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Endowment Policy
Life insurance + Savings = Stability and Safety
Norvik Banka, in cooperation with the Latvian branch of Compensa Life Vienna Insurance Group SE, offers a farsighted solution for your financial stability and safety – the endowment policy. This policy is life insurance combined with making savings for future plans or unforeseen life situations.
The essence of the endowment policy is as follows: a part of your regular payments under the insurance certificate creates savings which earn interest. The savings have a fixed interest rate which is known at the moment of concluding the agreement and specified in the certificate.
More information on the product „Endowment policy” and the possibilities ensured by it is retrievable on the website of our business partner Compensa Life.
For more information on the terms of the offer please call the bank’s inquiries phone number 67041100 or write to welcome@norvik.eu.
You can formalise the endowment policy at any Norvik Banka’s customer service centre.
Having applied for the insurance, you:
  • make savings for sustainable and stable everyday life;
  • take care of your and relatives’ financial stability in the future;
  • take care of your old age;
  • create a „safety cushion” for possible unforeseen major shifts in life.
The endowment policy covers:
  • life insurance in the amount and on the due date specified in the agreement;
  • accumulation of money with guaranteed profitability or a possibility to choose making savings in the investment funds, while choosing those funds which are the most appropriate for your risk level;
  • a schedule of contributions for making savings that suits you best;
  • a possibility to track constantly the process of making your savings;
  • a possibility to retrieve from the state a personal income tax (20%) for the contributions made, which do not exceed 10% of gross salary payments in the respective calendar year.