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Pannónia Alkony Life Insurance is a whole life product covering funeral-related costs. By purchasing this policy, you will be able to make your funeral arrangements in advance and spare your loved ones the burden of funeral expenses and many of the other responsibilities that have to be taken care of. Moreover, it is the optimal tool for taking care of your inheritance.

You can choose from various funeral packages and - in exchange for your premium payments - our service provider partners will carry out the funeral service of your choice at the time of your death. The insurer pays the costs and coordinates every aspect of the funeral. There is a joint life version that covers the funerals of two people. After one of the policyholders has passed away, the surviving policyholder no longer has to pay premiums.

Anyone between 50 and 80 years of age can take out this policy without a risk assessment. The insurer’s funeral-related obligations begin the moment the policy is purchased.

The policyholder can choose their own premium payment schedule (which can range between five and 20 years). The premium may be paid monthly, quarterly, half-yearly or yearly by postal check, bank transfer or direct debit. The premium will not increase during the life of the policy even if inflation drives up the value of the guaranteed service. There are various premium payment discounts depending on the mode and frequency of payment.

One-off premium payments can complement regular premium payments. Since the inheritance accumulating from such payments is not subject to probate, the beneficiaries will be able to access the amount and its proceeds without delay and free of both inheritance and interest tax. Since the insurer invests the premiums in government securities, they are guaranteed to be a safe investment that will retain its value. The money accruing from one-off premium payments is a liquid form of savings, which can be accessed any time it is needed.

 

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