Sense of security in unforeseen circumstances
Insurer is SEB Life and Pension Baltic SE Estonian Branch. Insurance cover for the loss of employment is offered by ADB Gjensidige Estonian branch.
See the amount of the monthly payment of the Loan protection insurance for your home loan.
- Covers your monthly loan payments in case of an illness, accident, or job loss
- Covers the loan balance in case of a severe diagnosis
- Protects your family and home in case the borrower dies
How to conclude the Loan protection insurance?
When applying for a new loan
- Get an offer from the SEB representative when applying for a loan
- The insurance payment is automatically calculated on the same day with the loan payment
When you already have a home loan in SEB
- Register for a consultation
- Get the personal offer
- Sign an agreement in the Internet Bank
Loan protection insurance includes
various covers
Life insurance cover
- In case the insured person dies as a result of an accident or illness, the insurer repays the loan or the agreed part of it to the bank. Instead of a loan obligation, your family will inherit their home.
Severe health impairment cover
- The insurer repays the loan or a part of it to the bank in the event of a serious diagnosis, such as the loss of vision, loss of hearing, loss of speech, severe burns, paralysis, coma, or loss of limbs.
Temporary disability cover
- This cover enables fulfilling loan obligations in the event of a sick leave for more than 30 days as a result of an accident or illness; in this case, the insurer continues loan payments according to policy conditions.
- The maximum period of indemnity per one case is 12 months.
- Waiting period is a 30 day period from the insurance cover start date, during which benefit is not paid out in case of insured event. Waiting period is not applicable if insured event is caused by an accident.
- The indemnity is not paid for the first 30 days after the insured event.
Unemployment cover
- This cover is offered only with new loans, and cannot be purchased after loan has been paid out more than 6 months ago.
- This cover provides a sense of financial security during a period of unemployment caused by reasons beyond the insured person’s control, such as redundancy or the employer’s insolvency, and guarantees the performance of loan obligations.
- In this case, the insurer continues loan payments according to policy conditions.
- The maximum period of indemnity per one case is 12 months.
- Waiting period is a 60-day period as of the start of insurance cover; no indemnity is paid out if the employment relationship ends or its end becomes known during this period
- The indemnity is not paid for the first 30 days after the insured event.
Good to know
This agreement can be concluded by persons aged 18–55 who have a loan in SEB Bank and insurance is valid until the maximum age of 61 of the policyholder.
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.
You can insure both home loan borrowers. This is the best solution in case of a joint home loan. Only main applicant can conclude consumer loan agreement with loan protection insurance.
The sum of the insurance premium depends on selected insurance coverage and insurance rate, loan balance, loan payment amount, and the age of the insured person.
Insurance premium is paid on the same day with the loan repayment every month until the end of the loan period.
What should I do in case of an insurance event?
- Fill in the notice form for the insured event
- Submit the required documents
- Receive an insurance benefit
More about the SEB Loan protection insurance
Need advice on Loan protection insurance?
- Our advisors help find a suitable solution
- We have a dedicated professionals you can trust
- Convenient video consultations
- An agreement can be concluded remotely
More ways to protect yourself
Term Life insurance
- Compensates for lost income during the period of incapacity for work
- Financial security in case family loses their breadwinner
- Ensures that your loan obligations are covered and not inherited
