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  1. Private customers
  2. Life Insurance with capital accumulation in funds

Life Insurance with capital accumulation in funds

Secure your future, achieve your goals, and protect what matters most.

Apply Book a consultation

Tailored investments

Use the opportunities investment offers, and increase  your savings. 

One policy for the whole family

Choose extended coverage and insure your loved ones.

Professional assistance

Trust our experts to grow your savings responsibly and sustainably.

This service is provided by AAS “CBL Life“, represented by the insurance agent AS “Citadele banka“.

Insurance that’s twice as valuable

Life Insurance with capital accumulation in funds combines the powers of financial protection and savings growth for various goals.

  • A robust retirement fund for a more secure future.
  • Major milestones, such as your children’s education.
  • A safety net for life’s unexpected expenses.
  • Financial support for your loved ones after you’re gone.
Apply Book a consultation

Protection and financial benefits

  • Flexible contributions
    Start with as little as 30 EUR per month and adjust payments anytime.
  • Protection tailored to your needs
    Choose comprehensive insurance which offers compensation in the case of death, temporary or permanent disability, and broken bones and injuries.
  • Free choice of beneficiaries
    Choose who will receive compensation in case of your death to ensure financial security for your loved ones. You can change your beneficiaries at any time.
  • Significant Tax Benefits
    Get back 25.5% of your saved amount every year with a personal income tax refund.*
  • Easy access
    Manage your plan through the online bank with ease and schedule free consultations as needed.
Apply Book a consultation

* In accordance with the Republic of Latvia’s Law On Personal Income Tax, you can receive an income tax rebate on payments not exceeding 10% of your annual taxable income, and on no more than 4000 EUR, as long as the insurance agreement term is for no less than 10 years.

Why choose us?

  • Professional assistance
    All our investment consultants are certified through the Baltic Financial Advisors Association.
  • Expert-managed investment portfolios
    CBL Asset Management has more than 20 years of experience in growing our customers’ capital. 
  • Transparent fees
    No hidden costs, with detailed reporting and clear terms.
  • One policy for the whole family
    Extend insurance coverage to your spouse, child, or loved one under a single flexible policy.
Apply Book a consultation

Investment strategies

  Conservative close

Focuses on low-risk fixed income assets with a small allocation to riskier investments for moderate returns and limited losses during downturns.
Balanced close

Combines fixed income assets and riskier investments like equities, offering higher returns during growth periods but with potential price declines in downturns.
Dynamic close

Focuses on riskier assets like equities and high-yield bonds for better long-term performance, while investment-grade bonds help mitigate risks during downturns.
Dynamic+ close

Invests entirely in equity markets to maximize long-term capital growth. Offers the highest potential returns but comes with the highest risk. 
Risk level Low Moderate High Very High
Asset allocation Predominantly bonds Mix of bonds and equities, leans towards bonds Mix of bonds and equities, leans towards equities Focus on equities
Ideal for Risk-averse investors Steady growth seekers High-return seekers Risk-taking investors
Useful
Conservative close

Focuses on low-risk fixed income assets with a small allocation to riskier investments for moderate returns and limited losses during downturns.
Risk level Low
Asset allocation Predominantly bonds
Ideal for Risk-averse investors
Useful
Balanced close

Combines fixed income assets and riskier investments like equities, offering higher returns during growth periods but with potential price declines in downturns.
Risk level Moderate
Asset allocation Mix of bonds and equities, leans towards bonds
Ideal for Steady growth seekers
Useful
Dynamic close

Focuses on riskier assets like equities and high-yield bonds for better long-term performance, while investment-grade bonds help mitigate risks during downturns.
Risk level High
Asset allocation Mix of bonds and equities, leans towards equities
Ideal for High-return seekers
Useful
Dynamic+ close

Invests entirely in equity markets to maximize long-term capital growth. Offers the highest potential returns but comes with the highest risk. 
Risk level Very High
Asset allocation Focus on equities
Ideal for Risk-taking investors
Useful

Insurance examples for different life events

Read about various scenarios and how life insurance with accumulation in funds can provide crucial long-term support.

Tom
Tom is a 25-year-old IT specialist, starting his career and a family. He purchases a life insurance policy with accumulation in funds, sets up a regular payment, and the bank automatically transfers 50 EUR into his policy every month.
Age 25
Tom takes care of his family’s financial well-being by insuring himself against death, disability and injuries. After a skiing accident he received 750 EUR in compensation‌ close

Accident insurance amount: 10 000 EUR. For a broken ankle, based on the Terms and Conditions, you would receive 5% of this amount, or 750 EUR.
, which covered his treatment, physical therapy and other expenses.
Age 30
As his income grows, Tom increases his insurance payments to 100 EUR per month, and every year he invests an additional 306 EUR‌ close

