Insurance

Personal Accident Insurance on Capital Deposit

With Personal Accident Insurance, stay protected against risks such as death or disability caused by accidents or illness. This insurance product becomes effective from the moment your deposit is placed and provides financial protection for you and your family for a period of one year. For greater peace of mind and financial security, visit any Kapital Bank/Birbank branch today, open a deposit account, and benefit from these exclusive benefits!
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Terms

Insurance period: The insurance certificate becomes effective simultaneously with the deposit agreement and remains valid for a period of one year. The service fee is paid in cash at the time of issuance.

Primary covered insurance risks:

Death of the insured resulting from an accident Assignment of Disability Grade I to the insured as a result of an accident Assignment of Disability Grade II to the insured as a result of an accident

Insured: Deposit holders with a Kapital deposit

Beneficiary: Deposit holders with a Kapital deposit

Deposit Currency: AZN

Minimum Deposit Amount: 5,000 AZN

info

Personal Accident Insurance—comprehensive protection against unexpected events. This product provides coverage for serious risks such as the death of the insured, as well as Grade I, II, and III disabilities resulting from accidents or illness. The insurance certificate becomes legally effective on the same day the deposit agreement is signed and remains valid for one year. To benefit from this coverage, you must place a minimum deposit of 5,000 AZN at Kapital Bank/Birbank. The payout amount depends on the severity of the incident. In the case of death or Grade I disability, 100% of the insured amount is paid. For temporary Grade II disability, 40% of the outstanding loan payment is covered per period; for permanent Grade II disability, this increases to 60%. Personal Accident Insurance offered by Kapital Bank/Birbank transforms your deposit into a secure and purposeful financial tool. If you’re looking to safeguard yourself against life’s unforeseen risks, visit your nearest Kapital Bank/Birbank branch, open a deposit, and start benefiting from this valuable protection today.

FAQ
What is Personal Accident Insurance and why is it important?

Personal Accident Insurance is a product that provides financial protection to the insured individual or their family in the event of unexpected accidents or sudden illnesses resulting in serious health complications. This type of insurance, offered by Kapital Bank/Birbank, ensures additional security—particularly for deposit holders. In cases of severe injury or loss of life due to an accident, it helps cover financial losses and supports the well-being of the insured's family. Therefore, Personal Accident Insurance is a critical and responsible step for individuals who want to be protected in advance against unforeseen risks.

Who can benefit from this insurance product?

Any individual who places a minimum deposit of 5,000 AZN at Kapital Bank/Birbank is eligible for Personal Accident Insurance. This coverage applies exclusively to the deposit holder and requires no additional documents or application process. The insurance is activated automatically from the moment the deposit is placed, making it a fast and convenient financial security solution.

What risks are covered under the insurance?

Personal Accident Insurance provides compensation against several key risks:

  • Death of the insured due to an accident or illness
  • Assignment of Grade I disability (permanent or severe functional loss)
  • Assignment of Grade II disability, either temporary or permanent

The insurance payout for each risk is calculated based on predetermined percentage rates. This financial support helps reduce the burden during life-altering, unexpected events.

When does the insurance certificate become effective?

The insurance certificate becomes effective on the same day the deposit agreement is signed. This means that Personal Accident Insurance is activated simultaneously with the deposit—no additional steps or waiting period is required. This seamless integration offers deposit holders both time efficiency and convenience, with the insurance functioning in full sync with deposit terms.

How long is the insurance coverage period?

Personal Accident Insurance is valid for a period of one year. During this time, any eligible incident will be considered under active coverage. If the deposit is renewed at the end of the term, a new insurance certificate may be issued. The fixed-term nature of the policy allows for easy annual renewal when needed.

How is the insurance payout amount and payment process determined?

The insurance benefit is calculated based on the type and severity of the incident as follows:

  • In case of death or Grade I disability: 100% of the insured amount is paid
  • In case of temporary Grade II disability: 40% of the outstanding loan balance is paid
  • In case of permanent Grade II disability: 60% of the outstanding loan balance is paid

These payout rules are transparent and predetermined. Once the incident is verified, the compensation is issued as a one-time payment to the beneficiary.

What is the minimum deposit required?

To benefit from this insurance product, a minimum deposit of 5,000 AZN must be placed at Kapital Bank/Birbank. This amount is the minimum condition for activating the insurance coverage. Deposits below this threshold are not eligible for Personal Accident Insurance.

Is the insurance product available only in AZN?

Yes, Personal Accident Insurance is currently available only for deposits in Azerbaijani Manat (AZN). The product is not offered for deposits in other currencies such as US Dollar or Euro. This restriction is due to the policy terms and insurance calculations being based on the local currency.

What is the claims process in the event of an insurance incident?

In the event of an insured incident—such as disability or death—relevant medical documents, official reports, and certificates must be submitted to Kapital Bank/Birbank or the partner insurance company. After verification, the claim is approved, and a one-time compensation is transferred to the beneficiary’s account. The process is designed to be efficient, transparent, and swift.