Life insurance with savings for child's future

Life insurance

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.

Personal accident insurance

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.

If an insurance case occurs, you should contact any of the SEB bank branches and fill in the Indemnity Application (PDF). You will need to submit some documents from medical and/or public authorities together with the application; regarding the documents please contact SEB Dzīvības apdrošināšana by calling 6 707 9800.

• SAVINGS

  Future capital of your child

  • 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 will earn interest

  • You can build savings with guaranteed return – savings will have a fixed interest rate for the entire insurance period.

  OR

  • You can build savings into investment funds with the opportunity to earn more depending on fund performance and the acceptable risk.

• 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

At the end of the contract period

When concluding the contract, you will determine the term when you can access the accumulated capital. By submitting the Indemnity Application (PDF), the child will receive 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, 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.

In case of death of the insured

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.

Adding money to savings

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.

Full details of the insurance contract and savings

Internet bank provides information on all your contracts, terms, insurance amounts, beneficiaries, and you can keep track of your savings.

Changes to the contract

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.

Unit-linked life insurance with savings