OREANDA-NEWS.  January 28, 2014. Last year, SEB Elu- ja pensionikindlustus paid its customers over EUR 700 000 in indemnities for 500 insured events.

Loss event statistics continue to be led by temporary incapacity for work resulting from a domestic or sports related trauma, or from a work or traffic accident. Indemnities in approximately 60 per cent of all the fatal loss events were provided directly to the lender, to offset the loan of the deceased or a part thereof.

“In practice, at the moment about 80 per cent of those taking out new home loans take out life insurance or insurance for severe health impairment, incapacity for work or loss of employment. In 60 per cent of the fatal loss events, we disbursed the insurance indemnity directly to the lender, who would discharge the customer’s loan debt in part or in full after the insured event, that is, the borrower’s death. An increasing proportion of the indemnities paid by SEB Elu- ja pensionikindlustus is made up of amounts paid out to customers to assist them after loss events, which may include loss of employment, deterioration of health or decrease in income, so that they can settle their debt obligations whilst holding on to homes for their families,” said Indrek Holst, Chairman of the Management Board at SEB Elu- ja Pensionikindlustus.

Last year, the insurance company declined to provide indemnities in 27 loss events, either because they were not accidents or because the accident had happened before the insurance contract took effect.

SEB’s loss event statistics clearly indicate a higher incidence of risky behaviour amongst men. In 2013, 72 per cent of accidents involved men. Of fatal loss events, 61 per cent involved men, with the average age being 52 for men and 58 for women in the event of a fatality. According to SEB’s loss event statistics, the main cause of death in Estonia is malignant tumours.