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Life insurance

Life insurance. Insurance out of love

Conclude now and get a 15% discount on insurance contributions for a year!

With life insurance, you can worry less about your financial matters, as the insurance will help:

  • your family in case of your death;
  • yourself if you will be declared with no work ability and you are no longer capable to go to work;
  • yourself in the event of accidental trauma (e.g. bone fractures).

Anti-Bullying service* - designed to provide support for parents and their children in the case of a bullying event.

* Service provided by Foundation Fonds PLECS

Life insurance calculator

Life Insurance

What is your monthly income after tax (i.e. net income)?

We will use your income to calculate the recommended sum insured and to conclude a contract.

The sum insured should cover the income that is lost in the event of your no work ability or death.
Calculate your average net income for the last 6 months (this includes salary, your pension and social security benefits, income from business, including dividends).
Do not include here income from investments, renting out or selling your car or property, and transfers from relatives.

Life insurance calculator

Please select why do you want to insure.

Why do you want to insure your life?

Under the question mark, you can find more detailed information about each need.

Total balance of other obligations
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Life insurance calculator


Recommended sums

Check whether the sums insured also meet your needs. We recommend insuring at least 3 years of income and all loan obligations.

When choosing the sum insured, we recommend keeping in mind that it covers at least your 3 years of income and other loan obligations. A larger sum insured will give you or your close ones more time to adapt to the new financial situation. This sum applies to both no work ability and death. The minimum sum insured is 20,000 €. With trauma cover, we will pay you a benefit corresponding to the severity of injury (e.g. in case of a bone fracture). You can find the list of insured injuries in the Trauma table in the terms and conditions. Pay note that illnesses are not considered traumas. Trauma sum insured is fixed and it is 20,000 €.20 000 € « Back

Overview of your life insurance


Sums insured

  • 0
  • Initial monthly payment


The sums insured and insurance premium are calculated based on your age, income, wish to protect your close ones and cover your loan obligations. These calculations are approximate and may differ from the offer made to you.

To conclude the contract, please proceed with filling out the health questionnaire.

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Swedbank Life Insurance SE processes your personal data by automatically, including profiling, to assess insurance risk, calculate premium and sum insured, and conclude the insurance contract. We process health and other data we receive from you and data we have in existing and previous insurance contracts and applications. We also process data shared by Swedbank AS, such as your identification data, contact details, relationship status data (e.g. customer segment data), your age, and financial data, if applicable. The insurance contract may be concluded in a fully automated manner. Please read more from our ‘Principles of Processing Client Data’ here.

Are you responsible for your family’s monthly utility bills or loan payments? Are you taking care of the expenses concerning your children’s education and hobbies?

Even if you’re partially responsible for your family’s expenses, you should consider insuring your life. Insurance will not bring back your life or health, but it will be of great financial help, especially if you don’t have enough savings.

The life insurance indemnity will be paid out:

  • to your family in the event of your death;
  • to yourself, if you will be declared with no work ability and it’s difficult or impossible for you to earn a living.

If you add trauma cover to your contract, you’ll receive an insurance benefit in case of a trauma, too, so you won’t have to hurry back to work after the accident, and you can focus on curing yourself.

  • Only in Swedbank you can conveniently sign the contract on the Internet Bank and won’t have to come to the branch.
  • Now you can also select trauma cover with a cost of € 6,25 per month. It serves as a financial benefit for you, if you get seriously injured in an accident (e.g. bone fractures). The trauma cover’s insurance amount is € 20,000.
  • Swedbank’s life insurance also pays you an insurance benefit for no work ability, helping you financially in case of long-lasting (at least a year) and serious health problems.
  • We also pay the insurance benefit, if you lose the ability for work or die due to an illness. According to our statistics, 80%* of deaths have been related to serious diseases.
  • You can choose the life insurance amount yourself (please see how to choose the life insurance amount).
  • For concluding the contract, we might ask you to go through an additional health examination. This is free of charge for you and will also give you a better overview on your health.

* Based on the statistics of 2019.

With trauma cover you will receive a benefit according to the severity of the injury (e.g. in case of a bone fracture).

  • Pay attention to the fact that illnesses are not considered traumas, so you will not be indemnified in case of e.g. flu, pneumonia or chronic pain (back or knee pain).

In case of no work ability the benefit is paid directly to you.

  • No work ability is a health disorder caused by an illness or an accident, resulting in limited ability to work and earn a living.
  • No work ability is determined by the Estonian Unemployment Insurance Fund for the period of at least one year. This is also the basis for paying out the life insurance benefit.
  • Being on sick leave is not considered no work ability.

In case of death the insurance amount will be paid to the person determined by you.

  • While an inheritance process may take several months, the insurance indemnity will be paid out immediately (within 30 days). Thus, it will be easier for your family to pay the daily expenses.

