Savings Life Assurance

Life assurance with savings of capital provides for two simultaneous functions:

insurance of life risk;
creation of savings.

In brief – that is a savings programme providing a solution for insurance protection and financial security of your employees. Policies that your company can choose for its employees are very diverse, depending on the objective of savings, type of payments, and principle of savings accumulation. By the date of payment of insurance you are still the policyholder, therefore you can define your own conditions on whether is an employee entitled to keep the policy when leaving a company, and you can use policy as additional motivation for employees.

Minimum period for life assurance contract that allows your company to use tax benefits is 5 years. We can help you to evaluate and choose kind of policy, to define terms and conditions of policy, to do the paperwork. For example, you can define various policy periods for various groups of employees – from 5 years to the pension age, thus expressing your appreciation for their dedication in the form of pension insurance. We are ready help you make choice of the best insurance for your situation and to show, how this insurance, regardless of high inflation, is still more beneficial and efficient than salary increase.

Along with you we will:

Perform wide risk analysis of your employees;
Develop insurance programme considering the structure of company, length of service of employees, age and nature of work;
Perform financial planning regarding tax benefits and refinancing options.

We will evaluate offers of Latvian and European insurers and you will receive detailed recommendations:

On how to effectively expand your remuneration system to receive more benefits than form identical salary increase;

Which groups of employees should receive life assurance with savings account;
How to present benefits of this insurance to your employees in the best manner, so that they would feel this being in their interests, thus improving also your reputation as employer;
On how to decrease costs concerned with replacement of employees

You can always reach us to get advice on:

Most advantageous period of insurance and size of insurance premium;
The best kind of savings (guaranteed, unit linked, etc.), strategy of premium payments and periods of payments;
The best strategy to prevent employee leaving;
Efficient management of other changes (economic situation, changes of cash flow, amendments of tax legislation);
Expanded offer of life assurance products with other available saving options, for example, involvement in private pension funds;
Payment conditions of sum insured.

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