Illness and unemployment protection

  • 86% of cases was due to incapacity to work.
  • Average amount paid in claims was 376 euros.
  • We paid out 599 000 euros in insurance indemnities.

Insure yourself against unemployment and incapacity for work

Loan Payment Protection Insurance helps you to pay the monthly loan payments in case you:

  • losing your job unexpectedly;
  • sickness resulting in a temporary incapacity for work;
  • temporary incapacity for work due to e. g. a trauma or another accident.

In case of unemployment or sick leave we will cover amount of your loan payments for up to 12 months.

*A summary of losses in 2018 according to the data of Swedbank P&C Insurance AS Lithuania branch on outpaid insurance indemnities.

What is the cost of insurance?

The calculation is only indicative. Please log in to your internet bank to see the exact Loan Payment Protection Insurance premium.

Monthly insurance premium
EUR

Loan Payment Protection is an insurance designed specifically for only Swedbank borrowers. The insurance will alleviate your financial burden in case you will be unemployed or be on incapacity for work.

  • With the Illness and Unemployment Protection Insurance, you will receive an amount equal to your monthly loan repayment amount every month until you return to work (in the case of losing a job – until you find your new employment), however, for not more than 12 months.
  • The insurance fee is 3% of your monthly mortgage and 4% of your monthly small loan payment. For example, if the monthly mortgage loan payment is €100, the insurance premium is €3.
  • You can conclude the insurance contract, if you still have at least 1 year of your loan agreement repayments, and if the loan balance is more then €500.
  • We recommend that also the co-borrower conclude the insurance contract.

In case of incapacity for work

If you or your child gets ill unexpectedly, suffers a trauma, etc., and a more than 30-day treatment is required, we will provide an indemnity that covers your monthly loan payments for the sick leave period.

In case of unemployment

We will pay you the indemnity, if for example, you are offered an agreement to terminate employment, you are given a notice of termination of the contract due to downsizing or eliminating your position in a reorganised company.

The unemployment cover will take effect 90 days after the insurance contract has come into force.

The indemnity will be calculated starting from 30 days after the ensured event.

You might also be interested in

Contacts

  • +370 5 268 4444
  • info@swedbank.lt
  • Insurance services are provided by “Swedbank P&C Insurance AS” Lithuanian branch through representative “Swedbank”, AB.

Insurance claims handling