Savings for pension with insurance will provide financial protection for your loved ones and at the same time will help you accumulate capital for your old age in addition to the state pension.
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.
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.
It is smart to build your savings during your working years when your have a regular income; thus, with small, regular contributions you will save up your private pension.
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 a contract, you determine its term. At the end of the term you will submit your Indemnity Application (PDF) (through internet bank in the branch) and get 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 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.
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.
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, internet bank 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 – change the beneficiary, 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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