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Personal Loan repayment insurance is an insurance product that protects borrowers from the financial consequences of being unable to repay their credit obligations due to reasons beyond their control. For example, illness, accident, or job loss.

This insurance is provided by MetLife Europe and MetLife Europe Insurance and distributed by Revolut Insurance UAB, who acts as a broker.

MetLife Europe and MetLife Europe Insurance will pay to Revolut Insurance UAB an intermediation commission related to the insurance product sold.

The Basic package covers death and total permanent disability (due to illness or accident) with a payout of 100% of the loan outstanding. It also covers up to 12 loan instalments, up to maximum 1,500 euro per month, for hospitalisation and temporary total disability.

By selecting the full package customers can supplement the Basic package with protection against job loss, which covers up to 12 loan instalments.

• Private individuals who do not have residence or domicile in the country where the loan was purchased
• Customers aged 70 years and over
• Hospitalisation shorter than 4 days
• Death/disability/hospitalisation due to illness, during the deferral period of 3 months
• Customers above the retirement age
• Involuntary loss of employment during the deferral period according to the Insurance T&Cs
• Loss of employment shorter than 30 days

You can view the full list of exclusions for death, permanent disability, hospitalisation, and temporary disability in the Insurance T&Cs and in the Involuntary Loss of Employment Insurance T&Cs available in the Revolut app.