Insuring your life is simple, and you can easily sign an agreement on the Internet Bank.

  1. Use a calculator to find out the sum insured that suits you, and the corresponding monthly insurance premium.
  2. Click „Continue“ to apply.
  3. Life insurance death and no work ability covers will take effect immediately when the policy is issued. Trauma cover starts from the next day.
  4. If the life insurance agreement is tied to a Swedbank loan, all covers will take effect from the next working day after the policy is issued, but not before the loan or part of it has been paid out by the bank.
  5. We may ask you to go through an additional risk assessment and health examination. The health examination is free of charge for you, and it will also give you a better overview of your health.
  6. Once you’ve concluded the life insurance agreement, be sure tell your family about it, so they’ll know who to contact for help.
  7. You can change or terminate the agreement any time free of charge.

In Swedbank you can choose the life insurance amount based on your personal needs.

The minimum life insurance amount is €20,000.

We recommend you to insure your life for an amount that covers:

  • your income for at least three years
    This gives your family enough time to adjust to the new economic situation. If your income covers daily common bills, such as utilities, children´s hobby fees, food, etc., and it suddenly disappears, there will be a considerable deficit in the family budget;
  • your home loan balance
    This will ensure that your family can keep their home, and they won’t have to worry about the monthly payments;
  • other loan liabilities, if any (small-loan, leasing, etc.).


Effective from 10.09.2020
Insurance cover Monthly payment
Life and disability insurance Depends on your age, state of health, sum insured and other risk factors.
Trauma insurance 6.25 €
Contract conclusion Free of charge
Contract amendment Free of charge
Early termination of the contract Free of charge



Life insurance to cover loan

In case of an insurance claim, fill in the application via Internet Bank. Contact us by phone on 888 2111, if you have additional questions.

Good to know!

  • Insurer makes the decision and insurance indemnity is paid no later than within 30 calendar days from the date when all information and documents concerning the event is received.
  • In the case of death of the insured person, the sum insured will be paid to the person designated in the contract or inheritor.
  • In case of no work ability the indemnity insurance amount will be paid directly to you or Swedank, if your contract is related to cover morgage.
    No work ability caused by long-term serious illness or injury, determined by the Unemployment Insurance Fund and issued for at least 12 months. This does not refer to being on a sick leave.
  • In the event of a trauma the indemnity insurance amount will be paid directly to you.
    In the case of trauma protection you will be compensated for injuries (e.g. broken bones, tears) that have been caused by accidents (e.g. a fall, being hit, collision, attack). Trauma is not an illness (e.g. influenza, spondylosis), muscle pain caused by exercise or chronic pain (e.g. back pain, knee pain or shoulder pain).
Anti-Bullying service - designed to provide support for parents and their children in case of a bullying event that has happened in or outside school or on digital platforms.
The Anti-Bullying service is provided by the foundation Fonds Plecs with local partners and is available to costumers who have concluded the insurance contract types specified here for children living in the same household. Conflicts between children or adolescents can happen. However, certain types of abusive relationships between children are called bullying and can result in greater stress, mental health problems and worse future prospects. Sometimes bullying can even endanger child’s health or life. The service provides personalised support aimed at strengthening children’s conflict resolution skills and mental self-regulation in case of a bullying event. Swedbank is committed to support United Nations Sustainable Development Goals. Anti-Bullying service may contribute to the following of these goals – Good health and well-being, Quality education and Peace, Justice and Strong institutions.
  • The service is available for both families and children who are experiencing bullying and families whose child is the offender in cases where parents are willing to solve their children´s offensive behaviour.
  • Available for children aged 6-17.
  • The service does not affect your insurance contract in any way (insurance premiums, risk assessment, fees, etc.).
  • Find out more about what is the Anti-Bullying service here.
  • Parents get an assessment of whether the incident is bullying or a conflict.
  • Specific steps for parents to take immediately.
  • Individualised specialist support.
  • Practical tips if not bullying.
  • Quick response in critical cases.
  • Service expenses are covered.

Before applying for the service make sure that:

  • your insurance contract and insurance covers are valid when bullying has happened;
  • last incident has happened no more than 3 months ago.

Report here. There you have to:

  • register yourself and children;
  • provide case* details about bullying.

*Assessment of the case will be handled by Fonds Plecs.

Home is where the heart is and where you meet your loved ones. Make sure your home is covered with proper home insurance.

Interested in saving with tax benefits? The 3rd pillar pension funds are the only long-term saving option that the state supports by providing tax relief. Start saving and benefiting from tax return.

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


Insurance claims handling

In the case of an insured event, please notify us either personally or via a family member at the earliest opportunity. The services are provided by Swedbank P&C Insurance AS and Swedbank Life Insurance SE, Liivalaia 8, Tallinn 10118.

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