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Insurance conditions

Borrow up to 15000 kroons

Borrow up to 90000 Kroons

Borrowup to 150000 Kroons

Borrow more than 150000 Kroons

In case of a safety loan, the insurance covers your loan payments in case of undesired unemployment, temporary incapacity for work and death.

Insurance

  • In case of undesired unemployment or temporary incapacity for work, ERGO Kindlustuse AS shall compensate your loan payments in the extent of 12 months per one insured event
  • In case of several insured events, the maximum period of compensating loan payments is 24 months in total
  • In case of death, the insurance shall fully cover the outstanding loan balance unpaid by the moment of death
  • The insurance period depends on the maturity of the credit receiver's loan contract, but the insurance shall not cover a longer period than 60 months. The insurance does not cover the first 60 days of unemployment or incapacity for work


Validity of the insurance cover

  • The credit receiver has to be 18-55 years old
  • The credit receiver has to be a resident of Estonia, Latvia, Lithuania or Finland
  • The credit receiver has worked by the same employer on the basis of an employment contract for at least 4 months, 20 hours per week, before concluding the loan contract
  • Permanent incapacity for work has not been designated to the credit receiver
  • The loan contract has been concluded with an annuity schedule, where a larger payment of the principal amount has not been left to the end
  • For loan amounts up to EUR 6,000
  • The state has not made pension payments to the credit receiver during the loan period

On the occurrence of an insured event, loss adjustment is carried out by ERGO Kindlustuse AS. For that necessary documents should be sent to ERGO Kindlustus via e-mail laenukindlustus@ergo.ee or taken to the ERGO Claims Department at A. H. Tammsaare street 118c, 12917 Tallinn

 

Necessary documents on the occurrence of an insured event

  • Compensation application
  • A certificate proving registration as unemployed or incapacity for work
  • In case of unemployment, a document proving the termination of the employment contract
  • In case of death, a medical death certificate and a death certificate issued by the local government
  • A more specific list of necessary documents has been brought out in the insurance conditions

You can download detailed valid insurance conditions as a pdf-file from here