The termination of risk assumption. The risk assumption of the Insurer shall end – and at the same time the Insurance Contract shall terminate: – if the insurance premium due has not been paid within 30 days of the due date and the Contractor has not been granted a period of grace or if Insurer has made no legal claim of the premium recovery – on the day of insurance anniversary – on termination of the contract – upon the death of the Principal-Insured – on the day the Principal-Insured turns 70 years of age. The Insurance shall terminate with respect to the Co-Insured on the day of insurance anniversary if he/she – has turned 70 years of age – diseased.
The termination of risk assumption. The risk assumption of the Insurer considering the card holder shall end – on expiry of insurance contract between the Contractor and the Insurer – on non-payment of the insurance premium – on expiry of the credit card contract which constitutes the basis for these insurance conditions – on the death of the Insured – in case the Insured submits a written declaration applying for the termina- tion of the insurance coverage for their person. The termination of the insurance does not have any effect on the judgement of the losses resulting from insured events occurred prior to the termination, being in progress, or pending. The risk assumption of the Insurer shall cover any country in the world except Hungary, however, in case of the occurrence of insurance events like acci- dental death or accidental disability the risk assumption shall cover Hungary as well. If the Insured is a person qualifying as non-resident under the Foreign Exchanges Act the risk assumption of the Insurer does not cover the insured events occurred in Hungary and in the country (countries) of citizenship(s) of the Insured.