Life insurance

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Life insurance made simple

Life moves fast. Life insurance helps you stay in control, wherever life takes you.

Replacement of lost income
Loans repayment
Traumas covered
Sum insured Booster for value protection

Calculate your needs

Apply online

24/7 worldwide coverage

Life insurance calculator

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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.

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Life insurance calculator

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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.

Loss of income We will help to ensure financial stability for you and your close ones by paying benefit in the event of death of no work ability. In this way, we will reduce the risk of getting into a difficult financial situation. The life insurance benefit will be paid:

to your close ones in the event of your death;
to you if you have lost your ability to work for at least 12 months as a result of serious and long-term health damage. No work ability is determined by the Estonian Unemployment Insurance Fund.

Unable to pay back Swedbank mortgage We will help to repay your Swedbank mortgage in the event of no work ability or death. In this case, you or your close ones will still have a home and there is no need to think about loan payments. If your Swedbank mortgage balance is less than 20,000 €, please add this amount to the life sum insured in next step.

Trauma If you add trauma cover to your contract for 6.25 € per month, we will pay a benefit after a trauma.

Unable to meet other loan obligations We will add the balances of your other obligations to the sum of your life insurance, so that in case of no work ability or death neither you nor your close ones would have any difficulties repaying these obligations. For example, a mortgage in another bank, hire-purchase, leasing or small loan.

Total balance of other obligations

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Total balance of other obligations should be entered.

Life insurance calculator

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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 €.

This feature is available with sum insured up to €200 000.

This can help to protect the value of your sum insured against the inflation by automatically increasing it annually by 3%. You can switch the automatic increase off if you wish, in which case sum insured will not increase on your next birthday.

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 €

Initial monthly payment

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Your Life insurance overview

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Life insurance

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Sum insured booster
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Life insurance to cover loan

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No work ability sum insured for mortgage null
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Initial monthly payment

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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.

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' .

Swedbank life insurance provides

In the event of death money is paid to your chosen person(s) or Swedbank if you have life insurance to cover loan.

Cover is valid for aged 18–70.

Covers loss of working capacity caused by long-term illness or accident.

If you lose your ability to work for at least 12 months due to serious and long-term health damage, the life insurance benefit will be paid to you — or to Swedbank, if you have a life insurance to cover loan contract.

For 6.25 €/month you'll receive a benefit in case of injury from accidents like bone fractures.

With trauma cover you will receive a benefit according to the severity of the injury.

Your Swedbank mortgage will be repaid fully or partially in the event of your death or no work ability, payout goes directly to Swedbank for automatic repayment and easing the financial burden on your loved ones.

Fast payout in case all necessary information is given, ensuring quick financial support when it’s needed most. Average payout is within a one week.

Easily manage your insurance online: update your coverage, change beneficiaries, change payment date in just a few clicks.

Helps support your family and children (ages 6–17) in cases of bullying — online, in or outside school, or elsewhere.

Offered in partnership with the Fonds Plecs foundation.

Your insurance sum can be better protected from inflation.

Simple: Sum Insured Booster increases your life insurance sum every year by 3% from the previous year sum insured.
Peace of mind: You do not need to remember and adjust manually your cover to protect against inflation.

Turn on Sum Insured Booster in calculator or modify your existing contract.

Swedbank life insurance provides

In the event of death money is paid to your chosen person(s) or Swedbank if you have life insurance to cover loan.

Cover is valid for aged 18–70.

Covers loss of working capacity caused by long-term illness or accident.

For 6.25 €/month you'll receive a benefit in case of injury from accidents like bone fractures.

With trauma cover you will receive a benefit according to the severity of the injury.

Fast payout in case all necessary information is given, ensuring quick financial support when it’s needed most. Average payout is within a one week.

Easily manage your insurance online: update your coverage, change beneficiaries, change payment date in just a few clicks.

Helps support your family and children (ages 6–17) in cases of bullying — online, in or outside school, or elsewhere.

Offered in partnership with the Fonds Plecs foundation.

Your insurance sum can be better protected from inflation.

Simple: Sum Insured Booster increases your life insurance sum every year by 3% from the previous year sum insured.
Peace of mind: You do not need to remember and adjust manually your cover to protect against inflation.

Turn on Sum Insured Booster in calculator or modify your existing contract.

You can easily sign your life insurance contract in the internet bank.

Use the life insurance calculator to choose your coverage and see approximate monthly payment.

Click “Continue” to fill in your details and follow the steps provided.

If a health check is needed for contract conclusion, it’s done free of charge by our medical partner.

Let your loved ones know about your life insurance, so they’re aware of what to do if something happens.

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).

over 4 550 000 €

Total amount of life insurance payouts.

81%

Proportion of illnesses in cases of death and no work ability.

64%

Trauma event within the first three years of insurance.

According to data from Swedbank Life Insurance SE data for 2024.

More about life insurance

Life insurance provides broader protection.

It covers death and no work ability caused by illness or an accident. You can also add trauma cover for serious injuries.

Accident insurance is more limited.

It only covers situations caused by accidents, like accidental death, permanent disability, or injury-related medical costs. Accident insurance does not cover death and disability due to illnesses.

Most deaths and no work ability cases are caused by illness, so having insurance coverage that includes in addition to accidents also illness really matters. 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.