Tax benefits in this case are based on current laws, which may change in the future. Personal income tax refunds can be claimed for deposits of up to 10% of annual income, but no more than 4000 EUR, if the agreement is in force for at least 10 years.
from his tax refund to help his savings grow larger.
Age 36
He uses more than 11 000 EUR‌ close

11 330.82 EUR saved if 50 EUR is deposited every month, and an additional 306 EUR is deposited once per year, over 11 years. This includes life insurance of 25 000 EUR, disability insurance of 20 000 EUR, accident insurance of 10 000 EUR, and an assumed annual yield of 3.4%. The actual amount may differ depending on market conditions.
from the savings in his policy for a deposit on a home. After withdrawing his savings, Tom sets up a new policy into which he pays 100 EUR per month, and uses his tax refunds for family expenses.
Age 65
Tom’s savings have reached 34 612.11 EUR‌ close

Savings amount based on regular deposits of 100 EUR per month, and an assumed annual yield of 3.4%, maintaining insurance coverage.
, which he can use to supplement his pension, cover medical costs or support his family.
Tom’s example shows how life insurance with accumulation in funds can provide financial security for your family, cover unexpected costs and gradually build savings for the future.
Mark and Emily
Mark and Emily are a young couple with two small children. Each of them opens a life insurance policy with savings accumulation in funds, making 100 EUR payments every month.
Age 30-45
Every year, the family receives a 612 EUR‌ close

The tax refund is based on current regulations, which may change. The refund applies to up to 10% of annual your income, but no more than 4000 EUR, if the agreement is in force for at least 10 years.
tax refund, which they spend on the Christmas holidays and creating beautiful family memories.
Age 45
Over 15 years, their total savings in the policy exceed 50 000 EUR‌ close

Savings of 50 121.46 EUR calculated on the assumption that Mark and Emily each deposit 100 EUR per month, and the annual yield is 5.4%. The actual amount may differ depending on the market and investment strategy.
, which helps cover the cost of their children’s education.
Age 65
Their combined savings have grown to 75 217.55 EUR‌ close

Savings of 75 217.55 EUR calculated based on regular deposits of 200 EUR per month and an annual yield of 5.4%.
, supplementing their pension savings and ensuring financial stability in old age.
Mark and Emily’s example shows how life insurance with savings helps to create savings and prepare for future expenses, such as children’s education and retirement.
John
John is a 35-year-old lawyer who invests 150 EUR every month in a life insurance policy with savings. His policy provides 50 000 EUR financial protection for his family in the case of his death, at the same time helping his legal practice to develop.
Age 45
John withdraws more than 19 000 EUR‌ close

Savings of 19 000 EUR calculated based on a 150 EUR monthly deposit, 50 000 EUR life insurance, and an annual yield of 5.4%.
from his policy’s savings to expand his legal practice and hire new employees.
Age 55
John dies of a heart attack. His family receives 50 000 EUR in life insurance payout, as well as an extra 16 480.40 EUR‌ close

Savings of 16 480 EUR calculated based on a 150 EUR monthly deposit, 50 000 EUR life insurance, and an annual yield of 5.4%.
in savings, ensuring his loved ones are supported in this difficult time.
John’s example shows how life insurance with savings can be a valuable financial instrument for freelancers. Over the years, John claimed his tax benefits, invested in the growth of his business, and provided financial support for his family after he passed.

Income tax refund calculator

10000
1000 EUR
120 000 EUR
At 3rd pension pillar:
In accumulative life insurance:
0 EUR
1000 EUR
Contributions to 3rd pension pillar and accumulative life insurance: as a % of annual income 8.00 %
Other possible contributions up to the maximum limit for receiving tax benefits: 200.00 EUR
Estimated tax refund for annual contributions
127.50 EUR
At 3rd pension pillar
76.50 EUR
In accumulative life insurance
In accordance with the Republic of Latvia’s Law On Personal Income Tax, you can receive an income tax rebate on payments not exceeding 10% of your annual taxable income, and on no more than 4000 EUR, as long as the insurance agreement term is for no less than 10 years.
Apply

How to get started? 

Start early and watch your wealth multiply over time. 

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Fill in the survey and find out the most suitable investment strategy for you.

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Determine your preferred contribution level.

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Get personalized advice from our financial experts to understand your options better.

Didn’t find the answer to your question?

Visit our interactive assistant and find the information you need

Interactive assistant
What is Life Insurance with capital accumulation in funds?

Life Insurance with capital accumulation in funds allows you to not only protect your loved ones, but also save for the future. A part of your contributions is invested in funds, which can increase your savings over time. You can use your savings for your own financial needs or leave it as an inheritance.

How much does Life Insurance with capital accumulation in funds cost?

The cost varies based on several factors: 

  • your age and health;
  • your chosen coverage amount;
  • your investment strategy and other factors. 

You can get a personalized offer by filling out our application form.

What investment strategies are available for Life insurance with capital accumulation in funds?

