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Loan payment insurance

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Make sure you don't have to worry about repaying the loan

Find out how much it would cost you to insure your loan payments

  • In case of illness, accident or loss of employment, the insurance will cover the monthly loan payments
  • In case of a severe diagnosis, the loan balance will be repaid in full
  • Insurance will protect the family from losing their home in the event of the borrower's death

Find out how much it would cost you to insure your loan payments

How to apply?

When you get a loan 

 

  • Ask your SEB consultant for an insurance offer

  • The insurance payment will automatically adjust to the loan payment schedule

     

View options

If you already have a loan in SEB bank

 

  • Apply for a consultation

  • Get an insurance offer tailored to your loan payment schedule

  • Sign the Contract in the internet bank

Apply for consultation

Loan payment insurance offers
several types of protection

Life insurance

  • If the insured person loses his or her life due to an accident or illness, the insurer covers the remaining loan or a part thereof (up to EUR 190 000). Thus, their relatives will inherit their home rather than credit obligations. 

Borrower insurance terms and conditions

Permanent incapacity for work

 

  • In case of a severe diagnosis, such as loss of two or more limbs, loss of speech, blindness, deafness, paralysis, coma, severe burns, the insurer covers the remaining loan or part of it (up to EUR 190 000 per insured person).

 

Temporary work disability

 

  • In case of incapacity to work for more than 30 days due to illness or injury, the insurer covers monthly loan payments to the bank.
  • The maximum compensation is EUR 1,500 per month and the payment term for one case is 12 months. 
  • The insurance takes effect 30 days after signing the contract. 
  • The indemnity is not paid for the first 30 days after the insurance event.

Involuntary unemployment

 

  • In case of job lost for more than 30 working days due to, for example, the employer's notice, a mutual agreement initiated by the employer, redundancy or liquidation of the company, the insurer covers the loan payments to the bank. Thus giving the opportunity to look for another job without worrying about loan payments.
  • The maximum compensation is EUR 1500 per month and the payment term for one case is up to 6 months. 
  • The insurance takes effect 90 days after signing the contract. 
  • The indemnity is not paid for the first 30 days after the insurance event.

Unemployment insurance terms and conditions (LAT)

Worth knowing

Any Latvian resident aged 18 to 55 who has a housing loan with SEB bank can apply for insurance. The maximum term of the insurance contract is until the insured person turns 60 years old.

Yes, it is also possible to insure the co-borrower. This solution will be especially suitable for you if you are repaying the loan together.

The monthly payment of the insurance depends on the total amount of the loan to be repaid, as well as the age of the insured person. 

The monthly payment for the insurance will be deducted at the same time as the monthly loan payment until the end of the loan agreement.

What should one do if an insurance event occurs?

  • Fill in the indemnity application
  • Submit all required documents
  • Receive compensation

Need advice on Loan Payment Insurance?

 

  • Our consultants will help find the most suitable solution for you
  • Convenient video consultation
  • Possibility to conclude the contract remotely

Apply for a consultation

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