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.
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.