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Illness and unemployment protection

  • 94% of cases are sick leave*
  • Average payout is 363 EUR*

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;
  • stay on sick leave for more than 30 days also due to your child‘s illness;
  • 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.

* Swedbank P&C Insurance AS Lithuanian branch data, January-September 2023.

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Loan Payment Protection is an insurance designed specifically for only Swedbank borrowers. It is possible to conclude insurance agreement together with new loan, it means 30 days counting since loan contract conclusion. 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, in case of an insured event, 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 within 30 days since loan contract conclusion, if your loan has a term of at least 1 year and if the loan balance is more than €500.
  • We recommend that also the co-borrower conclude the insurance contract.

Incapacity due to illness

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.


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.

In the Terms and Conditions you can find detailed information about insured events and exclusions, principles of indemnification and other important conditions.

After signing a new loan conctract your monthly payment will be visible in the internet bank. Conclude an insurance contract by confirming it in the internet bank within 30 days of loan contract signing.

Insurance cover "Incapacity due to illness" is valid from the first day of the insurance period specified in the insurance policy.

Insurance cover "Unemployment" will take effect 90 days after the first day of the insurance period specified in the insurance policy.

If you lose job:

  • keep documents certifying termination of your employment contract (a copy of the employment contract, documents of dismissal agreement, etc.);
  • get registered with the Employment service (former Labour Exchange).

Fill in the form of event notice

If you lose capacity to work because of illness or accident:

  • Event (accident, trauma or illness) must be certified by a certificate of incapacity to work issued by a doctor.

Fill in the form of event notice

If insured event occurs, our damage experts will provide professional assistance to you.

  • Please be informed, that in case of insurance indemnity payout, insurer will pay out to your bank’s account, therefore you have to continue with your loan monthly payments according to your loan agreement.
  • The indemnity will be calculated starting from 30 days after the insured event takes place.
  • The maximum period for being indemnified is 12 consecutive months.
  • The indemnity will be paid to your bank account.


If your monthly loan payment is €210 and you fall ill for 50 days, then you‘ll get the indemnity for 20 days. Daily indemnity is €7 (210 € : 30 days). The amount of benefit for these 20 days will be € 140 (20 days x € 7).

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Learn more


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

Insurance claims handling

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