. For critical illnesses, the protection starts after the first 60 days from the start of the insurance.
The insurance has a number of exclusions, set out in full in the insurance conditions, which you receive together with your certificate.
No. It is optional and does not influence the decision on your loan.
- Submit a claim at portal.affinity.iute.com within 30 days of the event.
- Complete the claim form and attach the required documents.
- You receive a decision within 30 days of your file being complete, and the payment within 10 days of the decision.