Guaranteed Interest Life Insurance
| Service | Fee |
|---|---|
| Insurance application processing | free of charge |
| Insurance contract conclusion 1 | 20 LVL |
| Statutory contribution into the Fund for the Protection of the Insured 2 | 1% of insurance premium |
| Insurance contract administration 3 | - 1.50% per annum of the total Reserve if it is less than 4,500 LVL (min. 1.00LVL a month) - 1.25% of the Reserve per annum if it is within limits from 4,500 to 44 999,99 LVL - 1 % of the Reserve per annum if it is 45,000 LVL and more |
| Direct Debit | free of charge |
| Insurance benefit transfer to account in Swedbank AS | free of charge |
| Additional services | Fee |
|---|---|
| Amendments to Insurance Contract 4 | free of charge |
| Partial payout of Reserve before end date of the Insurance Contract 5 | 1% of Reserve paid out (min. 10 LVL) |
| Early termination of Insurance Contract 6 | 1 % of Reserve (min. 15 LVL) |
| Minimum sums | |
|---|---|
| Minimum premium if direct debit is active | 15 Ls/month |
| Minimum first premium when Insurance Premium payments are selected to be made independently | 400 Ls |
| Minimum Sum Insured, if in the insurance contract is determined the sum insured | 2 000 Ls |
| Minimum amount in case of partial payout of Reserve | 40 LVL |
| Minimum Reserve after partial payout of Reserve | 400 LVL |
| Transaction dates 7 | |
|---|---|
| Insurance Premium Linkage to Reserve | Insurance premium payment day + 1 business day 8 |
| Insurance Contract administration fee and risk payments are deducted from Reserve | Each calendar month the first date |
| Change of Reserve currency | Day of signing amendments to Insurance Contract + 1 business day |
| Calculation of Reserve in case of partial payout of Reserve | Day of submitting application for partial payout of Reserve + 1 business day |
| Calculation of Reserve if case of early termination of Insurance Contract | Day of submitting application for early termination of Insurance Contract + 1 business day |
| Calculation of Reserve in case of death of the Insured | Day of notice of the death of the Insured + 1 business day |
| Calculation of Reserve upon expiry of Insurance Contract | Insurance contract expiration date - 1 business day |
Effective from 29.11.2011.
1 The fee will be deducted from the first Insurance Premiums before being added to the Reserve
2 The contribution will be deducted from every Insurance Premium before being added to the Reserve
3 The fee will be deducted from the Reserve
4 Any changes to the Sum Insured will come into effect starting from the first day of the next calendar month after signing amendments to the Insurance Contract, except when the Insurance Contract is linked to loan in AS Swedbank. If the Sum Insured is decreasing and linked to loan in AS Swedbank, then in case of increasing loan balance, the insurer will accept increases up to the limit of Sum Insured level automatically within 2 (two) years as from the last change of the limit of Sum Insured. In other cases amendments to Insurance Contract are necessary
5 The fee will be deducted from the Reserve. A partial payout of the Reserve before the end date of the Insurance Contract is not possible until and unless five years have lapsed as from the start date of the Insurance Contract
6 The fee will be deducted from the Reserve
7 Transaction date the date on which the insurer uses to calculate the savings reserve in connection with the transactions accordance with the contract conditions. The Savings reserve/the insurance indemnity is paid out in insurance terms and conditions specified time periode
8 Business days - any day except for Saturdays, Sundays and public holidays in the Republic of Estonia
 
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