Loan repayment insurance

Loan repayment insurance will pay your repayments should you experience a decrease in income due to job loss or a medical issue. That’ll let you focus on the essential, such as searching for a new job or making a recovery to full health.

Basically, loan repayment insurance will give you peace of mind if:

you lose your job unexpectedly due to a reason beyond your control
you lose your job because your employer terminated a fixed-term employment contract prematurely
you lose your job due to a health issue
you are unable to work because you incur temporary disability lasting more than 30 days (including sick leave and leave for caring for a child up to 18 years old)

Important information

Loan repayment insurance is intended to let you fulfil your loan obligations. Under this insurance coverage, we will compensate your loan obligations for one insured event for a maximum of 12 months. The deductible period is 30 days, which means that you will start receiving compensation on the 31st day.

Job loss

Insurance covers a case where your employer terminates your employment contract unexpectedly (such as due to a layoff) or terminates a fixed-term employment contract prematurely. You are also covered if you are unable to work due to a deterioration in your health.

Job loss protection becomes active 90 days after you entered into the insurance contract (waiting period).

To qualify as an insured event, the employment relationship that ended must be at least 0.5-full-time equivalent, employment under a permanent contract or fixed-term employment that has lasted at least 13 months.

The starting date of the insured event is considered to be the day on which the employer registered you with the Estonian Unemployment Insurance Fund.

Temporary incapacity for work

The insurance covers an illness or injury suffered by you or your child up to the age of 18 and lasting more than 30 days which prevents you from continuing working.

The starting date of the insured event is considered to be the day on which you went on sick leave or on leave for caring for your child.