Commercial Union Poland Life Insurance Company and Deutsche Bank PBC in Poland have begun cooperating in bancassurance. From today, CU Endowment Insurance is being offered at the bank’s branches.
Commercial Union Poland Life Insurance Company and Deutsche Bank PBC in Poland have begun cooperating in bancassurance. From today, CU Endowment Insurance is being offered at the bank’s branches.
CU Endowment Insurance (which is being offered by the bank under the name of Commercial Union deposit policy) is concluded for six months. The minimum premium is 5,000 Polish zloties (Ł879). It is intended both for existing Deutsche Bank PBC customers in Poland and also for those who have not made use of the bank’s services so far. The insurance payout is exempt from capital gains tax, to which bank deposits are subject.
One advantage of the new insurance – in comparison with many other products on offer in this market segment – is that the payout, which is the life cover sum (premium multiplied by a special insurance indicator) , is paid out both when the term for which the contract has been concluded expires, and in the event of the customer’s death while the contract is still in effect.
Zygmunt Kostkiewicz, deputy chief executive, CU Life, said: "This is a promising beginning to cooperation with Deutsche Bank PBC in the field of bancassurance. We hope that it will grow substantially. As we have already announced, we want to have a presence in the market for short-term investment policies which offer tax advantages, as this is the fastest-developing segment of the life insurance market as offered by banks."
Paweł Burkiewicz, director of the individual customers product management department of Deutsche Bank PBC in Poland, said: "Bancassurance products are an excellent addition to the range of investment vehicles offered by Deutsche Bank PBC, which includes deposits, mutual funds, equities and bonds. The quality of services offered is guaranteed by the fact that Deutsche Bank PBC works only with well-known partners, and Commercial Union is obviously one of them. The consistency with which we operate brings clear benefits. This is yet another instance where good results may be expected."
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For more information contact:
Bohdan Bialorucki
tel. + 48 22 557 43 41
e-mail: bohdan_bialorucki@cu.com.pl.
For further information, see www.cu.pl
Notes to editors:
Commercial Union Poland Group is part of the international Aviva group The world’s sixth largest insurance, savings and investments group, and the largest in the United Kingdom by revenues. Aviva group operates in over 25 countries. It occupies a strong position in the European Union, including United Kingdom, Ireland, France, the Netherlands, Spain, Italy and Poland. Worldwide, Aviva group services over 30 million customers and manages assets valued at over Ł290 billion. For additional information, see the website http://www.aviva.com.