When your child will reach adulthood, he/she might need your support for starting an independent life, for example for:
Be prepared to provide this support by starting to invest in the future of your child already now.
* Please note that the tax information provided herein is based on the currently applicable legislation, however, the tax legislation can change over time. The tax result 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.
Your life will be insured along with building up your savings, providing financial protection for your child. If the worst happens and the child's parent dies, the insurance amount and the savings are paid into the account of the child.
You also have the option of choosing the accident insurance for yourself or your child. Insurance will be valid 24 hours every day, regardless of your or your child's location – at school, 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
PROFITABILITY
You can build savings into investment funds with the opportunity to earn more depending on fund performance and the acceptable risk.
TAX BENEFITS
The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.
When concluding the contract, you will determine the term when you can access the accumulated capital. By submitting the Indemnity Application (LAT, PDF), the child will receive the actual savings.
If any unexpected situation occurs, and you suddenly need the accumulated money before the term, you can also terminate the contract before its expiry, receiving the specified redemption amount. If you have received individual income tax incentives breaking the contract within the first 10 years, you will have to reimburse the individual income tax on the amount for which the tax incentives had been applied.
If the worst happens and the child's parent dies, the insurance amount and the savings are paid into the account of the child on basis of the application of the child's lawful guardian.
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.
Calculate how much you need to save for your child’s future
With 3% profit: 1489 EUR
With 0% profit: 1000 EUR
With -3% profit: 996 EUR
The service is offered and provided by SEB Life and Pension Baltic SE, registration number: 40003012938.
The insurance contract provides a free choice of payments; however, it is recommended to make regular payments to build sufficient savings. For your convenience, Ibanka provides the possibility to create a regular payment order, which SEB banka will execute automatically with regularity and amount set by you.
It is also possible to make additional contributions into the savings through internet bank – at any time and with the amount of your choice.
Internet bank provides information on all your contracts, terms, insurance amounts, beneficiaries, and you can keep track of your savings.
You can make various amendments to the contract through internet bank – apply for the indemnity at the end of the period of the contract, change the selected funds where your existing savings are deployed, change the fund for further savings, as well as change the risk tolerance limits.
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.
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.
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