Entrepreneur’s Nordea MyLife personal insurance

• A personal insurance policy gives you and your family an extra layer of protection supplementing the statutory minimum. It can also provide business partners with additional protection as part of their shareholder agreement.
• You can supplement your insurance with a critical illness cover, a permanent disability cover and a death cover. With us, you can select your insurance cover flexibly based on your needs: take out a single cover or opt for a wider protection.
• Critical illness cover secures your income when you have to focus on getting well. You can use the tax-exempt compensation the way you prefer.
• With a life insurance policy, you can ensure that your family and your business will be financially secure even if the worst happens to you. As an extra benefit, you’ll get a 25% higher claim amount to your life insurance policy free of charge.  

• You are eligible to apply for MyLife insurance if you are aged 18–63 and reside permanently in Finland.

Examples are provided below of the types of insurance cover we recommend for entrepreneurs and the insurance prices. Please note that the price of a personal insurance policy is determined individually, and the pricing criteria are your age, the total amount of the insurance cover and smoking in the case of critical illness cover.

As a rule, entrepreneurs’ personal insurance premiums are deductible in the company’s taxation.

Send us a contact request, and we will make you an offer on insurance cover tailored to your life situation and your company’s needs.

1. The statutory cover is often not sufficient

Do you know the amount of your statutory cover in case of critical illness or permanent disability, for example? For instance, the sick allowance paid by Kela is determined on the basis of the YEL income for the preceding 12 month, and people who fall ill are often surprised at how small the allowance is.

2. Nobody is immortal

Every year, over 10,000 Finns in their prime working age die from a disease or as a result of an accident. Although the probability of dying prematurely is relatively small, it is always a shock for the family and its finances as well as for the entrepreneur’s business when it does happen. When your financial liabilities are the highest and you have a family and a home loan besides your business, it is wise to prepare yourself by taking out a life insurance policy.

As an extra benefit, you'll now get a 25% higher claim amount to your life insurance policy free of charge. 

3. Act in time – you won't be insured financially unless you have an insurance policy

You should take out a personal insurance policy right now – not tomorrow. In fact, a good rule of thumb in personal insurance is “the sooner, the better”. Getting insured is too late when an unfortunate event has already occurred.

Physical exercise contributes to personal well-being and health. Daily exercise has positive effects on both the mind and the body and has been proven to make people remain healthier for longer. Even a small increase in your daily physical exercise prevents illnesses and keeps the brain alert.

In addition to improving your fitness and well-being, being physically active can also increase your insurance cover. With increased daily exercise, clients who have taken out Nordea MyLife personal insurance are able to raise their insurance cover by up to 25%.