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Sunday 19.11.2017 | Name days: Liza, Līze, Elizabete, Betija
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SEB: reimbursements paid to nearly 340 loan clients over the past five years

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn five years since the signing of the first loan payment insurance contract, reimbursements have been paid to nearly 240 SEB Bank clients who took loans and experienced unexpected difficulties after.

The number of contracts signed this year has grown to reach six thousand over the course of the past several years. The total insurance amount now exceeds EUR 160 million. The most often reason for the payment of reimbursement – transitive inability to work, notes SEB Bank.

«Insurance of loan payments has become an important part of the lending process – it is chosen by two out of three loan clients. Insurance of loan payments covers the risk of loan taker losing their life, as well as the risk of inability to work so that the surviving family members do not lose their only home,» says SEB Bank Life Insurance manager Kristine Lomanovska.

Continuing, he says: «Considering that taking on loan commitments is one of the most responsible decisions in the life of every person, it is important for us to provide clients advise and services to ensure additional guarantees.»

90% of clients decide to insure against risks associated with diseases, loss of ability to work and death. Over the course of the past three years, the average loan and average monthly reimbursement sizes remain largely unchanged – EUR 26,000 and EUR 9 respectively.

Over the course of the past five years, since SEB Bank Life Insurance started offering clients loan payment insurance, reimbursements have been paid to nearly 240 clients.

82% of paid reimbursements were associated with inability to work or death. 18% were associated with forced unemployment. The most often reasons for transitive unemployment are injuries and illnesses.

Reimbursements associated with death, when all loan commitments are covered as a result, have been paid five times in Latvia these past five years. 42 loan takers have experienced forced unemployment these past five years.

Ref: 225.109.109.4109


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