Citibank Romania Offers New ING Life Insurance Solutions

In response to the growing customer demand for reliable insurance solutions, Citibank Romania is now offering to its customers the possibility to contract two life insurance products. Regal and Academica are the two products developed by ING Asigurări de Viaţă, which efficiently combine the benefits of a traditional life insurance with those of a saving product, said the bank in a handout.rnrnAcademica allows customers to save money for their children, until they turn at least 18 years old. Having decided upon the amount a customer wishes to pay, premiums are paid every 1, 3, 6 or 12 months and the maturity benefit is guaranteed and paid over five years or all at once when the child reaches 18 years old. In addition, Academica tops-up the guaranteed sum with a share of the profit from the Insurer’s investments. At the time of signing the insurance contract, the customer must be between 18 and 60 years old, have an active Current Account opened with Citibank Romania and his child must be under 17 years old. If during the payment period the decease of the payer occurs, the insurance contract continues and ING Asigurări de Viaţă takes over the premium payments until the maturity of the contract. rnrnRegal Life Insurance is a life insurance solution that offers a double benefit, enabling a customer to save money and, at the same time, giving him the opportunity to insure the financial security of the beloved ones, in case something unpredictable happens. At maturity, the customer receives a guaranteed sum and a share of the profit from the Insurer’s investments. At the time of signing the insurance contract, the customer must be aged between 18 and 65 years old and have an active Current Account opened with Citibank Romania. rnrnFor both products, the customers have the flexibility to change the frequency of the premiums payment, increase the premium value and the sum insured annually and they can also attach riders. Moreover, premium discount is available for those paying quarterly, half-yearly or annually, and to those paying a larger premium.rnrnKumar Ramachandran, Consumer Head at Citibank Romania declared: “The partnership with ING Asigurări de Viaţă on the life insurance solutions offer is based on Citibank’s focus on continuously expanding its retail banking offering in Romania by giving customers a wide range of options to grow as well as protect their wealth”.rnrn“I am confident that the life insurance with saving component and the children financial plan offered by ING Asigurări de Viaţă to Citibank clients are a comfortable and efficient solution for wealth accumulation and provide in addition a unique benefit: financial protection of the family. Through the partnership with Citibank, we offer customers a new and convenient channel to cover the need of financially protecting their families”, Cornelia Aurelia Coman, CEO ING Asigurări de Viaţă, said.rnrnAbout Citi rnrnCiti, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com rnrnAbout Citibank RomaniarnrnCiti has been present in Romania since 1996 and provides high-quality financial products and services to national and international companies, small and middle enterprises, the public sector, non-profit organizations and individuals. Additional information may be found at www.citibank.rornrnAbout INGrnrnING Group is one of the world’s most powerful Financial Services providers, of Dutch origin, offering banking, investment, insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries, through a diverse workforce of over 105,000 people. ING Life Insurance entered the Romanian market in 1997, since 1999 being the leader of the life insurance market, with 32% share at the end of 2009.rn