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Safe Loan Insurance

Safe Loan Insurance

Now, if you obtain a loan, you may feel secure

  • In case of any illness, injury or job loss, you will be paid periodic benefits equal to the credit instalment or selected portion hereof paid by you
  • In case of any severe accident, your immediate family will be protected against all outstanding financial obligations or any portion thereof
  • It will help you and your family to meet all financial obligations and to retain rights to your dwelling or other assets

If you obtain a mortgage or consumer loan from SEB Bank, you will be offered our insurance product "Safe Loan" that provides life insurance, total and permanent disability insurance, temporary disability and involuntary unemployment insurance. Thus if any unexpected event occurs, you and your family will be protected.

Insurance cover for those who select insurance product "Safe Loan"

Life insurance

In case of the insured person’s death as a result of any  illness or accident, the insurance company pays the insurance benefit and thus the entire loan balance or the share of the loan set under an agreement is covered. Instead of staying with a loan, your immediate family would stay with property.

Insurance against total or permanent disability

In case of severe disability, where the insured person may no longer work as a result of illness or injury (e.g., as a result of blindness, paralysis, coma, etc.), the insurance company pays insurance benefit that covers the entire loan balance or the share of the loan set under an agreement.

Insurance against temporary disability

In case of temporary incapacity as a result of an accident or illness, over a certain period of time the insurance company pays the insured person monthly insurance benefits that are equal to or make any selected share of your loan instalment paid. Insurance benefits would ease your financial burden, and you would be sure that you are able to meet all or part of your financial obligations.

The insurance coverage is offered by UAB "SEB gyvybės draudimas" according to the below Insurance Rules.

If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 09/12/2015) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 11/01/2017) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 08/08/2013) (PDF, 118 KB, in Lithuanian)

Besides the above-listed types of insurance coverage, you may choose an additional protection

Insurance against involuntary unemployment

In case of a job loss, e.g. in case of the employer’s bankruptcy, loss of operation license or upon mutual agreement between the parties at the employer’s proposal, for a certain period of time the insurance company pays the insured person monthly insurance benefits equal to your loan instalment amount paid or make its any selected share. You would be sure that for some time your loan instalments are compensated and you would have time to find another job of interest to you.

The insurance coverage is offered by ADB “Gjensidige” according to the below Insurance Rules.

If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

ADB “Gjensidige”: Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 11/01/2017) (PDF, 100 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

ADB “Gjensidige”: Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 09/12/2015) (PDF, 100 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

"PZU Lietuva": Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 08/08/2013) (PDF, 99 KB, in Lithuanian)

Safe Loan insurance agreement is executed for a one-year period and may be automatically extended.

More detailed information about the insurance services, risk factors, applicable requirements and services is available on a 24 hour a day basis at 1528 or you may contact any selected branch of SEB Bank.


This is promotional information about services offered by UAB "SEB gyvybės draudimas" and ADB “Gjensidige”, and it cannot constitute any basis or part of any subsequent transaction.

Before concluding life insurance Safe Loan agreement, please familiarise with insurance rules and terms.

If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 09/12/2015) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 11/01/2017) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 08/08/2013) (PDF, 118 KB, in Lithuanian)


If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

ADB “Gjensidige”: Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 11/01/2017) (PDF, 100 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

ADB “Gjensidige”: Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 09/12/2015) (PDF, 100 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

"PZU Lietuva": Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 08/08/2013) (PDF, 99 KB, in Lithuanian)

If you signed the insurance agreement according to the Safe Loan Programme, a wording of the Insurance Rules applicable to you is available on the Internet Bank of AB SEB bankas.

Safe Loan agreement terms tailor-made personally for you in line with your financial obligations under your loan agreement:

  • the amount of life insurance or insurance against total or permanent disability is equal to the amount of your loan balance (debts excluded). Each month, the insurance amount decreases alongside with a decrease in the loan balance;
  • insurance benefit in case of temporary disability or involuntary unemployment is equal to your loan repayment instalment (principal plus interest) or its share selected by you;
  • the amount of insurance benefit depends on the loan balance, the instalment amount and risk depending on the age of the insured person;
  • the e-bill submission for customers and the insurance premium debiting date, if the automated e-bill payment is selected: the e-bills for the program Safe Loan Insurance‘s customers will be submitted on the next day after the credit disbursement date. If such day falls on a weekend or a non-business day (public holiday), the e-bill will submitted on the nearest business day. If the customer has selected the automated e-bill payment, the e-bills will be also paid up on weekends or non-business days (public holidays) according to the automated service agreement;
  • in case of any change in the loan agreement terms and conditions, relevant adjustments are made to the terms and conditions of the insurance agreement;
  • Safe Loan insurance may be linked to a single loan agreement and may serve as a help for covering the obligations under such loan agreement. In case several loan agreements have been signed, several relevant insurance agreements are executed, applying the terms and conditions separately by each loan agreement. If there are two borrowers, the insurance agreement may indicate, respectively, two (however, no more than two) insured persons (SEB Bank’s mortgage loan co-borrowers).

