The Bank of Valletta has launched the BOV Lifelink Payment Protection Insurance, a new product that is designed to give peace of mind to new and existing BOV Home and BOV Personal Loan customers. The product complements the existing range of BOV Lifelink life assurance, saving and investment plans, meeting an even wider spectrum of customer needs.

Explaining the features of the new product, Robert Ducker, executive head responsible for Bancassurance and Pensions at Bank of Valletta said that in the event of an unexpected accident, sickness or unemployment, the BOV Lifelink Payment Protection Insurance pays a monthly benefit for a pre-determined period. In contrast, the BOV Lifelink Payment Protection Insurance will pay the outstanding loan balance in the event of death; however this option applies only on BOV Personal Loans.

Premiums are paid on a monthly basis and are usually calculated as a percentage of the monthly loan repayment.

The new policy may be taken out by customers aged between 18 and 65 years. The product is being offered in conjunction with Middlesea Valletta Life and Middlesea Insurance.

Full details and quotations may be obtained from any Bank of Valletta branch, by logging onto www.bov.com or by calling the BOV Customer Service Centre on 2131 2020.