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.

Secure your living if your income decreases permanently

As a result of permanent disability, your income level may remain low for good and coping with your daily expenses may become challenging.

Why take out cover against permanent disability?

  • 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. 
  • You can choose the amount of the indemnity. When bought online, the amount may be EUR 10 000 –300 000. 
  • You can raise the amount by 15–25% with physical exercise. Unique benefit from Nordea only! 
  • You can use our insurance calculatorOpens new window to obtain a recommendation for the most suitable insurance for you. You can change the indemnity amount and take out additional cover against a critical illness or death, for example.

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
Terms and conditions and product material (only in Finnish)

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.Opens new window

Insurance-related customer bonuses

As a Nordea Premium Customer or Private Banking Customer, you are entitled to a continuous 20% discount on the list price of any insurance. The discount is shown in the insurance calculator after you have authenticated 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.