Account insurance is a group accident insurance policy that KBC Bank has taken out with KBC Insurance and which you can sign up to for most current accounts and savings accounts at KBC. Costing 4.80 euros euros a year per insured account, it provides financial compensation if you die or become totally and permanently disabled as a result of a covered accident (degree of disability of at least 67%). The amount of compensation is calculated on the basis of the balances on the insured accounts. You choose the accounts you want to insure.

Example

Suppose you have three savings accounts and two current accounts but you only want to insure two of those savings accounts and one of the current accounts. You will then pay an annual contribution of 4.80 euros for the account insurance you take out for each of the current or savings accounts covered. In this case, that is 3 x 4.80 euros. The annual contribution is debited automatically from the insured account in question.

You choose the accounts you want to insure. The account holder is usually the insured person under our account insurance. If you have a joint account, you and the other account holder(s) are insured in equal measure.

You’ll receive compensation as a result of a covered accident in the event of:

• Disability to a degree of at least 67%
  If you are covered by this insurance and become totally and permanently disabled, we will pay the compensation to you.

• Death
  If you're covered by this insurance and die, we will pay the compensation to your beneficiary or beneficiaries (if there's money on the account).

The standard designation is that the first in line to receive compensation is your cohabiting spouse or legally cohabiting partner. If you're not married or aren't officially living with someone, the compensation is paid to your children. If you don't have any children or an officially cohabiting spouse or partner, the compensation goes to your estate.

The compensation we pay for an insured accident comes to at least 1,875 euros per insured person and is based on the sum of the balances of all the insured accounts.

Beneficiaries also receive additional compensation of 1,250 euros for each child who is a dependent of the insured person. The total compensation (including additional compensation for dependent children) can be as much as 125,000 euros per insured person, regardless of the number of accounts held and the balances on the accounts.

If the insured is aged 70 or older at the time of the accident, the amount of compensation automatically will be reduced by a percentage depending on the insured's age when the accident occurs.

• Participation in and training for speed races, time-speed distance (TSD) rallies, skills-based competitions
• Accidents caused deliberately or due to serious error
• Accidents caused whilst in a state of alcoholic intoxication of more than 1.5 pro mil or in a state of drunkenness

This insurance is valid worldwide and is governed by the laws of Belgium.

Taking out and terminating this insurance on a current account is only possible through a KBC branch.

For a savings account, that can be done by contacting your KBC branch or by digital means (KBC Mobile or KBC Touch). In that case, all you have to do is:

1. Select the relevant savings account in KBC Mobile or KBC Touch and then go to the 'Manage' tab
2. Enable/disable account insurance

Important: You can only take out account insurance for certain types of savings account.

Interested in taking out account insurance?

See our Insurance Product Information Document for account insurance to learn more about the cover before getting it for your account. The information document and insurance conditions can be obtained free of charge from your KBC branch or using the link above.

You can submit any complaints you may have by e-mail to complaints@kbc.be, tel. 016 43 25 94 and/or by e-mail to ombudsman@ombudsfin.be.
This does not affect your right to take legal action.