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Permanent disability cover

Permanent disability may mean that your income level will fall permanently to even half of what it used to be. Permanent disability cover secures your income if you are not able to return to working life due to an illness or accident.

Calculate the price for the cover (in Finnish)

Secure your living if your income decreases permanently

  • Permanent disability cover will help you compensate for your lost income. You are entitled to one-off indemnity for the permanent loss of your ability to work due to an illness or accident. 
  • The additional cover is especially important when your family’s livelihood depends on your income, if you have children or if you manage your finances alone. 

  • Acquiring an insurance policy is easy. You can manage the process from beginning to end online.

  • You can choose the amount of the indemnity. When bought online, the amount may be EUR 10 000 –300 000. 

  • You may apply for permanent disability insurance if you are aged 18–63 and reside permanently in Finland. 

Did you know?

  • If you become disabled, your income may fall permanently to even half of what it used to be. 
  • When your income level drops, your old-age pension amount also decreases. 
  • In 2018, the average disability pension was approximately 35% of the average monthly salary in Finland.
Insurance indemnity

To whom is indemnity paid and what can it be used for?

  • Tax-exempt one-off compensation will be paid for permanent loss of ability to work caused by an illness or accident. 
  • Disability is permanent if you are not able to return to your former work due to an illness or injury and you cannot be rehabilitated or trained for any new job or occupation. Verification of permanent disability is usually preceded by an uninterrupted period of disability for at least one year. Disability is assessed by an earnings-related pension company on the basis of a medical report. 
  • You can use the indemnity the way you prefer, for rearranging your life or for your daily expenses, for example.
  • You can choose the maximum amount indemnified freely; the minimum amount is EUR 10 000. When bought online, the amount may be EUR 10 000–300 000.
How much does an insurance policy cost?
Free additional benefit for your insurance
The issuer of insurance and product material

To whom is indemnity paid and what can it be used for?

  • Tax-exempt one-off compensation will be paid for permanent loss of ability to work caused by an illness or accident. 
  • Disability is permanent if you are not able to return to your former work due to an illness or injury and you cannot be rehabilitated or trained for any new job or occupation. Verification of permanent disability is usually preceded by an uninterrupted period of disability for at least one year. Disability is assessed by an earnings-related pension company on the basis of a medical report. 
  • You can use the indemnity the way you prefer, for rearranging your life or for your daily expenses, for example.
  • You can choose the maximum amount indemnified freely; the minimum amount is EUR 10 000. When bought online, the amount may be EUR 10 000–300 000.

How much does permanent disability cover cost?

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

Check our recommendation for a policy suited to your needs and calculate the price with our insurance calculator.

Insurance-related customer bonuses

  • As our home loan customer, you get a 15% discount on a new MyLife insurance policy. 
  • As a Premium Customer or Private Banking Customer, you get a 20% discount.

The discount is shown 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.

Permanent disability cover - FAQ

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