Nordea MyLife | Sick pay and unemployment insurance

Secure your loan repayment

How would you manage your home loan repayments and your other regular expenses if you were left without work or fell ill?

Being insured will support you if faced with unemployment or a long sick leave while you have loans to repay. Having an insurance policy is all the more important if your family's loan repayments depend on your income only.
Unemployment cover and sick pay cover (temporary disability) are always granted together and attached to a secured loan from Nordea, such as a home loan.
You can choose a monthly indemnity of EUR 200–1 600, which will be available to you to pay your monthly loan repayments.
As a Nordea loan customer, you receive a minimum 15% ongoing discount. You will also get an additional 5% payment method discount, when you pay your insurance premium together with your loan instalment.
You’ll get a 10% raise to your insurance indemnity if you have an underage child at the time of the insured event.

Send us a contact request, and we will give you a recommendation for insurance cover suited to your needs.

Insurance indemnity

How much does an insurance policy cost?

Terms and conditions and product material (only in Finnish)

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

You can claim an insurance indemnity if you become unemployed for financial or production-related reasons or have to take sick leave due to an illness or accident, i.e. you are temporarily disabled.
A monthly indemnity is paid out from your insurance, which is EUR 200–1 600 according to your choice. The monthly indemnity is intended for paying your monthly loan servicing costs.
You’ll get a 10% raise to your insurance indemnity if you have an underage child at the time of the insured event.

How much does unemployment and sick pay insurance cost?

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

Submit a contact request to us, and we will call you and give you a recommendation for insurance that suits your current life situation.

Insurance-related customer bonuses

As a Nordea loan customer, you receive a minimum 15% ongoing discount. You will also get an additional 5% payment method discount, when you pay your insurance premium together with your loan instalment.

The insurance provider and product material

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, product description and additional information (material is in Finnish)

Critical illness cover, additional information

Nordea MyLife well-being benefit

Nordea MyLife well-being benefit terms

Insurance provider

Critical illness cover is issued by Nordea Insurance Finland Ltd (Business ID 2868440-8) through its agents Nordea Bank Abp and Kesko Corporation. The well-being benefit add-on is offered by Nordea Insurance 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. Taxation may change during the contract period.

Sick pay and unemployment insurance - FAQ

Why is it worth taking out sick pay and unemployment insurance?

The insurance allows you to service your loans even if your income drops suddenly due to a sickness absence or unemployment.

The insurance can be especially useful if

you have a big loan or
you are repaying the loan alone or
you are responsible for your family’s livelihood.

What does sick pay and unemployment insurance cover?

The insurance provides cover in case you

become unemployed for financial or production-related reasons at your employer or
are temporarily unemployed or have to take sick leave due to an illness or accident.

You can choose a monthly insurance benefit of EUR 200–1,600, which will be available to you to pay your monthly loan repayments.

Who is paid compensation from sick pay and unemployment insurance and how can the compensation be used?

The monthly insurance benefit is EUR 200–1,600, depending on your choice. The insurance benefit is paid to the insured and is available to be used for repaying the monthly servicing costs of loans. The insurance benefit is taxed as earned income.

If you have an underage child at the time of the insured event, you will receive a 10% raise to your insurance benefit.

Who can apply for sick pay and unemployment insurance?

You can apply for insurance if

you are aged 18–63 and live in Finland,
you have been continuously employed under an employment or service contract, served in a public office or conducted business activities for the past six months and continue to do so,
you are not aware of becoming unemployed or laid off, and
your insurance will be attached to a loan granted by Nordea.

How can I apply for sick pay and unemployment insurance?

You can apply for sick pay and unemployment insurance at the same time as you apply for a home loan, for example, from Nordea. You can also add the insurance to an existing loan.

Submit a contact request. (in Finnish)

Are you interested in personal insurances?

Submit a contact request. We will give you a recommendation for an insurance policy suited to your needs.

Submit a contact request (in Finnish)

Life insurance to secure the finances of your family

Unemployment and sick pay insurance

Secure your loan repayment

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