Loan payment insurance

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

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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

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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

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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, valid from 18.10.2023 (PDF)

Borrower insurance terms and conditions, valid from 18.12.2019 (PDF)

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 insurance start date.
The indemnity is not paid for the first 30 days after the insurance event.

Involuntary unemployment

This cover is offered only with new loans, and cannot be purchased after loan has been paid out more than 6 months ago.
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 compensates to the customer loan payments. 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 12 months (6 months, if agreement is concluded before September 20, 2023).
The insurance takes effect 60 days after signing the contract.
The indemnity is not paid for the first 30 days after the insurance event.

Gjensidige" ADB Unemployment insurance terms and conditions, valid from 18.10.2023 (PDF)

Worth knowing

Who can apply for Loan Payment Insurance?

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.

NB! Unemployment cover can be included only when insuring NEW loans. This means You cannot sign up for unemployment cover if 6 months have passed since the loan was issued.