FAQ

How and where can I sign a Nordea unit-linked life insurance policy?: Contact your nearest Nordea branch office and complete an application for a Nordea unit-linked life insurance policy (please bring your personal identification documents).
What is the recommended term for a Nordea unit-linked life insurance policy?: If you want to gain maximum benefit of the personal income tax bonus, we recommend signing a Nordea unit-linked life insurance policy for a period of at least 10 years.
What factors affect the Nordea unit-linked life insurance premium?: The Nordea unit-linked life insurance premium depends on the age and sex of the insured party and the chosen life insurance amount.
When do I have to be examined by a doctor?: Medical examination is necessary when the life insurance amount is higher than LTL 150 000 or the client’s short health examination form has ‘no’ answers.
Who can be named as beneficiaries in case of death or recovery of the insured party?: You can name any natural or legal person (e.g. the bank) to be the beneficiary in case of death or recovery of the insured party, excep cases written in law. The policyholder and the insured must name the beneficiaries when signing a life insurance policy.
Where is my insurance coverage effective?: Nordea unit-linked life insurance coverage is effective worldwide, 24 hours a day.
How many investment funds may I select when signing a Nordea unit-linked life insurance policy?: There are no restrictions to the number of investment funds that may be chosen in a Nordea unit-linked life insurance policy.
Can I replace my insurance premium investment plan?: You can replace your insurance premium investment plan free of charge, six times per year.
Can I change the investment structure of my accumulated amount?: You can change the investment structure of your accumulated amount free of charge, six times per year.
Is it possible to change the beneficiary in case of death or recovery of the insured party during the effective term of the insurance policy?: During the effective term of the insurance policy, it is possible to change beneficiaries in both cases.
What does “flexible insurance premium payment system” mean?: According to the rules of Nordea unit-linked life insurance, you may select payments in a lump sum or instalments. If the insured party pays a smaller insurance premium or suspends his/her payment of insurance premiums, the insurance policy remains in force. If the insured party pays a higher insurance premium, the accumulated amount increases.
Is it possible to reclaim some accumulated funds without termination of the life insurance policy?: Yes. It is possible to reclaim some accumulated funds without termination of the life insurance policy. Contact your nearest Nordea branch office and complete an application to reclaim part of the accumulated funds.
What changes can be made during the effective term of a Nordea unit-linked life insurance policy?: During the effective term of a Nordea unit-linked life insurance policy the following changes may be applied: life insurance amount, insurance premium, premium payment term, beneficiaries in case of death or recovery of the insured party, investment plan and investment structure of the accumulated amount. Additional insurance coverage against permanent incapacity for work or permanent disability due to an accident may be added or omitted.
Who may benefit from the personal income tax bonus when paying life insurance premiums?: The personal income tax bonus can be used by every resident of the Republic of Lithuania if the life insurance policy is signed for at least 10 years and/or premiums are paid on behalf of the client, his/her spouse or a minor; provided that the policy includes provisions which state that the client, his/her spouse or a minor is the beneficiary when the insurance policy reaches maturity.
When and how do I submit declarations of premiums paid to the State Tax Inspectorate?: The State Tax Inspectorate should be notified about premiums paid in the previous year, no later than 1 May of the following year; and a personal income tax declaration should be completed.
What should I do when my Nordea unit-linked life insurance policy reaches maturity?: At the time of maturity of your Nordea unit-linked life insurance policy, you should contact your nearest Nordea branch office and complete an application for receipt of accumulated funds.

What should I do in case of an insured event? In case of an insured event, you should inform Nordea Life Assurance Finland Ltd “Lithuanian branch” within 30 days and indicate the insurer’s and insured party’s name and surname, personal code, and date and circumstances of the event. Information about the insured event may be provided as follows: at the nearest Nordea branch office in person, or by phone 1554, fax 8 5 236 27 86 or e-mail info.gyvybe@nordea.com.