We offer four investment strategies that differ by risk level, allowing you to choose the most suitable option for your financial goals and risk tolerance.

More information Insurance with capital accumulation in funds | Citadele bank.

How does this insurance work?

  1. You pay your insurance premium.
  2. A part of this provides life insurance protection. 
  3. The rest is invested in funds, building savings.
  4. Over time, your savings grow depending on your chosen investment strategy and market results. 

You can find more about investment options and tax benefits here.

What tax benefits can I receive if I have Life Insurance with capital accumulation in funds?

When you save, you can receive an income tax refund of up to 25.5% of the amount you invest every year. 

Calculate what tax refund you could receive using our tax refund calculator here.

What happens if I terminate my policy early?

If you decide to terminate your policy early:

  • you will receive your saved capital minus the redemption fee;
  • you may be subject to tax payments, particularly if you terminate your policy within 10 years of receiving a tax refund.

Where can I find my policy?

You can find your policy in the online bank under Insurance → Policies.

How do I file a claim?

You can make an insurance claim online.

How is the value of my savings calculated?

The value of your savings is calculated based on:

  • your contributions;
  • the performance of your chosen investment strategy;
  • policy fees. 

You can see a full list of fees in our price list. 

Why choose this insurance?

  • Protect yourself and your family as long as you are making contributions. 
  • Build savings to help you reach your long-term financial goals.
  • Tax refund — you can regain up to 25.5% of the amount you invest every year. 

Calculate the tax refund you could receive using our tax refund calculator here.

Are there risks to investing?

Yes. Your money is invested in funds whose value can change depending on the market. Choose the most suitable of our four investment strategies and risk levels. More Insurance with capital accumulation in funds | Citadele bank.

How can I manage my policy?

Your policy is available in the online bank under Insurance. There, you can: 

  • make payments;
  • keep up with changes to your savings;
  • change your investment strategy;
  • update information about your beneficiaries.

What happens if I stop paying premiums?

If you stop paying premiums, we will cover the costs of the policy from your savings (if any). Once the savings have been used up, the policy will expire and you will lose your coverage.

What are the costs associated with Life Insurance with capital accumulation in funds?

  • Risk fee – for life insurance coverage (and any extra coverage, such as disability or injuries, if selected). 
  • Administration fee – policy maintenance and service charges.
  • Investment fee – for managing your money in investment funds. 

More information can be found in our price list.

Can I make changes to my policy?

Yes, you can make the following changes:

  • change your investment strategy;
  • update beneficiaries;
  • adjust your coverage amount;
  • add additional coverage.

You can make changes through the online bank or by contacting our customer service team.

What happens if the insurer becomes insolvent?

Your money is managed in accordance with legislation, and insurers are overseen by financial regulators, ensuring adherence to all legal and financial requirements. 

CBL Life works with a reinsurer, guaranteeing that the company remains financially stable and can fulfil its obligations even in times of high demand or unexpected events. CBL also maintains a robust solvency margin, which is regularly reviewed to ensure it can meet its obligations to policyholders even in challenging circumstances. 

Detailed information about the company’s financial health, including solvency reports, is publicly available here.

Can I switch my investment strategy?

Yes, you can switch your investment strategy up to four times per year free of charge.

More questions
What is Life Insurance with capital accumulation in funds?

Life Insurance with capital accumulation in funds allows you to not only protect your loved ones, but also save for the future. A part of your contributions is invested in funds, which can increase your savings over time. You can use your savings for your own financial needs or leave it as an inheritance.

How much does Life Insurance with capital accumulation in funds cost?

The cost varies based on several factors: 

  • your age and health;
  • your chosen coverage amount;
  • your investment strategy and other factors. 

You can get a personalized offer by filling out our application form.

What investment strategies are available for Life insurance with capital accumulation in funds?

We offer four investment strategies that differ by risk level, allowing you to choose the most suitable option for your financial goals and risk tolerance.

More information Insurance with capital accumulation in funds | Citadele bank.

How does this insurance work?

  1. You pay your insurance premium.
  2. A part of this provides life insurance protection. 
  3. The rest is invested in funds, building savings.
  4. Over time, your savings grow depending on your chosen investment strategy and market results. 

You can find more about investment options and tax benefits here.

More opportunities

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3rd pension pillar savings

Set up a regular payment, save time and grow your pension savings without even trying. Service provided by Citadele subsidiary AS CBL Atklātais pensiju fonds.
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Accident insurance

Choose accident insurance for yourself and your family and avoid sudden expenses after accidental injuries, disability or even death. Service provided by Citadele subsidiary AAS "CBL Life".
Find out more
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Investment funds

One of the most popular financial instruments, which offers the chance to maintain and even grow the value of your savings. Apply for a consultation and achieve your goals. Service provided by Citadele subsidiary CBL Asset Management.
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