As of 1 July 2015 the Term Life insurance conditions shall change

AS SEB Elu- ja Pensionikindlustus will change the Term Life insurance conditions. The new terms and conditions enter into force as of 1 July 2015 and shall apply to all valid Term Life insurance agreements.

You can view the updated terms and conditions here.

Upon disagreeing with the changes, the client has the right to terminate the concluded Term Life insurance agreement at the latest on 30 June 2015. If the client does not notify us of the wish to terminate the agreement, we will regard this as acceptance of these changes and, as of 1 July April 2015, the new terms and conditions shall apply to agreement(s) concluded with the client.

Most significant changes in the Term Life insurance conditions

1. We have added a clause describing disappearance as insured event  (clause 2).
“Death shall not be presumed by disappearance unless the insured person is held dead by court and a final death certificate has been drawn.”

2. We have removed and rewritten some of the exclusions (clause 3.1).
The sum insured shall not be disbursed by the insurer in the event of an insured event if:

1. at the time of the conclusion of the insurance contract, the policyholder knowingly provided incorrect or incomplete information with respect to his or her state of health or that of the insured person or data regarding the insured person which may increase insurance risk;
2. the insured person died as the result of suicide within two years since the policy commencement date;
3. the insured died as a result of driving any motor vehicle (land vehicle, water craft or aircraft) or operating a machinery being under an influence of alcohol, narcotic, psychotropic or other intoxicating substances with the levels of concentration thereof in the body fluids exceeding the maximum limits permissible under the regulations of the country where the accident takes place;
4. the insured person died as a result of a nuclear disaster or conscious use of radioactive substances;
5. the insured person died as a result of military actions, act of an external enemy, civil war, mutiny, revolution or participation in mass disturbances;
6. the insured person died as a consequence of own or policyholder’s deliberate unlawful act.

More information about the changes made to the conditions and explanations on their significance can be obtained by contacting us by phone on 665 8020 or e-mail at kindlustusleping@seb.ee.