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Life Insurance

Take care of tomorrow, enjoy today.

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Financial security for your family

Live with the assurance that your family will be able to cover their daily expenses.

A more secure family future

Take care of your family’s future after you’re gone.

A reliable partner

Entrust your care to a business with many years of experience.

Service provided by AAS CBL Life, a Citadele Group company.

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What is life insurance?

Live with a peaceful mind and don’t worry about how your family will cope financially when you are no longer around. Your family will have the opportunity to use insurance compensation to overcome various financial difficulties.

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When should I consider life insurance?

Significant life changes are the most frequent reason for considering life insurance. In our experience, the most frequent reasons are taking on a mortgage, starting a family, becoming a carer for a family member, and a change in job, among others.

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Types of life insurance


  • Your family will be able to use the insurance payout to cover daily expenses.
  • The insured risk remains the same throughout the insured period.
  • The amount you pay for insurance depends on your age and the insured risk amount.
  • In case of death, the insurance payout will be paid to the beneficiaries named in your insurance contract.
  • You are protected as long as your insurance contract is valid.
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  • The insurance payout will be used to repay your mortgage loan or other loans.
  • The amount of insurance coverage is decreasing.
  • The amount you pay for insurance depends on your age and the insured risk amount and the amount you put into savings if you have chosen this option.
  • The lender is the beneficiary in case of death.
  • You are protected as long as your insurance contract is valid.
Apply for a consultation
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  • When you insure your life, you can also build savings towards your future goals.
  • The insured risk remains the same throughout the insured period.
  • The amount you pay for insurance depends on the insured risk amount and the amount you put towards your savings.
  • In case of death, the insurance payout will be paid to the beneficiaries named in your insurance contract.
  • You are protected as long as your insurance contract is valid.
Apply for a consultation Learn more
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Didn’t find the answer to your question?

Visit our interactive assistant and find the information you need

Interactive assistant
What is personal life insurance, and how does it work?

Personal life insurance is financial protection for your family if anything unexpected happens to you. If you pass away, your loved ones can receive a one-time insurance payout. This can help cover everyday expenses, repay loans or ensure financial stability for the future. 
In addition, you can also choose accident insurance, which provides compensation in the event of injury or damage. In this way, insurance provides additional protection and helps in unexpected situations. 
Personal life insurance is particularly important for those whose family members are financially dependent on them, as well as those with long-term financial obligations, like a mortgage.
 

What should I do if an insured incident occurs?

If you have accident insurance and an accident occurs:

  1. As soon as possible, but no later than within 24 hours, visit a doctor, receive medical help, and comply with the doctor’s instructions.
  2. Inform the insurer.
  3. Submit a request for compensation.

You can apply for compensation here.
 
Important! You should submit medical documentation confirming the accident and injuries.
 

How much should I insure my life for?

The coverage amount depends on your personal financial situation, including: 

  • Outstanding loans (such as your mortgage, car loan or consumer loan).
  • Your income level and the financial protection needs of your family.

We recommend choosing coverage that totals at least two years’ gross income. This will help enure financial stability after the death of the insured person. 

The minimum coverage amount is 1500 EUR. 

To calculate an exact coverage amount, apply for  a free consultation here.
 

Can I change the terms of my personal life insurance?

Yes, you can make changes to your policy at any time.

  • Increase or reduce your coverage amount or policy term.
  • Add additional coverage, for example, accident insurance.
  • Change or add beneficiaries.
  • Cancel the policy before term.

To make changes, submit a free-form application through the online bank or signed electronically to life@cbl.lv. Include the changes you wish to make and your policy number.
 

What happens if I miss a personal life insurance payment?

If subsequent insurance premiums are not paid on time or in their full amount, CBL Life will inform you of the amount you need to pay and set a payment deadline.
If the payment is not made by the deadline, your insurance agreement will be cancelled and insurance coverage will no longer be in force. 

What documents do I need to submit to receive compensation?

 If the insured person has died:

  • A filled-in application form. You can fill it in here.
  • A copy of your passport or ID card.
  • A copy of the insured person’s death certificate.
  • The inheritance certificate (if the application is submitted by an heir).

Important. Compensation can be requested by the beneficiary (indicated in the insurance policy) or legal heirs.

If there has been an accident or injury:

  • A filled-in application form. You can fill it in here.
  • Documents issued by a medical institution which confirm the accident and describe the injuries (for example, broken bones or other health problems).
     

When does my personal life insurance coverage come into force?

Personal life insurance coverage comes into force on the date specified in your policy. 
If payment of your first premium is not made within 15 days, the policy is cancelled on the date specified as the starting date. 

Can I cancel my personal life insurance agreement before it expires?

