When can I withdraw my funds?

An insurance policy is a long-term agreement. In Vienna osiguranje you choose the premium and duration of the insurance agreement. Upon expiry of the agreed term, the guaranteed agreed insured sum and a bonus are paid out. This capital can be paid out as a lump sum or in the form of annuity, for example, pension. Vienna osiguranje offers its policyholders flexibility necessary to respect the specific life circumstances an individual can face. Thereby, we are offering something unique in the market - the possibility to change the agreement terms and adapt them to the new life circumstances. The agreement can be modified as soon as the first year of insurance expires, and once two or three years of payment are behind you, Vienna osiguranje can grant you a loan. The nature of the savings within the insurance programs is not that of a-vista savings in the bank, whereby the money paid in and the interest cannot be withdrawn whenever you want. In case of agreement termination, the policyholder can receive the surrender value. The surrender value is the value of life insurance total contributions and accumulated earnings minus all costs, such as coverage of the policyholder's mortality risk, operating and administrative costs, etc. The right on payment of surrender value is obtained following two or three years of insurance, depending in the insurance program.

How many insurance policies I can have?

Anyone can take as many life insurance policies as he/she wants. In that regard, you should choose insurances from the Vienna osiguranje's range of products which suit your needs the best.

Who gives the guarantee for Vienna osiguranje?

There are multiple guarantors:

  • the state of Bosnia and Herzegovina through competent institutions which regulate the insurance segment,
  • the parent company, Vienna Insurance Group, the biggest insurance group in Austria, Central and Eastern Europe which has become, after almost 200 years of existence, a synonym for stability and professionalism in provision of financial risk protection,
  • renowned reinsurance partners from the country and abroad.

What if I can pay premiums no more, and only less than 1/10 of the insurance term has expired?

Contact the Vienna osiguranje branch, by telephone or e-mail. You will definitely get the best advice and the necessary support. You have the possibility of extending the payment term, of reducing the premium amount, of policy paid-up, or of resting it. There are numerous possibilities, but only if you contact us on time. In case of agreements cancelled because of default in payment, agreement reactivation is possible within one year if the overdue premium installments are paid.

What is vinculation?

An insurance policy can be used as a security instrument. Pledging of insurance policy, i.e., vinculation, is binding for the insurer only if it has been informed in writing that the policy has been pledged to a certain creditor. Vinculation in favor of a bank for the purpose of granting of loans is possible at any moment, and it is implemented once the right on the policy surrender value is obtained.

How and when can I get an advance payment?

Based on the policyholder's request, Vienna osiguranje can make an advance payment in the manner defined by the agreement terms and conditions, subject to conditions defined by Vienna osiguranje. During the use of advance payment, the policyholder has the obligation of paying the interest on the advance payment. If the policyholder is default in paying the matured interest on advance payment, this shall be treated as request for insurance policy surrender. On the occasion of payout of the insured sum, i.e., during surrender, the value shall be reduced by the amount of outstanding advance payment. The right on using the advance payment is obtained following two or three years of insurance, depending on the insurance program.

Can insurance agreement terms and conditions be changed?

One year after the insurance policy conclusion, the following changes can be made:

  1. amount of the insurance premium (increase or reduce), whereby the new insured sum cannot equal to less than 50 % of the originally agreed sum
  2. insurance term, whereby the remaining insurance term has to equal minimum 5 or 10 years, depending on the product
  3. policy holder can be changed, from legal person to natural person and vice versa, as well as from one natural person to another
  4. put the policy in the „resting“ status - up to one year, with mandatory payment of the entire amount following expiry of the resting period

During this period, the policy holder is covered only for the capitalized value of the insurance agreement.

Can persons with life insurance policies be insured under health insurance programs?

Yes, and this is recommended, since in case of certain health insurance programs a discount is obtained on the premium if the policyholder also has a life insurance.

Can health insurance be concluded by policyholders with health issues?

Yes, policyholders both without health issues and those with health issues can have a health insurance policy. In case the policyholder's health is impaired, some of the health insurance programs can be agreed, with mandatory risk appraisal conducted by a doctor-censor, and with limitations defined prior to concluding insurance agreement.

Is it possible to have surgical interventions insurance program and the dread disease insurance program at the same time?

Yes, the programs offer different coverage, thereby a policyholder can have both insurance programs at the same time, thus maximizing his/her level of health protection.

Do I get the paid-in amounts following expiry of the health insurance?

Health insurance programs are not savings programs, whereby following their expiry the paid-in premium is not paid out by the insurer. Compensations arising from the agreed coverage are payable if they have occurred during the insurance term

What should I do to get a discount from the partners of the Vienna osiguranje loyalty program?

All life insurance policyholders have the right to use a discount in the network of polyclinics Vienna osiguranje has contract with, and with the additional accidents and surgical interventions insurance they get the right of using discounts in companies-partners operating in the segment of sports, healthy diet and wellness.