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Life insurance

The man knows that his family is safe. He has life insurance

Life insurance made simple

Life moves fast. Life insurance helps you stay in control, wherever life takes you.

  • Protection from financial challenges;
  • Mortgage protection;
  • Additional trauma cover;
  • Free Anti-bullying service for children;
  • Sum insured Booster for value protection.
24/7 worldwide coverage Calculate your needs Free change of insurance terms and conditions

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Life Insurance

What is your monthly net income (after tax)?

We will use your income to calculate the recommended sum insured and to conclude a contract.

The sum insured should cover the income you would lose in case of severe disability or death. Calculate your average net income over the last 6 months (including salary, pension, social security benefits and business income, dividends). Do not include transfers from relatives, income from investments, leasing your own car, renting, or selling real estate.

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Please select why do you want to insure.

Why do you want to insure your life?

Under the question mark, you can find more detailed information about each need.

Total balance of other obligations

Total balance of other obligations should be entered.

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Recommended insurance amounts

Check whether your life insurance amounts meet your needs. We recommend insuring yourself with an amount that can cover at least 3 years of income and obligations.

When choosing the amount of life insurance, make sure it covers at least 3 years of income and obligations. A higher amount of insurance would give you or your family more time to adjust to a new financial situation. This amount applies in the event of both severe disability and death. The minimum life insurance amount is EUR 20 000. This feature is available with sum insured up to €200 000. This can help to protect the value of your sum insured against the inflation by automatically increasing it annually by 3%. You can switch the automatic increase off if you wish, in which case sum insured will not increase on your next birthday. If you get additional trauma insurance, in case of insured event you will receive an insurance benefit (in case of an accident, such as a fractured bone). Note that illnesses are not considered as traumas. You can find list of covered traumas here. The fixed amount of trauma insurance is EUR 20 000.20 000 €

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Your Life insurance overview

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Life insurance to cover loan

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The sums insured and insurance premium are calculated based on your age, income, desire to protect your close ones and cover your loan obligations. The calculations are approximate and may differ from the offer received by you.

To conclude the agreement, please fill in the health questionnaire.

„Swedbank Life Insurance SE“ processes your personal data by automated means, including profiling, to assess insurance risk, calculate premium and sum insured and conclude insurance contract. We process health and other data we receive from you and data we have in existing and previous insurance contracts and applications. We also process data shared by Swedbank AB, such as your identification data, contact data, data on the customer's belonging to a certain segment or risk group, as well as your age and financial data if applicable. Agreement conclusion may be fully automated. Please read more from our Principles of Processing Personal Data .

Swedbank’s life insurance provides

In the event of death money will be paid to your chosen person (or people) or heirs. If you have life insurance to cover a loan, the payment will be made to Swedbank.

Cover is valid for people aged 18 to 70.

Disability cover is valid for people aged 18 to 60 who lose their ability to work due to illness or an accident (if your working capacity is determined to be 30% or less) for at least 12 months. The life insurance benefit will be paid to you or to Swedbank, if you have a life insurance to cover loan contract.

For 6.25 EUR/month you will receive a payout in case of injury from accidents such as bone fractures.

By choosing injury protection, you can get up to EUR 20,000. The amount depends on the severity of your injury based on the injury table.

In the event of your death or severe disability your Swedbank mortgage will be repaid fully or partially – depending on the insurance amount you have chosen.

The payout will be transfered directly to Swedbank for automatic repayment of your loan. This will help to ease the financial burden on your loved ones.

Your cover is valid 24/7 worldwide, so you will be protected wherever you are.

Easily manage your insurance online whenever you need: with just a few clicks you can update your coverage or change your payment date.

This service is designed to help support families whose children (ages 6–17) have experienced bullying in or outside of school, online or elsewhere.

Bullying cases have to be reported on the Fonds Plecs website. You will need to:

  • register yourself and your children;
  • Provide information about the bullying incident which will be reviewed by The Fonds Plecs foundation.

Service offered in partnership with the Fonds Plecs foundation.

Your insurance sum can be better protected from inflation.

  • Every year your life insurance amount will be increased by 3% compared to the previous year’s amount.
  • You will not need to remember and adjust it yourself – your cover will stay protected against inflation.

Simply turn on Sum Insured Booster in calculator, when setting up your contract or modify your existing contract.

Swedbank’s life insurance provides

In the event of death money will be paid to your chosen person (or people) or heirs. If you have life insurance to cover a loan, the payment will be made to Swedbank.

Cover is valid for people aged 18 to 70.