Safe Loan insurance agreements may be concluded at the same time as a SEB mortgage loan or a consumer loan agreement, or later after a loan agreement has already been executed. The existing SEB Bank’s mortgage loan holders may also conclude an insurance agreement at any sub-branch of the bank.

Customers have the right to terminate their Safe Loan insurance agreements or refuse their automatic extension.

Who may enter into the above-specified insurance agreements?

  • Any person who obtained a mortgage loan from SEB Bank (if a period shorter than 6 months remains until the loan repayment date)
  • Any new client of SEB Bank who signed a mortgage or consumer loan agreement

One or two private individuals 18 – 55 years of age, who are permanent residents of the Republic of Lithuania, may be provided the insurance coverage under one insurance agreement.

More detailed information about the insurance services, risk factors, applicable requirements and services is available on a 24 hour a day basis at 1528 or you may contact any selected branch of SEB Bank.


This is promotional information about services offered by UAB "SEB gyvybės draudimas" and ADB “Gjensidige”, and it cannot constitute any basis or part of any subsequent transaction.

In what case the insurance benefit will be paid?

Insurance benefit will be paid in any insured event. The below specified events, taking into consideration the selected type of insurance product "Safe Loan" and the insurance agreement terms, may be deemed the insured events.

Death of the insured

Terms of the Life Insurance Agreement are established in the below specified Insurance Rules.

If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 09/12/2015) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 11/01/2017) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 08/08/2013) (PDF, 118 KB, in Lithuanian)


Documents to be submitted by immediate family in the insured event

Notice of insured person’s death, total and permanent disability (PDF, 32 KB, in Lithuanian) (to be filled out at bank)

Also:

  • passport copy or any other personal identity document copy
  • death certificate or its notarised copy
  • a document evidencing the cause of death, i.e. medical death certificate, police, forensic expert investigation description and findings or an extract from medical records, in which  the cause of death and precise diagnosis is indicated
  • other documents related to the insured event, i.e. the insured person’s medical history and copies of medical analysis records. In case of violent death (traffic accident, accident), a statement issued by a law enforcement institution about a relevant traffic accident or an opinion issued by a forensic expert or a forensic committee regarding causes or circumstances of death

Total and permanent disability of the insured

Terms of the total and permanent disability insurance are established in the below specified Insurance Rules.

If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 09/12/2015) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 11/01/2017) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 08/08/2013) (PDF, 118 KB, in Lithuanian)


Documents to be submitted by the insured

Notice of insured person’s death, total and permanent disability (PDF, 32 KB, in Lithuanian) (to be filled out at bank)

Also:

  • passport copy or any other personal identity document copy
  • doctor’s certificate evidencing relevant health disorder as a result of illness or physical injury
  • the insured person’s medical history, extracts from medical records and copies of analyses carried out in connection with any inflicted injury, self-inflicted injury or illness
  • extract from an in-patient medical institution, if over the period, which is covered by the request to be paid an insurance benefit, the insured person underwent treatment in hospital
  • other documents related to the insured event

Temporary disability of the insured

Terms of the temporary disability insurance are established in the below specified Insurance Rules.

If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 09/12/2015) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 11/01/2017) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 08/08/2013) (PDF, 118 KB, in Lithuanian)


Documents to be submitted by the insured

Notice of temporary disability and Application for temporary disability benefit (PDF, 47 KB, in Lithuanian)

Also:

  • passport copy or any other personal identity document copy
  • the insured person’s medical history and original copies of analyses carried out in connection with any inflicted injury, self-inflicted injury or illness, or copies of such documents approved according to the procedure established by legal acts
  • if illness benefits are allocated and paid by regional units of the State Social Security Fund Board (hereinafter the ‘SSSFB’), – a summary report available at the SSSFB’s e-service system for private individuals on e-sick-leaves issued to the person and notifications regarding certificate issuance 
  • if illness benefits are allocated and paid by any entity other than regional units of the SSSFB,– medical certificate of absence from work, labour exchange or educational institution (form No. 094/a)
  • if the insured person is a self-employed person, is unemployed  or employed on interim basis outside Lithuania, – an extract from medical records of the person’s health care institution that provides in-patient health care services;
  • other documents related to the insured event

Involuntary unemployment of the insured

Terms of the involuntary unemployment are established in the below specified special terms.

