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Unit-linked Life Insurance “For Child Future”


About the insurance service

We may offer various opportunities for taking care of your child’s financial future. One of such opportunities is accumulation of funds after signature of the unit-linked life insurance agreement "For Child Future".

The amount of the insurance premium depends on the goals of savings and your expectations. You may start accumulating the minimum possible periodic premium –EUR 20 per month. If you have free money later, you will be able to pay a higher premium and increase the amount to be accumulated, and if some financial difficulties occur, you may suspend payment of insurance premiums.

Before signing the unit-linked life insurance agreement "For Child Future", you will be required to familiarise with the insurance rules, which provide a detailed description of this service and risks:

Life Insurance Rules No. 017 (PDF, LT)

Your savings after deduction of the premium fee will be invested according to the selected investment plan. The agreement administration fee will be deducted from your savings under the agreement.

More information about administration fees: Price List 017 (PDF, LT)

Some people are willing to take risk, others are much more cautious. We propose a number of investment plans with different levels of risk, therefore clients willing to take risk and aiming for higher return and also much more cautious clients agreeing with lower return and aiming to prevent drop in value of their investment will be able to select an acceptable investment plan.

You may register for a free of charge consultation and our Client Executive will provide advice on the investment risk acceptable to you and will assist you in selecting a suitable investment plan.  You will have an opportunity to change the select investment plan on SEB’s Internet Bank free of charge within the entire effective period of the agreement, if necessary.

You will be eligible for a personal income tax relief and a refund of up to 15% of the total insurance premiums paid within a year. At the end of the period, the insurance benefit will be tax-free if your agreement has been effective for 10 years or for a longer period and your child is under 26 years of age. In other cases, the accumulated funds will be subject to 15 per cent income tax and will be paid out after expiry of the agreement or upon the agreement termination.

Personal income tax relief will be applied to the total amount of premiums not exceeding 25 per cent of taxable annual income. The tax relief will be applied, if at maturity of the insurance period the beneficiary of funds is:

  • premium payer
  • his/her spouse
  • child under 18 years of age

Information is submitted and conclusions are made in accordance with the acts of law of the Republic of Lithuania regulating taxation of the insurance agreements and based on the related explanations and comments issued by the government institutions. Attention should be paid to the fact that the regulatory framework and related comments may be amended and such changes may determine taxation under already signed insurance agreements.

Tax refund calculator may be used to calculate the amount to tax refund.