Switch to mobile version. Top

Life insurance with savings

Life insurance with savings

Savings - the basis for your financial independence

  • Your life is insured, while making savings
  • You have different investment opportunities
  • It is possible to receive income tax incentives on contributions in savings

Saving is a longstanding habit that gives a sense of security and stability. Today monetary savings provide greater financial independence and the ability to fulfil a long lasting or new idea. Successful savings are based on regularity, discipline and choice of the most appropriate solution.

Build your savings with Life insurance

  • We will be happy to help you to choose the most suitable solution and create a plan for your savings.

  • Our specialists will manage your savings with the goal to increase them by long-term investment in financial markets, according to the chosen plan.

  • You have the opportunity to receive tax relief in the amount of 20% of contributions you make to the savings.*

  •  

*Please note that the provided tax information is based on currently applicable legislation, however, tax legislation can change over time. The tax results may be different on a case-by-case basis.

The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.

Life insurance

Your life will be insured along with building up your savings, providing financial protection for your immediate family. In the agreement you may specify one or more beneficiaries and their share of the entire indemnity in the event of death. If the worst happens, your immediate family will receive indemnity, which will provide financial support in a difficult situation and will help to cover urgent daily expenses. In addition, there is no need for inheritance formalities, and insurance indemnity will be paid promptly, as soon as the Indemnity Application is received.

Personal accident insurance

You also have the option of choosing accident insurance, which will be financial aid in the event of an accident resulting in injury or disability. Insurance will be valid 24 hours every day, regardless of your location – at work, at home, in your spare time.

What should be done when an insurance event occurs?

The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.

  • SAVINGS

    Your future capital

    • You will pay into your savings an amount of your choice on regular basis.
    • You can choose the frequency of your contributions – monthly, quarterly, half-yearly or annually.
    • Contributions in savings can also be paid by relatives and friends (you will not be entitled to the tax incentives for the contributions made by other persons).
  • PROFITABILITY

    Savings into investment funds

  • TAX BENEFITS

    20 % of the contributions made

    • If the contract is concluded for a period of at least 10 years, you can receive personal income tax incentives in amount of 20 % of the contributions, not exceeding 10 % of your annual gross salary or 4000 EUR per year.
    • Your can calculate your tax incentive options in the Tax calculator.
    • Read more about tax benefits

The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.

At the end of the contract period

When concluding a contract, you determine its term. At the end of the term you will submit your Indemnity Application (PDF) (through internet bank or in the branch) and get the actual savings.

Early termination of the contract

If any unexpected situation occurs, and you suddenly need the accumulated money before the term, you can also terminate the contract before its expiry, and receive the redemption amount that is calculated according to the terms of the agreement.

If you terminate the agreement within the first 10 years (or the first 5 years if you concluded the agreement before 31.12.2017.) and you have received individual income tax incentives, you will need to pay income tax for the total amount of premiums contributed to the agreement and from which tax incentives have been received.

In case of death of the insured

If the worst happens and the insured person loses his life, the insurance amount and the savings is paid on the basis of the beneficiary's application into the account specified by them. In this case, the succession process for these funds doesn’t have to be registered, and the insurance indemnity shall be paid promptly, as soon as the required documents are received and evaluated.

Important! In accordance with the law "On personal income tax", income from savings with life insurance of a natural person is subject to tax. The tax to be paid is 20 % of the life insurance contract income, determined as the difference between the payable savings and all contributions paid during the agreement (instead of the amount of all savings). The tax is to be paid on the date of earning the income, namely, at the moment of payment of savings or redemption cost and the payer of the specific income is responsible for collection of the tax, i.e. SEB Life and Pension Baltic SE. So you will not need to take any additional action on declaration and payment of the tax.

The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.

Signing an agreement

You can receive a consultation online – SEB Life and Pension Baltic SE customer consultant will offer you the most suitable saving options based on your needs. You can apply for a consultation here.

