Lyfery CEO Mihkel Mandre appeared live on Tre Radio to discuss life insurance in general, why it’s necessary, and how Lyfery stands out from competitors in the market.

Why is life insurance important, and who needs it?

Lyfery is the first life insurance provider in Estonia that prioritizes your health behavior. This means that everyone has the opportunity to influence the cost of their life insurance premium. While we don’t expect or require you to be in perfect health, there are simple actions you can take to save money—significantly so over the years.

“The life insurance market and industry are crucial, quite complex, and highly impactful,” said Lyfery CEO Mihkel Mandre during his live interview on Tre Radio. He emphasized the value of the founders’ decades of expertise in life insurance. “At some point, we realized things could be done better: solutions that are more impactful, innovative, and different. That’s what inspired us to act.”

Who needs life insurance?

Life insurance is primarily necessary for individuals with children or those responsible for someone else. This responsibility often includes mortgages. Typically, it’s relevant for people who are not entirely financially independent—this includes the majority of society. Simply put, anyone whose obligations outweigh their assets to some extent could benefit from the financial security life insurance provides. Currently, there are approximately 150,000 active life insurance policies in Estonia.

What does life insurance provide, and when are payouts made?

Payouts are generally made in serious situations such as death or permanent disability. The average coverage amount with Lyfery is €150,000, which helps, for example, to pay off loans and provide financial security for a family while they reorganize their lives.

How broad is the life insurance market in Estonia?

The life insurance market in Estonia is relatively small, with limited competition and a concentrated structure. The largest market share belongs to banks and their associated insurance agreements.

Currently, premiums for life insurance policies are relatively high, and competition is scarce—this is where we see opportunities for innovation.

“At Lyfery, we consider a person’s health behavior, allowing them to significantly benefit from lower premiums,” Mandre explained. “A health-oriented lifestyle and self-care obviously benefit the individual, not just their wallet. We all know that a ‘healthy lifestyle’ is good for us, but this is rarely factored into products and services. This is where Lyfery stands out. Moreover, our approach is scientific—we collaborate with top experts in the field, including Estonia’s only preventive medicine specialist.”

Additionally, Lyfery’s claims and payouts are handled by their insurance partner, Compensa Life Insurance, providing clients with peace of mind.

What are the average monthly premiums?

Pricing generally depends on the client’s age and the desired coverage amount. At Lyfery, the average monthly premium for life insurance is €25.

Lyfery offers two primary types of coverage. Most important is protection against significant risks—these are rare but highly impactful events (payouts in the event of death or permanent disability). Payouts are made relatively quickly, usually within a few weeks.

Where does the name Lyfery come from?

The name Lyfery is derived from the English word “life.” It embodies ideas of amplifying, prioritizing, and improving life.

Where can you find more information about Lyfery?

All information, including a premium calculator, is available on our website www.lyfery.com. If the solutions suit you, you can easily sign a contract digitally in just a few minutes. Start by verifying your identity, selecting the appropriate options, and completing the forms—it’s straightforward.

Listen to the full interview on the Tre Radio website!