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Life insurance

Life insurance. Insurance out of love

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;
  • NEW! yourself in the event of accidental trauma (e.g. bone fractures).

Find suitable life insurance

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We can recommend life insurance if your age is between 18-69.

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€

Life insurance can be recommended if your income is at least 300€.

Your loan obligations
€

Mortgage in Swedbank? Log in for more detailed calculation.

Life sum insured


Sum insured
0€
Sum insured (life, traumas insurance)
€
Life sum insured
€
Mortgage null sum insured
€
Mortgage null sum insured
€
Mortgage null sum insured
€
No work ability sum insured
€
Trauma sum insured
€
Total first monthly payment
€
Discount
0%
Total monthly premium
0€
Continue

The insurance calculation is based on age, income, desire to protect your close ones and cover your loan obligations.

Swedbank Life Insurance SE processes your personal data by automated means, including profiling, to assess insurance risk, calculate premium and sum insured and conclude insurance contract. We process health and other data we receive from you and data we have in existing and previous insurance contracts and applications as well as data shared by Swedbank AS, such as age and loan data, if applicable. Contract conclusion may be fully automated. 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 € 4,90 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 € 15,000. Trauma cover costs you € 4,90 per month.

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

  • Your home loan balance
    This will ensure that your family can keep your home, and they won’t have to worry about the monthly payments.
  • Your home loan balance
    This will ensure that your family can keep your home, and they won’t have to worry about the monthly payments.
  • Other loan liabilities, if any (small-loan, leasing, etc.).

Payments

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 4.90 €
Service
Contract conclusion Free of charge
Contract amendment Free of charge
Early termination of the contract Free of charge

Conditions

Calculator

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).

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.

Contacts

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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Kind regards,
Swedbank