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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

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 (in Lithuanian)

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.

Information in this document about the unit-linked life insurance service offered by SEB Life and Pension Baltic SE Lithuanian branch is submitted for marketing purposes. It may not be interpreted as a personal recommendation or an instruction to invest and may not be deemed to be the basis or a part of any deal to be executed later. Irrespective of the fact that the content of this document is based on the sources that are deemed to be reliable, SEB bank and SEB Life and Pension Baltic SE Lithuanian branch will not assume responsibility for any inaccuracies or losses which may result from the actions taken on the basis of such information. The specific taxation depends on the individual circumstances related with you and may be subject to changes in future.

The investment return is related to risks, its value may increase or decrease and previous positive return does not guarantee the same result in future. In certain cases, the losses may exceed your initial investment. In case of investment in the financial instruments denominated in a foreign currency, fluctuations in the exchange rates may have impact on your investment return.

You will be responsible for the investment decisions made by you, therefore before making thereof you should familiarise with detailed information and strategy of a specific investment plan and assess yourself or with the assistance of consultants whether inflation or exchange rate fluctuations or changes in the market interest rate or any other events which do not depend on the intentions and actions of SEB bank or SEB Life and Pension Baltic SE Lithuanian branch may result in decrease of your investment value.

Before making any investment decision, we recommend you to familiarise with descriptions of the investment plan and prospectuses of the funds you invest in under such plan, to obtain more detailed information about the characteristics of such financial instruments, benefit and risk factors. You may receive such information by calling at +370 5 268 2800 or by visiting any unit of SEB bank.

Clients, who do not meet the criteria for entering into the insurance agreements specified in the standard insurance rules, may sign the insurance agreement on the individual terms.

Please note that the services described here are not intended for investors within the jurisdiction other than that of SEB bank units providing these services and that investment opportunities, authorisation to invest and investing in locations of certain jurisdictions, including the United States of America, Canada, Japan and Australia, may be unlawful. SEB bank may not advise on investment issues, promote investments, solicit or offer investments where any such may be unlawful. If you live or read information on this website at a location within the jurisdiction other than the one of the SEB bank unit which provides this information, you are responsible for compliance with the laws and other legal acts which may be applicable to you. If you need more information, please contact your SEB bank account manager or any SEB bank unit.