Life insurance

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

Even if you are partially responsible for the family’s expenses, you should consider insuring your life. Insurance will be of great financial help in cases where you will no longer be able to help your family, especially if you don’t have savings.

The life insurance benefit will be paid out:

• To your family in the event of your death
• To you or other beneficiary indicated in the contract in case of disability

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.

In Swedbank you can conveniently sign the contract on the Internet Bank and do not have to come to the branch.

• You can also select the trauma cover costing 4,90 EUR per month, which serves as a financial support for you if you become seriously injured as a result of an accident (e.g. bone fractures).
• We also pay out the insurance benefit for disability or loss of life due to illness. According to our statistics for people at the working age: 85% of deaths resulted from serious diseases*. Other cases were mostly caused by various accidents.
• You can choose the sum insured for life insurance yourself taking into account the amount of income and liabilities.

* Based on statistics of SPKC 2021 for residents aged 20-59.

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

• It’s worth pointing out that illness is not considered to be a trauma, which means you will not be indemnified in case of e.g. flu, pneumonia or chronic pain (back or knee pain).

In case of the disability cover the benefit is paid out directly to you or other beneficiary indicated in the contract.

• Disability is a health disorder caused by illness or accident, resulting in limited capacity for work and earning a living.

In case of losing life the sum insured will be paid out to the person designated by you.

• The inheritance process may be long, so we recommend selecting beneficiaries to whom life insurance benefit would be paid. This will help your family to cope with daily expenses when you are unable to support them.

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

1. Start with the calculator and calculate the sum insured that suits you.
2. Click „Continue“ to apply.
3. We may ask you for an additional risk assessment and a health examination.
4. If prophylactic medical examination arranged by us is required, it will be free of charge for you and you can also get an overview of your health condition.
5. The life insurance covers for the event of death and disability will take effect when the policy is issued. The trauma cover enters into force on the next day.
6. If the life insurance is tied to a Swedbank loan, all covers and services will take effect on the next working day after the policy is issued, but not earlier than on the day when the loan, or any part of it, is disbursed.
7. Tell your family about your life insurance contract.

In Swedbank you can choose the amount of life insurance as you need. Upon choosing the amount, it is important to make sure that it meets the needs of you and your family.

The minimum sum insured for life insurance is 15 000 EUR.

The trauma cover insured amount is 20 000 EUR.

The trauma cover will cost you 4,90 EUR per month.

Our recommendation is to insure your life at a sum that would cover:

• The mortgage loan to ensure that your family could keep your home
• Income of at least two years in a manner that it would also cover daily expenses (utilities, bills for children’s after-school activities, etc.)
• Other loan commitments, if any (e.g. consumer credit, leasing)

• 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 customer is not charged anything extra for the service.
• Find out more about what is the Anti-bullying Service here.

• Parents get an assessment of whether the incident is bullying or a conflict.
• Practical recommendations if not bullying.
• Specific steps for parents to take immediately.
• Individualised specialist support.
• 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".