Life insurance

Life insurance

Yearly life insurance -25% this Friday!

  • You or your close ones (depending on the situation) will receive compensation, should you get into an accident or should the worst happen to you. This compensation will help cope with daily expenses in an unexpected situation
  • Select the suitable life insurance from the comparison chart or use the calculator.
  • You can conclude the contract on the internet bank without a hassle.

This Friday, you will find a number of great deals from the Internet Bank. Read more.

In case of an agreement subject to risk assessment (if the application has been submitted on 24 November), the agreement should signed by 31 January 2018, at the latest, to receive a discount. If the application has been submitted before 24 November, the agreement should be signed on 24 November 2017 to receive a discount. No other bonuses (sum insured or healthy lifestyle bonus) will be added to the 25% discount.

Life insurance

Covers for the loss of income of a close one.

Life Insurance Plus

Compensates for the loss of income, covers major liabilities, and other expenses.

Sum insured 14 184 € From 20 000 €
The contract can be entered into by 18-50 18-68
Life insurance cover Yes Yes
No work ability cover - Yes
Trauma insurance Yes -
Double cover in case of traffic accident Yes -
Discounts - 10% healthy lifestyle discount. Discount of up to 25% based on the sum insured.
Read more
Monthly insurance payment From 9,46 € From 5,75 €
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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. Read more.

Life insurance 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 in Estonia. With the change of age during the term of the contract the percentage of the monthly average salary does not change. The sum insured under the contract changes every year based on the Estonian average gross annual salary calculated by the Statistical Office. Read more.

Age Life insurance monthly payment Trauma insurance monthly payment
18 - 30 9,46 EUR 2,36 EUR
31 - 40 11,82 EUR 2,36 EUR
41 - 50 14,18 EUR 2,36 EUR

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.

Injury Compensation sum Percent from the insurance sum*
Brain concussion 2128 EUR 15%*
Fracture of three ribs 567 EUR 4%*
Fracture of the elbow bone (each bone) 567 EUR 4%*
Fracture of index finger 284 EUR 2%*
Knee meniscus tear 284 EUR 2%*
Tibia fracture in ankle (each bone) 709 EUR 5%*
Fracture of the big toe 284 EUR 2%*
* 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 .

Contact agreement

  • 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.

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 cover table (mainly broken bones) the compensation is paid out as soon as possible after we have been notified of the accident and provided with the required documents. If an injury is not listed in the table, the compensation is paid out on the basis of a daily allowance after your doctor’s certificate has expired.


  • Insurance claims handling
  • 888 2111 (24h)

Please notify the insurance In the case of an insured event via insured person personally or via family member immediately. The services are provided by Swedbank P&C Insurance AS and Swedbank Life Insurance SE. Liivalaia 12, Tallinn 15039