Disability cover is valid for people aged 18 to 60 who lose their ability to work due to illness or an accident (if your working capacity is determined to be 30% or less) for at least 12 months. The life insurance benefit will be paid to you or to Swedbank, if you have a life insurance to cover loan contract.

For 6.25 EUR/month you will receive a payout in case of injury from accidents such as bone fractures.

By choosing injury protection, you can get up to EUR 20,000. The amount depends on the severity of your injury based on the injury table.

In the event of your death or severe disability your Swedbank mortgage will be repaid fully or partially – depending on the insurance amount you have chosen.

The payout will be transfered directly to Swedbank for automatic repayment of your loan. This will help to ease the financial burden on your loved ones.

Your cover is valid 24/7 worldwide, so you will be protected wherever you are.

Easily manage your insurance online whenever you need: with just a few clicks you can update your coverage or change your payment date.

This service is designed to help support families whose children (ages 6–17) have experienced bullying in or outside of school, online or elsewhere.

Bullying cases have to be reported on the Fonds Plecs website. You will need to:

  • register yourself and your children;
  • Provide information about the bullying incident which will be reviewed by The Fonds Plecs foundation.

Service offered in partnership with the Fonds Plecs foundation.

Your insurance sum can be better protected from inflation.

  • Every year your life insurance amount will be increased by 3% compared to the previous year’s amount.
  • You will not need to remember and adjust it yourself – your cover will stay protected against inflation.

Simply turn on Sum Insured Booster in calculator, when setting up your contract or modify your existing contract.

You can easily sign your life insurance contract in the internet bank.

Use the life insurance calculator to estimate your monthly insurance premium based on chosen coverage amount. Click “Continue” to fill in your details and follow the steps provided.

If a health check is needed for contract conclusion, it’s done free of charge by our medical partner.

Let your loved ones know about your life insurance, so they’re aware of what to do if something happens.

Conditions

Calculator

Life insurance to cover loan

In case of an insurance claim, fill in the application via Internet Banking or contact us by phone on +370 5 268 4444 for information and further guidance.

Please be informed that:

  • In the case of death of the insured person, the sum insured will be paid to the person designated in the contract or inheritor.
  • In the event of a trauma the indemnity insurance amount will be paid to you directly.
  • In case of inability for work (disability) the indemnity insurance amount will be paid to you directly or to the beneficiary designated in the contract.
  • In the case of trauma protection, the person will be compensated for injuries (e.g. broken bones, tears) that have been caused by accidents (e.g. a fall, being hit, collision, attack). Trauma is not an illness (e.g. influenza, spondylosis), muscle pain caused by exercise or chronic pain (e.g. back pain, knee pain or shoulder pain).
  • Severe disability shall mean the condition when a person’s level of capacity to participate (working capacity until 31/12/2023) is equal to 30% or less and it is caused by a serious disease or trauma. It has to be determined by a competent authority of the Republic of Lithuania and it has to last for at least 12 months.
  • Insurer makes the decision and insurance indemnity is paid no later than within 30 calendar days from the date when all information and documents concerning the event is received.

Over EUR 4 700 000

that is the total amount of life insurance payouts.

74%

that is the percentage of cases of death and severe disability caused by an illness.

84%

that is the percentage of clients who experience an injury within the first three years of their insurance.

According to data from Swedbank Life Insurance SE Lithuanian branch data for, 2024.

More about life insurance

Having insurance coverage that includes illnesses in addition to accidents is important because most cases of deaths and severe disabily are caused by illness. Insurance will not bring back your life or health, but it can provide financial support when you need it most.

Financial support for you and your family

Ask yourself: Could your family manage financially if you were suddenly unable to work or passed away due to a serious illness or an accident? Life insurance can help to ensure your family’s financial stability.

Financial support for you

The same logic applies even if you live alone. If you don't want your responsibilities falling on loved ones, consider a life insurance policy.

Life insurance offers broad protection, but there are also some important exceptions to keep in mind. The full list of exclusions is found in the Insurance Terms and Conditions.

Here are main examples what’s not covered:

Accidents involving alcohol or drugs

In case of trauma or death: the insured was under the influence of alcohol, drugs or other intoxicating substances and their concentration in the blood exceeded the legal limits in country where the accident occurred.

Risky activities

This includes flying as a pilot or crew member (except regular commercial passenger flights).

Suicide

Not covered if it happens within the first 3 years of the contract

Self-harm

Severe disability and traumas caused by self-inflicted harm aren't covered.

