Which insurance to choose?
We cannot avoid unexpected setbacks in life. Serious diseases or accidents or the loss of someone may hit each of us.
Life insurance does not make these events non-existent, but helps us cope much better with otherwise financially difficult
times, offering the necessary security capital. Life insurance creates peace of mind because you have done everything in your
power to protect your close ones and yourself.
Read more about advantages
- Healthy life discount:
- Monthly payment
Who needs protection?
Do you take care of your family's monthly utility bills? Do your repay any loan monthly? Who takes care of the
expenses related to your children's hobby groups?
If these expenditures are your responsibility, you should think of creating a sense of security for your family for
the time when you cannot help them any more.
What risks are covered?
- In the case of no work ability of the insured person, a life insurance contract helps to compensate for the
loss of income for the close ones and to pay major liabilities and other expenses.
In the event of permanent incapacity for work of the insured person, a person is, in general, in a very serious
condition, and is not able to work normally and earn their income. At the same time, new expenses may occur. In such case the
insurance indemnity would help to cope with all costs.
- Permanent incapacity for work
shall be deemed to be a long-term, very serious health disorder caused by an accident or a disease and having an
impact on the physical or mental abilities of the insured person, due to which the capability to work of the insured person
decreases by 90% or more. The indemnity for permanent incapacity for work will be paid, if the Estonian National Social
Insurance Board establishes permanent incapacity for work (90–100%) to the insured person for at least one year. The decision
on the payment shall be made by Swedbank Life Insurance SE, whereas in exceptional cases also additional documents or
analyses may be required.
Covers for the loss of income of a close one
Protection in the amount of Estonian average annual salary allows compensating lost income and paying unavoidable costs
in the case of loss of a family member. Primarily, entry into a contract is of importance for young families with children, who
have not yet managed to save money for unexpected events.
How the insurance premium is determined?
The insurance premium is determined based on your age at the time of entry into the contract and average monthly salary
Estonia. With the change of age during the term of the contract the percentage of the monthly average salary does not
The sum insured under the contract changes every year based on the Estonian average gross annual salary calculated by
the Statistical Office.
||Life insurance monthly payment
||Trauma insurance monthly payment
|18 - 30
|31 - 40
|41 - 50
What risks are covered?
- In the event of death of the insured person, a life insurance contract helps to compensate for the
loss of income for the close ones and to pay major liabilities and other expenses. A double indemnity is paid in the case
of death through a traffic accident.
- Trauma cover represents additional insurance in the event of an accident. It ensures that additional compensation will be paid
out to you should you suffer serious injuries (such as broken bones).
Examples of trauma and compensation
If you should be in an accident recovering from which takes a longer period of time, the insurance will pay you compensation. Read more about different injury and compensation from trauma insurance terms and conditions.
||Percent from the insurance sum*
|Fracture of three ribs
|Fracture of the elbow bone (each bone)
|Fracture of index finger
|Knee meniscus tear
|Tibia fracture in ankle (each bone)
|Fracture of the big toe
* The trauma insurance compensation sum is calculated as a percentage from the supplementary insurance sum. The
supplementary insurance sum is always equal to the life insurance sum that until 01.04.2018 is €14 184 .
- You can enter into a life insurance contract comfortably in internet bank, without leaving home.
- The insurance cover
will enter into force immediately after signature of the insurance contract (the policy has been issued). The additional
accident insurance shall become valid on the day following the day of concluding the contract.
- To entry into the contract you have to confirm a health declaration. The declaration contains four items about the
health of the policyholder. Insurance premiums are paid by e-invoice standing order agreement every month – 12 times a year.
The amount of premium does not change during the year.
- You can withdraw from the contract at any time - visit our branch or call to investment support for this purpose.
Cancelling the contract is free of charge.
- This life insurance contract is not a contract where accumulation of funds and life insurance are linked. The
policyholder pays only for the insurance cover and no insurance sums will be refunded, irrespective of whether an insured event
occurs or not. In this respect, this life insurance can be compared to the comprehensive insurance for cars.
To get more information You can also send us a message using the following form.
Payment of indemnity
the case of death of the insured person the sum insured is paid to the person you have designated in the contract;
usually, this is a family member or a person important to you.
In the event of trauma you are paid the insurance amount directly. In the case of the injuries listed in the trauma
table (mainly broken bones) the compensation is paid out as soon as possible after we have been notified of the
provided with the required documents. If an injury is not listed in the table, the compensation is paid out on the
a daily allowance after your doctor’s certificate has expired.