Life insurance — Mandatum Life

Life insurance

Life insurance

Statutory benefits are usually not sufficient to secure the future of your loved ones in case something bad happens. That is why it is important for you to supplement your benefits with voluntary life insurance. Life insurance is a small investment in peace of mind that also covers your loved ones. You can take out life insurance for yourself or joint cover for you and your significant other.

 

If life lasted forever, we would not have to deal with the question of how our family would survive if were not there to take care of them. In reality, the death of one of the family’s providers can put the family’s financial situation in serious jeopardy. By insuring yourself, you are also safeguarding your family.

Life insurance helps your loved ones to make it through the worst financially. Statutory benefits are usually not sufficient to secure the future of your loved ones in case something bad happens. This is why it is important for you to supplement your statutory cover through life insurance.

Conclude a life insurance, if:

  • You have a loan or other financial obligations
  • You have children
  • Your family´s financial success depends also on your income

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1

How much should the life insurance benefit be?

The amount of the life insurance benefit is based on needs, in accordance with your life situation. A rule of thumb is that the insured sum should cover the amount of your loans, two years’ worth of lost earnings and EUR 20,000 for each child living in the household.

2

How is the life insurance benefit paid?

The agreed life insurance benefit is paid as a lump sum to the next of kin or to other designated beneficiaries. The benefit payable upon death does not reduce any statutory compensation that may be paid to your family. You can choose between a fixed or degressive benefit.

3

When to conclude life insurance?

It is useful to conclude a contract with the maximum protection and period (up to the age of 70) from a young age, because the circumstances that increase the risk over time don´t change the amount of the insurance premium.

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