If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

ADB “Gjensidige”: Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 11/01/2017) (PDF, 100 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

ADB “Gjensidige”: Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 09/12/2015) (PDF, 100 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

"PZU Lietuva": Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 08/08/2013) (PDF, 99 KB, in Lithuanian)


Documents to be submitted by the insured

Notice of insured person’s involuntary unemployment (PDF, 42 KB, in Lithuanian) (to be filled out at bank)

Also:

  • passport copy or any other personal identity document copy, bearing the original copy of the document
  • employment contract copy (the document must indicate the expiry date of the employment contract and basis for its termination, e.g. employment contract, employer’s order, certificate issued by Sodra or by the employer, etc.) 
  • official written proposal registered by the company and signed by the administration regarding termination of the employment contract, if the contract has been terminated upon the parties’ mutual arrangement
  • job seeker’s memo, evidencing that the insured person has registered with the labour exchange as an unemployed


Insurance benefits payment terms and procedure

In cases of death or total and permanent disability

  • One-off insurance benefits are paid.
  • The largest one-off insurance benefit is EUR 150,000.
  • Insurance benefit is paid to the loan issuer’s – SEB Bank’s (appointed as an irrevocable beneficiary) – account, covering in full or in part the loan instalment amount payable by the insured person to the bank plus interest indicated in the loan schedule.

In cases of temporary disability or involuntary unemployment

  • Insurance benefits are paid monthly for the previous period (however, no longer than for a 6-month period in case of one or several related insured events, no longer than for a 12-month period in case of unrelated insured events within five recent years).
  • Maximum monthly insurance benefit – EUR 1,500.
  • Insurance benefits are paid to the main settlement account from which amounts of the insurance premiums are paid based on a relevant direct debit consent.

Cases when the insured person is not eligible to receive insurance benefit

  • If an event is considered to be other than an insured event (for instance, intentional actions, illegal or criminal activities, mass riots and armed conflicts, where one becomes unemployed on one’s own initiative, etc.).

    Types of non-inured events and description thereof are available in the below specified insurance documents.

If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 09/12/2015) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 11/01/2017) (PDF, 110 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

Life and Disability Insurance Rules No. 20 (the wording as of 08/08/2013) (PDF, 118 KB, in Lithuanian)


If the insurance agreement was signed after 11 January 2017, the wording as of 11 January 2017 will be valid

ADB “Gjensidige”: Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 11/01/2017) (PDF, 100 KB, in Lithuanian)

If the insurance agreement was signed after 9 December 2015, the wording as of 9 December 2015 will be valid

ADB “Gjensidige”: Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 09/12/2015) (PDF, 100 KB, in Lithuanian)

If the insurance agreement was signed until 8 December 2015 (inclusive), the wording as of 8 August 2013 will be valid

"PZU Lietuva": Special terms of insurance against financial loss resulting from involuntary unemployment (the wording as of 08/08/2013) (PDF, 99 KB, in Lithuanian)

  • If an event occurs within the initial waiting period, i.e. 30 days since the day of execution of an insurance agreement in case of temporary disability, and 60 days in case of involuntary unemployment. Also, in both cases within a 30-day period since the first day of the insured event
  • In case of temporary and involuntary unemployment – for the first 30 days since the day of occurrence of a relevant insured event

In case of occurrence of an insured event, it is necessary to inform insurance companies by turning to your client executive with SEB Bank. An application filled out as well as other required documents must be delivered to the nearest unit of SEB Bank no later than within a 30 calendar days’ period since the day of occurrence of a relevant insured event.

More detailed information about the insurance services, risk factors, applicable requirements and services is available on a 24 hour a day basis at 1528 or you may contact any selected branch of SEB Bank.


This is promotional information about services offered by UAB "SEB gyvybės draudimas" and ADB “Gjensidige”, and it cannot constitute any basis or part of any subsequent transaction.

Need advice?

Register for a free consultation

Want to enter into an insurance contract?

Visit a SEB bank unit of your choice

Want to revise contractual terms?

Visit a SEB bank unit of your choice

More detailed information about the insurance services, risk factors, applicable requirements and services is available on a 24 hour a day basis at 1528 or you may contact any selected branch of SEB Bank.


This is promotional information about services offered by UAB "SEB gyvybės draudimas" and ADB “Gjensidige”, and it cannot constitute any basis or part of any subsequent transaction.

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