Benefits
The amount of your savings under the insurance agreement depends on:
- duration of the agreement
- premiums paid and invested
- success of investments
Insurance benefits will be transferred to the bank account of the beneficiary (the insured, heirs or other beneficiaries specified in the agreement).
When is the insurance benefit paid out?
At the end of the period, the beneficiary is paid out savings built up under the unit-linked life insurance agreement.
After expiry of your insurance agreement, you will be requested to provide the following at any unit of AB SEB bankas:
- identity document (passport of the citizen of the Republic of Lithuania or personal identity card)
- application for transfer of the insurance benefit to the specified bank account (to be completed at AB SEB bankas’ unit)
If the insured person passes away, the beneficiaries specified in the agreement (if no beneficiaries are specified – heirs) will be paid out the insurance benefit equal to the amount of accumulated funds under the unit-linked life insurance agreement.
Information on steps to be taken in case of the insured person's death
In this case, the surrender value will be paid out to the policyholder. The surrender value is calculated by deducting the agreement termination fee from the amount of savings. The agreement termination fees are specified in the insurance agreement Price List.
If you are willing to terminate your insurance agreement, you will be required to provide:
- identity document (passport of the citizen of the Republic of Lithuania or personal identity card)
- application for transfer of the insurance benefit to the specified bank account (to be filled out at AB SEB bankas’ unit)