Financial support for you and your family

Ask yourself whether your family would be able to cope financially if you were unable to work due to a serious illness or if you were to die suddenly due to an illness or accident. Would your loved ones be able to pay your mortgage and other daily expenses in that case?

You can think about your family's income and liabilities. What would happen if you would subtract your income? If the budget is later very tight or completely in the red, it is useful to think about life insurance.

Financial support for you

Same logic applies if you live alone. If you don't want to risk your responsibilities falling on your children, parents or siblings, consider a life insurance policy that covers your needs.

Life insurance covers a lot, but there are some important exceptions to keep in mind. The complete list of exclusions is found in the Insurance Terms and Conditions.

Here are main examples what´s not covered:

Accidents involving alcohol or drugs

In case of death and no work ability: driving a vehicle under the influence of alcohol or other intoxicating substances if the concentration in the body exceeded the legal limits in force in the country where the accident has taken place.

In case of trauma: excessive consumption of alcohol or consumption of narcotic drugs or other intoxicating substances

Risky activities

Flying as a pilot or crew member (except scheduled passenger-carrying flight), or incidents during military operations (except participation in military training) are not covered.

Suicide

Not covered if it happens within the first 2 years of the contract.

Self-harm

No work ability and traumas caused by self-inflicted harm aren't covered.

Also, life insurance has no cash value, and you won't receive any payout if the contract ends.

The right life insurance amount depends on your personal situation, but there are some helpful guidelines.

Swedbank recommends choosing a sum that covers:

At least 3 years of your net income.
All your loan obligations balance (like mortgage, leasing, or consumer credit).

Think about:

Your family's monthly expenses (utilities, food, childcare).
Loan payments
Your children's needs and future education.
Your financial well-being in case of long-term severe disability.
Add Sum Insured Booster to your policy and give your protection the opportunity to grow in value over time, without the need to apply for insurance amount increase.

If you're only insuring your life because you have a mortgage, the recommended amount should at least match your loan balance.

Use our life insurance calculator for new contract conclusion to find an amount that could work for you, it's quick and adjusts to your income and loans.

Minimum life sum insured starts from 20 000 €.

The right amount gives your loved one’s time to adjust financially if something happens to you.

To conclude a life insurance contract, you must:

Be Swedbank customer
Be a resident of Estonia
Be between 18 and 68 years old
Have a monthly income of at least 500 €
Complete an insurance questionnaire

Depending on your answers, we may ask for extra medical info or to do a free health check provided by our partners.

Life and no work ability cover begins on the day you sign the contract.
Trauma cover starts the next day after the contract begins.
If your insurance is tied to a loan, all cover starts on the next working day after the contract is signed, but not before the loan is paid out.

Yes, your life insurance is valid worldwide, 24/7.

You're fully covered whether you're traveling, living abroad temporarily, or on an extended stay outside Estonia.

Just make sure:

You continue making your monthly payments
Your personal details (like address) are up to date

Wherever life takes you, your coverage stays with you.

Anti-bullying service is a free service for families affected by bullying in school, outside of school, or online between children (except with family members, relatives). It's available to customers with eligible Swedbank life insurance contracts, for children aged 6 to 17 living in the same household.

Find out more from the terms and conditions of the Anti-Bullying service.

What you get:

Expert assessment to understand if it's bullying or a conflict
Step-by-step guidance for parents
Personalized help from specialists
Fast support in serious cases
Service is free of charge

Who it's for:

Families whose child is being bullied
Families whose child is bullying others (and want to help them change)

How to use it:

Make sure your life insurance contract is active
The last bullying incident must have happened within the last 3 months
The service is provided by Fonds Plecs. Go to mobstop.ee to register and submit your case

You'll get the help you need quickly, with no impact on your insurance premiums or contract.

No, this life insurance doesn't include savings or investments, so your payments are not refunded when the contract ends.

Why not?

Life insurance provides protection during the insurance cover validity. The payments you make go toward keeping you covered during the contract period, not into savings.

The only exceptions:

If you cancel during the withdrawal period (30 days after signing in digital channel), you'll get a full refund.
If you cancel early and have prepaid future payments, those unused amounts will be refunded.

If your contract ends because you've repaid your loan earlier, there's no refund for the time you were already covered.

War and military conflicts are not covered

Life insurance doesn’t cover events caused by war, military actions, political armed conflict, or nuclear incidents.

Each case is reviewed individually to see if the event was directly linked to such exclusion events.

Illness-related events are covered

If death or no work ability is caused by an illness, even during a pandemic, it's still covered, unless it falls under a specific exclusion.

If Sum Insured Booster is selected in the contract, the life sum insured will increase every year on your birthday by 3%.

This feature is selectable with sum insured up to €200 000 (over all life insurance contracts, except insurance contract related to mortgage).

Sum Insured Booster is valid for one year and shall be automatically prolonged on the same terms and conditions for the next year unless we or you terminate it. You can easily remove Sum Insured Booster from the contract by going to the contract change’s view.

Example of changes with Sum insured booster: 30 years old, sum insured €50 000

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No, trauma cover only includes injuries from accidents, not illnesses like flu, pneumonia, or chronic pain.

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Contacts

888 1513
Write bank message

Insurance claims handling

888 2111 (24h)
Claim filing

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 34, Tallinn 15040.

Life insurance

Life insurance made simple

Life insurance calculator

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