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.
Choose Nordea MyLife to get a test-winning insurance policy! In September 2022, Kuluttaja magazine examined the terms and conditions and prices of various loan protection insurance policies offered by Finnish banks. The products were divided into non-comprehensive and comprehensive insurance policies that were scored separately. Nordea MyLife won both categories and was praised for its affordable pricing and flexible terms and conditions.
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?
Fill in your contact information (in Finnish) and we'll call you. If you have purchased your life insurance online, it is not possible to link it to a home loan.