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  1. Private customers
  2. Borrower’s life insurance

BORROWER’S LIFE INSURANCE

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


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Apply for a consultation Claim online

Service provided by Citadele subsidiary AAS "CBL Life".

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Paying off your loans

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

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Option to insure additional persons

Add accident insurance additionally.

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Tax rebate

Claim back 20 %* on your income tax if choose life insurance with savings.

why insure borrower

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

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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

Repay your loan faster

In order to cover your loan commitments faster or to save for some other purpose, you can choose borrower's life insurance with savings, in which case you will be able to receive a personal income tax refund for the savings made and insurance premium payments of 20 % of the amount every year*.


Apply for a consultation
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Income tax rebate calculator

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
100.00 EUR
At 3rd pension pillar
60.00 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.
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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 could happen if I don't pay my insurance premiums or if I pay them late?

If you do not pay your insurance premium on time, your insurance coverage may be suspended. If an insured event occurs during the suspended period, the insurer will not be obligated to pay compensation.
If premiums remain unpaid and insurance coverage is suspended for more than six months, then the insurer may unilaterally terminate the insurance contract. The insurer must inform the policyholder in writing that if the premium or part thereof is not paid within 30 days from the receipt of the notification, insurance coverage will be suspended and will be renewed only after the policyholder has paid the premium or part thereof.

What happens to the insurance contract if the policyholder or beneficiary dies?

According to the insurance contract and its rules, the insurance contract expires upon the death of the policyholder. Unless the beneficiary dies, if the insured or other person does not assume the obligation to pay further insurance premiums, part of the insurance disbursement, according to the written request of the policyholder approved by the insurance undertaking, will be allocated to the beneficiaries.

Who is the insurer?

The insurance company CBL Life (AAS “CBL Life”, reg. No. 40003786859, legal address: Republikas laukums 2A, Riga, Latvia, LV-1010) is a subsidiary of IPAS “CBL Asset Management,” a company of the Citadele Group, which provides life insurance services to retail and corporate clients.

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

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

What is the cost of borrower’s life insurance?

The insurance premium amount is calculated individually for each customer, taking into account the size of the loan, the age of the insured person, any health conditions, and any additional insurance coverage.

More questions
What could happen if I don't pay my insurance premiums or if I pay them late?

If you do not pay your insurance premium on time, your insurance coverage may be suspended. If an insured event occurs during the suspended period, the insurer will not be obligated to pay compensation.
If premiums remain unpaid and insurance coverage is suspended for more than six months, then the insurer may unilaterally terminate the insurance contract. The insurer must inform the policyholder in writing that if the premium or part thereof is not paid within 30 days from the receipt of the notification, insurance coverage will be suspended and will be renewed only after the policyholder has paid the premium or part thereof.

What happens to the insurance contract if the policyholder or beneficiary dies?

According to the insurance contract and its rules, the insurance contract expires upon the death of the policyholder. Unless the beneficiary dies, if the insured or other person does not assume the obligation to pay further insurance premiums, part of the insurance disbursement, according to the written request of the policyholder approved by the insurance undertaking, will be allocated to the beneficiaries.

Who is the insurer?

The insurance company CBL Life (AAS “CBL Life”, reg. No. 40003786859, legal address: Republikas laukums 2A, Riga, Latvia, LV-1010) is a subsidiary of IPAS “CBL Asset Management,” a company of the Citadele Group, which provides life insurance services to retail and corporate clients.

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

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

What is the cost of borrower’s life insurance?

The insurance premium amount is calculated individually for each customer, taking into account the size of the loan, the age of the insured person, any health conditions, and any additional insurance coverage.

More opportunities

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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".
Learn more
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Accumulative life insurance

Use the opportunity to invest part of the paid insurance premiums and create savings, for example, for children's education. Apply and receive an annual income tax rebate of up to 20 %. Service provided by Citadele subsidiary AAS CBL LIfe.
Learn 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.
Learn more

* 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.