Glossary of Terms

Insurer -insurance stock company AAS "SEB Dzīvības apdrošināšana"?

Insurance client - an individual or a legal entity, which has concluded the insurance contract

The Insured - an individual on whose behalf the insurance contract has been concluded and who, at the moment of contract conclusion is no younger than 15 years of age, and who, at the end of the insurance term, is no older than 70 years of age

Beneficiary - a person, selected by the insured, who will receive the insurance proceeds or part of them in the case of the insured's death.

Face Amount - the amount shown in the policy, which accrues in the course of the contract term, not including the supplementary bonus. The face amount may not be less than the minimum amount set by the insurer.

Life Insurance Risk Amount - the amount for which the insured's life is insured

Accrued Amount - paid-in premiums from which are deducted the mandatory payments of the insurer as stipulated by the law, contract administration expenses and the life insurance risk premiums. The insurer calculates the guaranteed earnings each month and adds them to the accrued amount,

Insurance term - the time period during which the coverage of the insured is in effect.

Age of the Insured - the difference between the insured's birth year and the year when the insurance contract becomes effective.

Insurance Year - A period of 12 months counted from the effective date of the contract.

The Insurance is not Applicable in Case of:

• The insured's suicide
• The insured's death, caused by AIDS
• The insured's death, caused by the insured committing a wilful crime
• The insured's death occurring while the insured is detained, arrested, is under house arrest, or is imprisoned for a wilful crime
• The insured's death, caused by war, mass riots, strike, nuclear energy accidents (or cleanup of the consequences of such accidents), declared martial law and comparable causes

Repurchase Amount - the paid-in premiums are reduced by an amount necessary to keep the contract in force, The repurchase amount is always specified in the supplement to the contract.

Basic Insurance - insurance with value accrual or life risk insurance.

Supplementary Insurance - insurance, which is in force simultaneously with the Basic Insurance, if the insurance client and the insurer have agreed to that in the policy.

Accident Insurance Amount - amount, stated in the insurance contract, for which the life and health of the individual has been insured by the supplementary accident insurance