Life insurance

Effective since 01.06.2024

Life Insurance

Life insurance	Savings Life Insurance	Borrower’s Life Insurance	Personal Life and Accident Insurance
Service	Fee
Contract costs (from the first insurance premium)	free of charge	free of charge	free of charge
Commission for contract administration incl. payments prescribed by the laws and regulations of the Republic of Latvia (from each insurance premium)¹	3.5% to 99 EUR, 2.5% from 100 EUR to 249 EUR, 2% from 250 EUR to 9 999 EUR, 1% from 10 000 EUR	0.164%	included in the insurance payment
Payment to Fund for the Protection of the Insured (from each insurance premium)	-	0%	-
Fee for administration of the amount of the savings (from the amount of the savings)	1%, min. 2 EUR / USD per calendar month	0.75%	-
Extension of the duration of the contract	free of charge	free of charge	free of charge
Change of beneficiary	free of charge	free of charge	free of charge
Change of insurance amount	free of charge	free of charge	free of charge
Change of Investment Plan
- IPAS „CBL Asset Management” Funds²	4 times a year free of charge	-	-
- In other cases of change of investment plans	1%	-	-
Contract currency change (from the amount of the savings)	1%; min. 10 EUR / USD	-	free of charge
Fee for issuing a duplicate policy	free of charge	free of charge	-
Fee for early termination of the contract or payment of part of the savings (from the amount of the savings)
- in the first and second year of insurance	1%; min. 20 EUR / USD	1%; min. 20 EUR / USD	-
- in the third and subsequent years of insurance	0%	0%	-
Minimum payout amount when making a partial payment of the savings	1 000 EUR / USD	1 000 EUR / USD	-
Guaranteed interest rate for the savings³	From 19.07.2019 is not offered for new contracts	0%	-
Payment for life and accident insurance	Calculated individually for each insured person
Limitations
Minimum amount of life insurance	-	In the amount of existing credit liabilities, min. 1500 EUR / USD	1500 EUR / USD
Minimum amount of accident insurance
- death in the result of an accident	-	1500 EUR / USD	1500 EUR / USD
- permanent disability	-	1500 EUR / USD	1500 EUR / USD
- bone fractures⁴	-	1500 EUR / USD	1500 EUR / USD

¹ During campaign which is in force from 01.10.2024 until 28.02.2025 and is valid for all new and extended Accumulative life insurance contracts concluded or extended in the mentioned period, commission from each paid premiums is 1%, which is in force throughout the entire duration of the contract.
² Including change of the AS „Citadele banka” „Krājkonts +” investment plan.
³ The guaranteed interest rate is fixed for the first five years of the contract. Starting with the sixth year of the contract and every five years thereafter, a new guaranteed interest rate shall be set for the next five-year period.
⁴ Bone and fracture risk can only be insured together with the disability risk. The sum insured for bone and fracture risk may not exceed ½ of the disability risk insurance.