Garant Individual - an updated life product provided to Romanians by ASTRA Asigurari

Starting with 21.06.2010, the ASTRA Asigurari company will provide its customers with the Garant Individual life insurance product, a unique insurance package on the market at this time, in an improved version and a price that is more attractive to the client.

The Garant Individual Product provides protection to the family of the insured in case of death due to any cause. Garant Individual has a target with ages set between 16 and 75. The contract term may be included by ASTRA Asigurari between 1 and 59, under the conditions where most insurance companies offer coverage for no more than 30-35 years.

Product novelties

The product provides a series of competitive advantages that make it more attractive compared to other similar products on the market. Thus, the client may opt for changes at any time during the contract development: change of the insured amount, of the insurance premium, of the payment frequency.

Another considerable advantage is the option of changing the contract term. The product provides a surrender value, unlike similar products on the market. The client may fully or partially surrender the contract, after 3 years of the continuous validity thereof, which means that it may recover a part of the premiums paid on term to the insurance company. Moreover, ASTRA Asigurari provides the client with the option of replacing an insurance product with another, preserving the surrender value.

Natural person beneficiaries of the insurance contract may collect the compensation as periodical payments, and the frequency of payments will also be established by the beneficiary.

“We are permanently connected to the market and to our clients’ needs. As we want to be as close as possible to them, we want to provide them with protection products that are truly competitive. Therefore, we have adapted Garant Individual to the profile of the insurance end-user in Romania 2010 and to the current economic-financial conditions, performing the update of this product that we already had in our portfolio. We have brought extra value to the client and we have improved the product with a series of benefits, and all such attributes provide Garant Individual with the features of a unique insurance package at this time on the local life insurance market”, declared Radu Mustatea, President of the ASTRA Asigurari Directorate.

Standard features:

The Garant policy can be assigned in favor of the bank at any time during the contract development. Leasing companies may also be beneficiaries. The contract is valid worldwide, with no territorial limit. Moreover, it is possible to expand certain benefits to the family (spouse/children) in the following cases: hospitalization, surgery, fractures and burns.

The insurance premium may be paid periodically, according to the client’s option: annually, half-yearly, quarterly, monthly or a single time, on the contract conclusion. The lower the payment frequency, the higher the client’s discount.

The price of this policy is extremely advantageous as the value of a monthly premium amounts to only lei 50.

Garant Individual is a modular, flexible product that can adapt to the clients’ insurance options by the attachment of additional provisions such as: death due to an accident, permanent disability due to an accident, death or disability due to an accident, serious disorders, hospitalization due to an accident, hospitalization due to any cause, surgery due to an accident, surgery due to any cause, fractures and burns due to an accident, permanent and total disability due to any cause, permanent and total disability due to an accident, premium payment exemption (under specific conditions).

For any type of additional details on this product, clients can access the ASTRA Asigurari advisors in any of the over 250 branches around the country. The list of the ASTRA Asigurari territorial units can be accessed on the www.astrasig.ro website, as well as on the company’s facebook page: http://www.facebook.com/home.php?#!/astra.asigurari1?ref=ts.

About ASTRA Asigurari

At the end of Q1/2010, ASTRA Asigurari registered a net accounting profit amounting to RON 4,850,731 RON and a 65% increase compared to the 1st quarter of 2009, as the company came in First in the Top Romanian Insurers. The volume of the total subscribed gross premiums (life and non-life) registered by ASTRA Asigurari as of 31.03.2010 amounted to RON 329,821,943, of which RON 327,089,944 is the volume of gross premiums subscribed to general insurance.

During the first quarter of 2010, life insurance increased by 88% compared to 31.03.2009, and the performed subscribed gross premiums amounted to RON 2,731,999. Important increases were registered for the following products: Garant, with subscribed gross premiums amounting to RON 1,603,136 (53% increase) and Economica, with subscribed gross premiums amounting to RON 350,431, increasing by 392% compared to the similar period of the previous year.

At the end of March this year, within the Award Gala of Insurance Market Awards, ASTRA Asigurări received the “Insurer of the Year” Award, on the general insurance segment. For the successful implementation of the system on the electronic issuance of insurance policies, ASTRA Asigurări, the most important insurance company with Romanian majority capital was awarded the Special Award for PROFESSIONALISM and PERFORMANCE.

Another awarded presented to ASTRA Asigurari for its achievements was the Award on “The most dynamic Insurer on the Agriculture segment in 2009”, provided by the FinMedia media trust.

Press Office - mihaela.constantin@astrasig.ro