Extreme situations

These include nuclear accidents, the effects of weapons of mass destruction, military actions, and participating in combat operations (except participation in military exercises).

Life insurance is not an investment policy. This means that premiums are not accumulated, and no payout is made at the end of the policy term.

Life insurance provides financial protection in the events of death or severe disability caused by illness or an accident. You can also add trauma cover for serious injuries.

Accident insurance is more limited – it does not cover cases where death or serious disability is caused by an illness.

The right life insurance amount depends on your personal financial situation. Use our life insurance calculator – it will help you to figure out the right coverage based on your income and financial commitments.

The minimum coverage you can choose is EUR 20,000.

We recommend to choose a sum that covers:

  • at least 3 years of your net income;
  • all your loan obligations such as mortgage or leases.

You may also want to think about:

  • your family's monthly expenses (utilities, food, childcare);
  • your children's needs and future education;
  • your financial well-being in case of long-term severe disability;

To make sure your insurance keeps its value over time, we suggest adding Sum Insured Booster to your policy. Every year it will automatically increase your insurance amount by 3%.

The right amount gives your loved ones time to adjust financially if something happens to you.

To conclude a life insurance contract, you need to:

  • be a Swedbank customer;
  • be a resident of Lithuania;
  • be between 18 and 68 years old;
  • have a monthly income of at least EUR 500;
  • complete a health questionnaire for the insurance.

Depending on your answers to the questionnaire, we may ask for extra medical information or to do a free health check provided by our partners.
  • Life and severe disability cover begins on the day your contract is signed.
  • Additional trauma cover starts the next day after the contract is signed.
  • If your insurance is tied to a loan, all coverage starts on the next business day after the contract is signed, but not before the loan is paid out.

Yes, your life insurance is valid worldwide, 24/7, whether you are traveling or on an extended stay outside Lithuania.

Just make sure that:

  • you continue making your monthly payments;
  • your personal details (like your address) are up to date.

Important! Insurance coverage does not apply in countries where a state of war has been declared.

Anti-bullying support is a free service for families whose children have experienced bullying in school, outside of school, or online (except with family members and relatives). It is available to customers with eligible Swedbank life insurance contracts, for children aged 6 to 17 living in the same household.

Find out more about the service in the terms and conditions of the Anti-Bullying service.

The support includes:

  • expert assessment to understand whether the situation is bullying or a conflict;
  • step-by-step guidance for parents;
  • up to 12 individual consultations specialists;
  • fast support in serious cases.

The service is for:

  • families whose child is being bullied;
  • families whose child is bullying others or is encouraging bullying.

How to use it?

  1. Make sure your life insurance contract is active.
  2. The last bullying incident must have happened within the last 3 months.
  3. The service is provided by the Fonds Plecs foundation. To register and submit your case, visit mobstop.lt.

You will get the help you need quickly and free of charge.

No, this life insurance is not a savings or investment product, so your payments will not be refunded when the contract ends.

Why not?

Life insurance provides protection for the duration of the policy. Your payments go towards coverage, not savings.

The only exceptions:

  • If you cancel within the 30-day withdrawal period after registering online, you will get a full refund of any premiums you have paid.
  • If your life insurance policy linked to loan is terminated because the loan is repaid early, premiums already paid for the period you were covered are not refunded.

Illness-related events are covered

If death or severe disability is caused by an illness, even during a pandemic, it's still covered by your insurance, unless it falls under a specific exclusion (see What is not covered by life insurance?)

War and military conflicts are not covered

Life insurance does not cover events caused by war, military actions, political armed conflict, or nuclear incidents.

Each case is reviewed individually to see if the event was directly linked to such exclusion events.

If Sum Insured Booster is selected in the contract, the life sum insured will increase every year on your birthday by 3%.

This feature is available for coverage up to EUR 200 000 (over all life insurance contracts, except insurance those linked to mortgage).

Sum Insured Booster is valid for one year and will be automatically renewed on the same terms and conditions every year unless you cancel it. You can easily turn off this feature anytime by going to the contract changes section.

Example of changes with Sum insured booster: 30 years old person, sum insured – EUR 50 000.

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No, trauma cover only includes injuries from accidents, not illnesses like flu, pneumonia, or chronic pain.

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Illness and unemployment protection

Insurance that helps you with loan repayments in case of losing your job or capacity for work. Read more

Contacts

  • +370 5 268 4444

Insurance claims handling

In the case of an insured event, please notify us either personally or via a family member at the earliest opportunity.
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