Adding money to savings

The insurance agreement allows you to make contributions freely. However, we recommend you to set up a standing payment order to build up sufficient savings.  For your convenience, the internet bank provides the possibility to create a standing payment order, which SEB will execute automatically with regularity and amount set by you.

It is also possible to make additional contributions to the savings at any time and with the amount of your choice in the internet bank here.

Full details of the insurance contract and savings

Internet bank provides information on all your agreements, their terms, insurance amounts, beneficiaries, and allows you to keep track of your savings here.

Changes to the agreement

You can make various amendments to the agreement in the internet bank – change the beneficiary, apply for the indemnity, change the selected or add new funds and make other amendments. You can ask questions about making savings here.

In case of questions, please call us at +371 67079800 (on working days from 9.00 to 17.00).

The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.

Life insurance with savings calculator
Calculate how much can you save and receive in tax refunds using Life insurance with savings.
 
 
Monthly deposit in savings account
EUR
 
Savings goal
EUR
 
Savings term
years
 
 
5050 EUR (approx.)
With 3% profit: 5050 EUR
With 0% profit: 4352 EUR
With -3% profit: 3761 EUR
 
960 EUR (approx.)
 
0 EUR per month (approx.)
Total returns: 6010 EUR (approx.)
(savings + tax refunds)
Apply
Back
Calculate

The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.


The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.

  In force to
Life and accident insurance claim application (LAT)
In force

The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.

Unit-linked life insurance with savings

Terms and Conditions No. 101.060/101.061

Consultation on the conclusion of the agreement, review of the application Free of charge
Purchase or sales of investment units Free of charge
Changes in allocation of further contributions or existing savings Free of charge
Change of life insurance sum insured Free of charge

Limitations

Minimum life insurance sum insured 150.00 EUR
Minimum accident additional insurance sum insured 1 500.00 EUR
Minimum surrender value 0.00 EUR

Terms of executing calculations, amendments and termination

Purchase of investment units Within 5 working days
after receipt of the insurance premium1
Calculation of the accumulation in case of death of Insured Within 5 working days
after the application submission date1
Calculation of the accumulation in case of termination of the insurance agreement The surrender value is calculated in accordance with the agreement within 5 working days after the application submission date1
Calculation of accumulation in case of maturity of the insurance agreement Within 5 working days
after the agreement end date1
Changes in allocation of further contributions Within 5 working days
after the application submission date
Changes in allocation of existing savings:
   •  sale of investment units Within 5 working days
after the application submission date1
   •  purchase of investment units Within 5 working days
after execution of the sale transaction1
Change of the Life insurance sum insured (changes take effect starting with the next payment period indicated in the policy) Within 10 working days
after the receipt of all required documents

Currency exchange rate

Currency exchange rate, if currency exchange is required Currency at the exchange rates of the European Central Bank on the day of the calculations

Guaranteed yield of savings

Guaranteed savings in EUR Standard interest rate EUR on Savings deposit of SEB bank
Guaranteed savings in USD Standard interest rate USD on Savings deposit of SEB bank

 


 

1 Except when a Management Company provides the performance of transactions according to a different schedule (for example, Funds may be closed for transactions and the value of their units is not calculated if there is a bank holiday in the country in which the fund is registered or/and managed).

The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.

Contacts

I would like an SEB employee to contact me

Please provide your contact information, and the SEB Life and Pension Baltic SE experts will contact you to discuss the issues related to insurance, building of savings and use of tax relief.

Your data will be processed according to Data Processing Principles (PDF) you can get also acquainted with in branches.

S|E|B

Uzmanību! Jūsu pārlūkprogramma neatbilst SEB mājas lapas prasībām, lūdzu, atjaunojiet to vai izmantojiet citu ierīci lapas aplūkošanai.

Attention! Your web browser does not correspond to the requirements needed to visit SEB website. Please change web browser or device that you use for browsing the site.

Внимание! Ваш браузер не отвечает требованиям, необходимым для посещения сайта SEB. Просим поменять браузер или устройство, при помощи которого вы производите поиск в браузере.