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  2. Borrower’s life insurance

BORROWER’S LIFE INSURANCE

Protects loved ones from credit obligations in case of sudden loss of life.

Apply for a consultation Claim online

Paying off your loans

Share your financial responsibilities with us in the case of death.

Option to insure additional persons

Add accident insurance additionally.

Ability to choose insurance according to your needs

Purchase additional accident insurance.

Service provided by Citadele subsidiary AAS "CBL Life".

Why insure?

  • If you have loans - for example, a mortgage, leased car or any other long-term obligations - then borrower's life insurance may be useful. You can insure your life for the amount of your loans so that, if something occurs, your family is not left with outstanding debts.
  • In addition, you can insure the life of the guarantor and co-borrower.
  • Borrower's life insurance can be purchased even if your loan is with another bank.
Apply for a consultation

Add aditional accident insurance

Choose additional accident insurance for yourself and your family, and avoid sudden financial expenses resulting from broken bones, injuries, permanent disability or death.

Apply for a consultation

Relevant before signing the contract

  • Assess your needs: what kind of protection do you require and whether it is provided by the selected product.
  • Check the terms and conditions of the insurance contract: what will be the insurance coverage, when will the insurance benefit be paid, what will be the monthly premiums and in what order they will need to be paid.
  • Check the detailed list of non-insurable events: find out in cases of which events or activities the insurance benefit will not be paid.

Check the rules of borrower’s life insurance (in Lithuanian).

Didn’t find the answer to your question?

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Who needs life insurance?

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.

When do I need to pay the insurance premiums?

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

Who can take out a borrower’s life insurance agreement?

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.

Is it possible to change the terms of the contract if the contract has already been signed?

The policyholder has the right to make changes to the contract if this is stipulated in the insurance contract. As a rule, the insurance contract specifies that it is possible to change the beneficiary, take out additional insurance against accidents, or refuse to insure against accidents, as well as reduce or increase the insurance amounts.

When and where is the insurance contract and insurance coverage valid?

The insurance contract and protections are valid worldwide 24 hours a day.

More questions
Who needs life insurance?

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.

When do I need to pay the insurance premiums?

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

Who can take out a borrower’s life insurance agreement?

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.

Is it possible to change the terms of the contract if the contract has already been signed?

The policyholder has the right to make changes to the contract if this is stipulated in the insurance contract. As a rule, the insurance contract specifies that it is possible to change the beneficiary, take out additional insurance against accidents, or refuse to insure against accidents, as well as reduce or increase the insurance amounts.

When and where is the insurance contract and insurance coverage valid?

The insurance contract and protections are valid worldwide 24 hours a day.

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