BORROWER’S LIFE INSURANCE

Persons aged 18 to 69 (inclusive), who are clients of Citadele Bank and have taken out a mortgage loan from Citadele Bank or any other bank. It should be noted that the maximum duration of the insurance contract is until the insured person reaches the age of 70.

Life insurance can ensure the financial security of the insured person and their family in the case of accident, illness or disability, or of the family in the case of death. We recommend life insurance to insure the life and health of the main breadwinner of the family, especially if there are young children in the family and you have long-term financial obligations. In the event of an accident, the insurance payout would cover your financial obligations.

Yes, any customer has the right to terminate their contract early.
If you decide to terminate the contract within 30 days of signing the contract, you have the right to do so and the insurer is obliged to refund you the full insurance premium paid.
If you decide to terminate the contract after the first 30 days, the amount we disburse in insurance may be less than the amount you had paid in premiums, as we have incurred costs opening and administering your account.

The insurance premium payment frequency can be chosen by the client: monthly, quarterly, semiannually or annually.

It is very important to provide your correct personal information. It is usually necessary to fill out a questionnaire, but if necessary, the insurer may ask for additional documents. This is so that the insurer can assess your situation and risks, and make an insurance offer.
Required information:

• Your age;
• State of health;
• Profession and hobbies;
• Other information relevant to the insurance risk.