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Unemployment and sick pay insurance

Unemployment or a prolonged sick leave is a stressful time, even without any financial troubles. Being insured helps you in securing your monthly loan payments even if your income fell temporarily.

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Secure your loan repayment

  • 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. 
  • Even if social security in Finland is among the highest in the world, your income may drop drastically if you fall ill or are left without employment. If unemployed, you cannot maintain your usual standard of living with the earnings-related daily allowance alone. 
  • 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.
  • 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. 

Nordea MyLife wins Kuluttaja magazine’s test

Kuluttaja testivoitto

Nordea MyLife emerged as the winner of Kuluttaja magazine’s test in which different loan protection insurance policies were compared in September 2022. The 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.

Read more about the test in Kuluttaja magazine in Finnish(some of the content is available to subscribers only)

Nordea MyLife personal insurance can be tailored to your needs. It’s available as loan protection insurance or without the loan connection.

Insurance indemnity

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 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 Premium Customer or Private Banking Customer, you are entitled to a continuous 20% discount on the list price of any insurance.

The issuer of MyLife insurance and product material (only in Finnish)

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 (in Finnish)

Nordea MyLife well-being benefit

Critical illness cover is issued by Nordea Insurance Finland Ltd (Business ID 2868440-8) either through its agent Nordea Bank Abp or its own sales channel. 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 Insurance Finland Ltd are supervised by the Finnish Financial Supervisory Authority, www.finanssivalvonta.fi. The well-being benefit is provided in co-operation with Benify Ab.

Sick pay and unemployment insurance - FAQ

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)

Personal customers

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