Credit Cover

68% of cases are due to incapacity for work*
The highest indemnity for incapacity for work was 2500€*
The highest indemnity for unemployment was 3000€*

Insure yourself against an unemployment and incapacity for work

Credit Cover will help you make your credit card repayments.

Credit Cover insures your credit card repayments should you unexpectedly lose your job or fall ill.
You only pay insurance premiums if you use your credit card limit.
If unemployment or incapacity for work lasts longer then 13 months, we‘ll reimburse the whole outstanding balance.
You‘ll pay for the insurance only if you use the credit.

*A summary of losses in 2021 according to the data of Swedbank P&C Insurance AS on paid insurance indemnities.

Insurance payment
EUR

Credit Cover will help you repay your credit card liabilities, if you lose your job or stay on sick leave for more than 30 days in case of an illness or consequences of a trauma.
You’ll be charged for the insurance only if you use the credit. The rate of insurance premium is always the same: 0.55% of the used credit amount. For example, if you only used €100 by the end of month, the insurance will cost you as little as 0.55 EUR.
We will reimburse 5% of the used credit every month for up to 11 months. In case you haven’t returned to work after 12 months, the total credit balance will be paid out with the final payment.
This insurance is available to all Swedbank card holders between the ages of 18 and 62. Insurance contract will not be renewed after 63 years of age.

In case of incapacity for work

If you or your child gets ill unexpectedly, suffers a trauma, etc., and a treatment that lasts more than 30 days is required, we will provide indemnity for partial repayment of your credit card liabilities.

In case of unemployment

We will pay you the indemnity, if for example, you are offered an agreement to terminate employment, you are given a notice of termination of the contract due to downsizing or eliminating your position in a reorganised company.

The unemployment cover will take effect 90 days after the insurance contract has come into force. Cover is valid if Your permanent place of residence is Republic of Estonia.

The indemnity will be calculated starting from 30 days after the insured event.

In the Terms and Conditions you can find detailed information about insured events and exclusions, principles of indemnification and other important.

Choose a credit card contract and conclude insurance agreement through Internet Bank. The agreement and policy will be available on the Internet Bank.

For illness the insurance cover will take effect immediately after the insurance contract has come into force.

For unemployment the insurance cover will take effect 90 days after the insurance contract has come into force.

Submit the insurance application form, if you:

Have lost your job (you also need to register yourself as unemployed);
fall ill or get injured in an accident, and you won’t be able to work for more than 30 days (you also need to present the medical certificate confirming your long-term incapacity for work).

Fill in the claim form

Our claim handling specialist will contact you and provide further guidance.

Calculation of the compensation begins 30 days after start of insured event. 5% of the total credit amount used by the date of the insured event is paid each month to the credit card account.
After 12 months the remaining credit card balance will be compensated in full.
The interest payments are not compensated.
Payment of insurance indemnity will be suspended once you return to work or regain your health.

Insure your life if you have close ones you care about, and who depend on your income.

Insurance that helps you with loan repayments in case of losing your job or capacity for work.

Small loan is well-suited to purchase domestic appliances, home repairs, to cover medical costs, to start with entrepreneurship.