Loan insurance
Worried about what will happen if you lose your income?
Loan insurance to help you feel more at ease
To conclude an insurance contract, you need:
Be aged between 18 and 64
Minors and pensioners are not eligible for loan insurance.
Permanently live and pay taxes in Lithuania
To take advantage of the services, you must be a resident of Lithuania and have regular tax obligations in the country.
Have a loan with a maturity of at least 6 months
To benefit from the insurance, the loan term must be longer than 6 months.
Pay a loan with a monthly payment of at least €20
Your loan must be sized so that your monthly repayments are at least €20.
Why buy loan insurance?
Taking out loan insurance is a wise decision as it gives you financial security and peace of mind. It ensures that if you unexpectedly lose your income due to illness, accident or even job loss, your loan repayments will be covered. This helps to avoid additional stress and protects you from potential debt problems in the future. It can also help to preserve your existing assets and ensure that financial obligations do not cause long-term problems.
01
Keeping your finances safe
Loan repayments will be covered for up to 12 months if you lose your job or are temporarily unable to work due to illness or accident.
02
All serious diseases are covered
Including COVID-19, flu, cancer, heart attack and others. Cover does not apply if the disease was diagnosed before the contract was concluded.
03
Loan cover in case of death
The balance of the loan up to EUR 25 000 will be covered in the event of death, equivalent to the outstanding amount of the loan (excluding interest), but not exceeding the amount stated in the insurance policy.
04
Ability to cancel your insurance contract at any time
You can cancel the insurance contract at any time, and the cost of the cover is just 6% of the monthly payment.
When does loan insurance take effect?
Insurance conditions for involuntary loss of employment and temporary incapacity for work: Involuntary redundancy cover comes into force when the employment contract is terminated at the initiative of the employer or by mutual agreement, and you have been unemployed for more than 60 days and are registered with the employment service. The insurance contract must have been signed at least 60 days ago. Temporary sickness insurance comes into force when you are unable to work for more than 60 days because of an illness or accident certified by a doctor. Cover starts if the contract is signed at least 30 days before.