Yes, you can cancel your agreement at any time.
To do this, submit a free-form letter through the online bank or signed electronically to life@cbl.lv.
If you have already paid your premium for the period after cancelling your agreement, we will refund this sum within 15 days. 

How do I apply for personal life insurance?

Get in contact with our consultants. They will help you choose an insurance policy which best matches your needs and financial situation.
You can apply here.
 

Where can I see my personal life insurance policy?

 Your policy is always available in the online bank under Insurance → Policies.

How often do I have to pay my personal life insurance premiums?

You can choose the most convenient payment schedule for you: monthly, quarterly, every six months or annually.

Who can take out a life insurance policy?

To sign a personal life insurance agreement, you must be: 

  • Aged between 18 and 69.
  • A Citadele customer.

More questions
What is personal life insurance, and how does it work?

Personal life insurance is financial protection for your family if anything unexpected happens to you. If you pass away, your loved ones can receive a one-time insurance payout. This can help cover everyday expenses, repay loans or ensure financial stability for the future. 
In addition, you can also choose accident insurance, which provides compensation in the event of injury or damage. In this way, insurance provides additional protection and helps in unexpected situations. 
Personal life insurance is particularly important for those whose family members are financially dependent on them, as well as those with long-term financial obligations, like a mortgage.
 

What should I do if an insured incident occurs?

If you have accident insurance and an accident occurs:

  1. As soon as possible, but no later than within 24 hours, visit a doctor, receive medical help, and comply with the doctor’s instructions.
  2. Inform the insurer.
  3. Submit a request for compensation.

You can apply for compensation here.
 
Important! You should submit medical documentation confirming the accident and injuries.
 

How much should I insure my life for?

The coverage amount depends on your personal financial situation, including: 

  • Outstanding loans (such as your mortgage, car loan or consumer loan).
  • Your income level and the financial protection needs of your family.

We recommend choosing coverage that totals at least two years’ gross income. This will help enure financial stability after the death of the insured person. 

The minimum coverage amount is 1500 EUR. 

To calculate an exact coverage amount, apply for  a free consultation here.
 

Can I change the terms of my personal life insurance?

Yes, you can make changes to your policy at any time.

  • Increase or reduce your coverage amount or policy term.
  • Add additional coverage, for example, accident insurance.
  • Change or add beneficiaries.
  • Cancel the policy before term.

To make changes, submit a free-form application through the online bank or signed electronically to life@cbl.lv. Include the changes you wish to make and your policy number.
 

What happens if I miss a personal life insurance payment?

If subsequent insurance premiums are not paid on time or in their full amount, CBL Life will inform you of the amount you need to pay and set a payment deadline.
If the payment is not made by the deadline, your insurance agreement will be cancelled and insurance coverage will no longer be in force. 

What documents do I need to submit to receive compensation?

 If the insured person has died:

  • A filled-in application form. You can fill it in here.
  • A copy of your passport or ID card.
  • A copy of the insured person’s death certificate.
  • The inheritance certificate (if the application is submitted by an heir).

Important. Compensation can be requested by the beneficiary (indicated in the insurance policy) or legal heirs.

If there has been an accident or injury:

  • A filled-in application form. You can fill it in here.
  • Documents issued by a medical institution which confirm the accident and describe the injuries (for example, broken bones or other health problems).
     

When does my personal life insurance coverage come into force?

Personal life insurance coverage comes into force on the date specified in your policy. 
If payment of your first premium is not made within 15 days, the policy is cancelled on the date specified as the starting date. 

Can I cancel my personal life insurance agreement before it expires?

Yes, you can cancel your agreement at any time.
To do this, submit a free-form letter through the online bank or signed electronically to life@cbl.lv.
If you have already paid your premium for the period after cancelling your agreement, we will refund this sum within 15 days. 

How do I apply for personal life insurance?

Get in contact with our consultants. They will help you choose an insurance policy which best matches your needs and financial situation.
You can apply here.
 

Where can I see my personal life insurance policy?

 Your policy is always available in the online bank under Insurance → Policies.

How often do I have to pay my personal life insurance premiums?

You can choose the most convenient payment schedule for you: monthly, quarterly, every six months or annually.

Who can take out a life insurance policy?

To sign a personal life insurance agreement, you must be: 

  • Aged between 18 and 69.
  • A Citadele customer.

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* 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. At the same time, the Policyholder, the Insured, the Beneficiary at the end of the term and the payer must be the same person.

If you wish to link your savings to investment funds, as well as when saving additional pension capital, remember that investments may result in a loss or reduced savings as well as profit. Please bear in mind that historic profitability does not guarantee similar results in the future. This information is general, is not adapted for your goals and cannot be viewed as an investment consultation.

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