Nordea Visio endowment insurance as well as all product material and customer service related to Nordea Visio endowment insurance 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 Visio endowment insurance.
Nordea Vision endowment insurance
Nordea Vision endowment insurance is a flexible solution for long-term saving and investing. It is particularly well-suited to estate planning and transfers of wealth to close relatives.
Why endowment insurance?
- Access a wide range of investments, such as investment funds, investment baskets and investment bonds, with one agreement.
- You can transfer your cash to a low-risk insurance account when the markets are volatile or while you consider where to invest next.
- The potential return on the investments is not taxed in connection with any reallocation of investments and you do not need to report the changes to the tax authorities. The return is only taxed when you withdraw your money or the agreement expires.
- You can distribute your wealth any way you want without a separate will.
- You can make additional investments and withdraw funds from the policy during the validity period, if necessary.
- You can invest large sums at a time or save regularly.
The minimum investment in Nordea Vision as a one-off payment is EUR 10,000, and the recommended saving period is at least 5 years.
Inheritance cover protects against stock market crashes
You can add the Inheritance Cover feature for your Nordea Vision endowment insurance to protect your invested capital in the event of death.
With Inheritance Cover, the indemnification to your beneficiary will at least equal the premiums paid into the insurance, from which possible surrenders have been deducted, regardless of the performance of your invested savings. You only have to pay for the cover if the amount of your savings is less than the amount of capital you have invested in the agreement. If your savings’ performance is positive, the Inheritance Cover feature is free of charge.
With Inheritance Cover, you can invest in one of the following investment baskets: Yield Basket, Allocation Fixed Income, Allocation Moderate or Allocation Moderate Global.
Inheritance Cover can only be added to a new Nordea Vision agreement.
You can choose the investment instruments from Nordea’s extensive selection based on your investment target, your risk tolerance and level of activity.
For example, you can select from Nordea’s funds and investment bonds, as well as from Nordea Life Assurance’s investment baskets, which you can only invest in through Nordea Life Assurance’s products. Investment baskets are not investment funds but investment instruments determined by the insurance company. They are subject to separate rules and the money invested in these baskets is reinvested in other investment instruments such as investment funds, equities, government bonds and corporate bonds.
Information about taxation
- The investments which determine the performance of an endowment insurance can be switched without any taxation on capital gains.
- You don’t need to report any changes to your investments under the insurance to the tax authorities.
- In the event of death, the indemnity paid to the next of kin is taxed in connection with inheritance taxation. A death benefit payable to other persons than close relatives is considered taxable capital income in full.
Tax information is in accordance with the situation on 1 January 2020.
Valid as of 1 September 2020Applied to insurance policies valid as of 1 September 2015
An annual management fee of 0.40% is charged on insurance savings of up to EUR 100,000, the management fee exceeding this amount being 0.1%.
The insurance company is entitled to raise the management fee to a maximum of 1% of the insurance savings.
In addition to the management fee, you will be charged fees for the investment funds, investment baskets and other investment instruments in accordance with their rules.
|Fees for the life insurance (Inheritance Cover feature)||The fee for Nordea Vision Inheritance Cover is charged from the savings in order to maintain the life insurance cover.|
|Change of investment plan|
A change of investment plan refers to a change in the allocation of upcoming payments across the available investment instruments.
|Switching savings from one instrument to another|
|Confirmation of pledging||EUR 50|
|Extra account statement||EUR 10|
|Withdrawal fee||A withdrawal fee of 1% will be charged on the amount withdrawn when less than 3 years have passed from the start date of the agreement. The withdrawal fee is not charged on the amount that exceeds the cumulative withdrawal amount of EUR 100,000.|
|Changes to charges||The insurance company is entitled to increase all euro-denominated charges in accordance with a change in the cost-of-living index.|
The minimum amount for investment is EUR 50.