Life insurance

• The indemnity from your life insurance will be paid as one-off compensation to the beneficiary designated by you if you pass away due to an illness or accident. You can also choose a person other than a next-of-kin as the beneficiary of the indemnity – in principle, anyone.
• Up to 90% of claims will be paid out within 5 days of us receiving the completed claim form and the required appendices.
• If your life insurance is linked to a loan, the insurance compensation will primarily be used to pay off the loan. If the loan amount is lower than the life insurance compensation, the rest of the compensation will be paid to the beneficiary you have designated.

Additional benefits from your life insurance – up to 50% higher compensation amount

• MyLife life insurance comes with an 25% increase to the compensation paid in the event of death. For example, if your cover is currently EUR 100,000, it will be EUR 125,000 after the increase.
• When you add our free well-being benefit to your insurance, you can increase your insurance cover by an extra 15–25% by exercising actively.

In other words, you have a chance to get a 50% higher life insurance cover, free of charge.

The examples above use the highest level of the well-being benefit, which is the active exerciser level and entitles you to a 25% increase to the insurance cover. Under the well-being benefit, the increase to the compensation amount can be either 0%, 15% or 25% during the validity of the insurance, depending on how actively you exercise.

The maximum amount for the increase to the insurance cover is EUR 100,000 in total when the additional compensation from the death cover and the well-being benefit are added up. The additional benefit of the death cover is confirmed annually.

The price of a life insurance policy is customer-specific and based on your age and the amount of indemnity you have chosen.

Ongoing discounts

• 15% ongoing discount, if you have home loan, student loan or other secured loan with us
• As our loan customer, you can also get a 15% an additional 5% payment method discount, if you choose to pay your insurance premium together with your loan instalment. The payment method discount does not apply to student loans.
• 10% ongoing discount for all other Nordea personal customers
• If you are not a Nordea customer, you can get the K-Plussa customer 10% discount by connecting your Plussa card to the insurance policy

If you are entitled to a discount, this will be applied once you continue to the insurance application from the calculator. 

Limited-time offer until 30 November 2026 – further details

• The limited-time offer applies to new Nordea MyLife life insurance and critical illness insurance policies purchased either online or via Nordea’s service network. 
• Campaign period: 22 September – 30 November 2026
• Discount: 50% 
• Discount valid for: 6 months
• Other discounts offered to Nordea’s customers are also valid during the campaign period. The customer discount is deducted from your insurance premium first, after which the limited-time offer is applied.
• The campaign discount does not apply to any surcharge added to your insurance price due to your state of health. The discount is calculated based on the insurance price before any such surcharge is included.
• You don’t need to bank with Nordea to take out the insurance policy and enjoy the limited-time offer.
• You won’t get the limited-time offer if you terminate a corresponding insurance policy with Nordea and take out another one.

Insurance policies will be issued in compliance with Nordea Insurance’s and Nordea Life Insurance’s customer and risk management guidelines. You can find more detailed definitions of the illnesses covered and the requirements for receiving a benefit in the insurance terms and conditions. 

Read insurance terms and conditions (pdf 106 KB, in Finnish)

Read product description (pdf 666 KB, in Finnish)

See how much life insurance would cost you. The limited-time offer and any customer discount will show in the insurance calculator after you have logged in.

You can get a Nordea MyLife insurance linked to a home loan. This means that your life insurance compensation is pledged for a loan, and if an insured event takes place, the compensation will primarily be used to pay off the loan.

Why should life insurance be linked to a loan?

• Your life insurance compensation can help your family repay part of the loan or the full loan amount, depending on the compensation amount. This will protect your family's finances in a difficult situation and help them keep the family home.
• When your life insurance is pledged for a loan, the share of the insurance compensation used for the loan repayments is tax-exempt.
• If the life insurance compensation is larger than the outstanding loan balance, the rest of your life insurance compensation will be paid to the beneficiary of your choice. If the beneficiary is a next-of-kin, the compensation is taxed in connection with inheritance taxation.
• When your life insurance is pledged for a loan, the premiums are paid conveniently in connection with loan repayments, so you won't need to deal with separate invoices.
• You can link your life insurance to either an existing or a new home loan. 

Interested in linking your life insurance to your home loan?

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.  

Terms and conditions and product description (in Finnish)

• Nordea MyLife insurance terms and conditions (pdf 106 KB)
• Nordea MyLife insurance product description (pdf 666 KB)

Nordea MyLife well-being benefit

• Rules of Nordea MyLife well-being benefit (pdf 170 KB)

Life insurance i.e. death cover is issued by Nordea Life Assurance Finland Ltd. (Business ID 0927072-8) through its agent Nordea Bank Abp. The well-being benefit add-on is offered by Nordea Life Assurance Finland Ltd. The Nordea MyLife app is provided in cooperation with Wellmo (Mobile Wellness Solutions MWS Ltd). 

The detailed criteria for claims and the insurance benefit 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 claims are laid down in the Finnish Insurance Contracts Act. The operations of Nordea Insurance Finland Ltd are supervised by the Finnish Financial Supervisory Authority, www.finanssivalvonta.fi.