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Critical illness cover

Even the healthiest of us could get seriously ill. The illness may turn your life upside down and force you to stop working for a while – so it could be a heavy financial blow, too.

Critical illness cover to protect yourself and your family's finances

Critical illness cover makes your everyday life easier when life changes dramatically. The insurance indemnity makes it possible for you to concentrate on getting well.

Why take out critical illness cover?

  • A long sick leave may cut your earnings by as much as half, so you may struggle to cope with daily expenses. The situation may be even more difficult if you manage your family’s finances alone or have an irregular income.
  • The insurance covers eight different illnesses or treatment measures. We will pay the tax-exempt indemnity to you right after the required diagnosis or treatment measure has been made. 
  • You can use the indemnity any way you like; for instance, for medical treatment costs or loan repayments. The indemnity could also enable you to return to working life without your income level dropping unreasonably.
  • You can choose whatever amount of indemnity you want. If you buy the insurance online, the indemnity can be 10 000–300 000 euros. 
  • You can increase your insurance cover by 15% or 25% by exercising. A unique benefit at Nordea only!
  • Act in time, as you won't be insured unless you have an insurance policy. If you have been diagnosed with an illness before you buy the insurance, it does not automatically stop you from getting the insurance as it is often possible to issue it with coverage limits. 

A chronic disease is a threat to your financial well-being

  • Every fifth working-age Finn falls ill with cancer, heart failure, coronary artery disease or stroke. 
  • 9 working days: This is how long the employer is liable to pay salary for the sickness period, in addition to the first day of illness. After this, you will only get sickness allowance paid by Kela, unless otherwise agreed in the collective agreement. For example, if your monthly income is 3,300 euros, Kela would pay you a sickness allowance of around 1,900 euros a month, and you would have to pay taxes, too. 
  • 38% of Finns say that critical illness is what they are most afraid of.

Source: Finnish Insurance Survey 2020 / Finance Finland and Kela

Insurance indemnity

What does the insurance indemnify and when is an indemnity paid?

  • An indemnity is paid for eight different illnesses or medical treatments: cancer, MS disease, heart failure, acute balloon angioplasty, coronary artery bypass, stroke, renal insufficiency and major organ transplant. 
  • We will pay the tax-exempt indemnity to you soon after the required diagnosis or treatment measure has been made. Up to 90% of claims will be paid out within 5 days of us receiving the completed claim form and the required appendices.
  • You can use the insurance indemnity in any way you like – on anything you find important during your convalescence. 
  • You can choose whatever amount of indemnity that best suits your needs. If you buy the insurance online, you can choose an indemnity between 10 000 and 300 000 euros. It is possible to change the indemnity, for example, if your circumstances change.
What does insurance cost?
Free additional benefit for your insurance
Terms and conditions and product material (only in Finnish)

What does the insurance indemnify and when is an indemnity paid?

  • An indemnity is paid for eight different illnesses or medical treatments: cancer, MS disease, heart failure, acute balloon angioplasty, coronary artery bypass, stroke, renal insufficiency and major organ transplant. 
  • We will pay the tax-exempt indemnity to you soon after the required diagnosis or treatment measure has been made. Up to 90% of claims will be paid out within 5 days of us receiving the completed claim form and the required appendices.
  • You can use the insurance indemnity in any way you like – on anything you find important during your convalescence. 
  • You can choose whatever amount of indemnity that best suits your needs. If you buy the insurance online, you can choose an indemnity between 10 000 and 300 000 euros. It is possible to change the indemnity, for example, if your circumstances change.

What does critical illness cover cost?

The price of the insurance policy is determined individually and it depends on your age and the indemnity you have chosen. The use of tobacco products affects the insurance premium. 

Customer benefits for insurance policies

As a Nordea Premium or Private Banking Customer you get a continuous 20% discount on insurance. You can see the discount in the insurance calculator after you have verified your identity. 

Raise your insurance cover by 15–25% with physical exercise

Nordea personal insurance is the only insurance in Finland that rewards you for being physically active – you take exercise and we reward you with a better insurance cover.

  • Half an hour of brisk physical exercise a day will raise your insurance cover by 15%. 
  • One hour of brisk physical exercise a day will bring you a 25% raise to your insurance cover.

This free-of-charge benefit is included in your MyLife insurance policy. Read more about the well-being benefit.

Nordea MyLife insurance terms and product material (only in Finnish)

Additional information

Nordea MyLife well-being benefit

You may apply for Nordea MyLife personal insurance if you are aged 18–63 and reside permanently in Finland. The price of a personal insurance policy is determined individually, and the pricing criteria are your age, the total amount of the insurance cover you have chosen and smoking in the case of cover against serious illness.

Nordea MyLife insurance as well as all product material and customer service related to Nordea MyLife is offered only in Finnish or Swedish. The contractual language used is either Finnish or Swedish, and the purpose of the information provided on this website is only to give a general overview of Nordea MyLife. Critical illness cover, permanent disability cover as well as unemployment and temporary disability (sick pay) cover are issued by Nordea Insurance Finland Ltd (Business ID 2868440-8). Life insurance, i.e. death cover, is issued by Nordea Life Assurance Finland Ltd (Business ID 0927072-8). The additional MyLife well-being benefit is offered by Nordea Life Assurance Finland Ltd or Nordea Insurance Finland Ltd. Nordea Life Assurance Finland Ltd and Nordea Insurance Finland Ltd sell Nordea MyLife through their agent Nordea Bank Abp. The detailed indemnification criteria and indemnification restrictions related to the different kinds of cover are stated in the insurance terms and conditions and in the product description specifying their meaning. The general limitations on indemnity are laid down in the Finnish Insurance Contracts Act. The operations of Nordea Life Assurance Finland Ltd and Nordea Insurance Finland Ltd are supervised by the Finnish Financial Supervisory Authority, www.finanssivalvonta.fi. Tax information complies with the situation as on 15 June 2021. Taxation may change during the contract period.

The well-being benefit is provided in co-operation with Benify Ab.

Critical illness cover - FAQ

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