Term life insurance coverage:
The potential payout (the insured amount) is determined at the start of the policy. This can be a fixed amount, but you can also choose to have the amount you receive decrease over time. This type of insurance is taken out in combination with a mortgage that you repay, for example, an annuity mortgage or a linear mortgage. The insured amount then decreases in line with the mortgage debt.
Health and Declarations:
Before an insurer accepts a new ORV policy, they may ask for a health declaration. Sometimes this is a limited standard list from the Dutch Association of Insurers. From a certain insured amount*, they may ask for more or even require a medical examination. This is also possible from a certain age (e.g., 50 or 55), or if your declaration shows a certain BMI value. Your health can therefore be a sticking point for a new insurance policy. Therefore, never simply cancel your existing ORV policy before a new insurer has approved your application.
Costs of term life insurance
The costs of term life insurance depend on:
- the insured amount
- constant or periodically decreasing benefit
- your age
- your health at the time of taking out the policy
- whether you are a smoker or a non-smoker
Saving on your (existing) life insurance premiums:
Premiums for term life insurance have fallen significantly in recent years. Research shows that 80% of policyholders can save on their premiums. These savings can amount to thousands of euros. Furthermore, there are significant differences in risk premiums between insurers . We are transparent about this: you can compare premiums yourself. This can result in significant savings.
Let us advise you on suitable life insurance, even if you already have such insurance.
