FAQ

About NN

  • Who is NN?

    NN Insurance Belgium (NN) is a solid insurance company that is part of a strong international group: NN Group. We have 1.4 million customers in Belgium. The roots of NN go all the way back to De Vaderlandsche, and in recent times, ING. Delta Lloyd has also recently become a part of NN.

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  • Is NN a financially sound company? Has the solvency ratio of NN increased since the merger?

    With a Solvency 2 ratio of 199% (figure fourth quarter 2017), NN is twice better capitalised than what the supervising authority prescribes. With that, NN is among the most credit-worthy of European insurance companies. The expected drop due to the take-over of Delta Lloyd has already been accounted for in this figure. This shows that the purchase of Delta Lloyd can easily be absorbed by the balance sheet of NN. Thanks to the benefits of working together, we expect to grow to become a strong and stable player on the insurance market.

  • Why is NN taking Delta Lloyd over? What are the benefits?

    The management of NN Group considered Delta Lloyd Life a complimentary partner, and decided to make a public offer on the shares of Delta Lloyd Life in 2016. The majority of the shareholders accepted and a merger process was begun which will be fully completed on 30 March 2018.

    Customers of Delta Lloyd Life are, from now on, customers of NN, a very stable insurance company. As a combined company, we are the number four life insurance company in Belgium. The combination of NN and Delta Lloyd Life creates a strong and highly diversified player in the areas of retirement, life and non-life insurance.

    The merger makes us a more effective and efficient company and enables us to better respond to societal and technological changes. With our expertise and scale, we can further improve our products and services. The purpose is to offer even more customer-oriented and innovative products.

Consequences of the merger

  • Will anything change in my investment funds?

    Delta Lloyd Life and NN (via ING) are currently working with separate investment funds for their products. We do not intend to link the funds of Delta Lloyd Life with the products of ING and vice versa in the short term.

    What will change, is the name of the funds of Delta Lloyd Life. For example: 'Delta Lloyd Life Ethna Aktiv Fund' will from now on be known as 'NN Ethna Aktiv Fund'. The name of the funds of NN that are linked to the products of ING will not change. For example: ING Future Life 2035.

  • I have a comparable savings and investment product with Delta Lloyd Life and NN, such as a retirement savings plan, for example. Will these automatically be combined?

    No, the products that currently exist independently, will remain separate products. If anything were to change in the future, we will always let you know with plenty of time in advance.

  • I do not wish to become a customer of NN. How can I buy out my policy?

    The right of commutation is a personal right of the insured. This right can always be exercised, except when there is an accepting beneficiary or with a transfer of all rights / pledges.

    Please note! There are almost always costs associated with a commutation.

    • You pay a withholding tax on non-fiscal contracts during the first 8 years.
    • With fiscal long-term savings, you will be taxed if you withdraw before you are 60 years of age.
    • There are commutation costs on all products during the last 5 years of the contract.
    • You will lose your high interest rates on old contracts.
    • Under certain conditions, and only with fiscal pension savings, a transfer without tax is possible.
  • Will I lose the guaranteed return on my insurance policies?

    No, the current terms and conditions of every contract remain valid.

  • I am waiting for a payment or settlement of a (claim) file. Should I worry about a delay because of the merger?

    No, our services will remain fully operational and we will do our very best to process your file within the promised time frame.

  • Will all the bank account numbers stay the same and will my payments continue as usual?

    Yes, our bank account numbers will remain the same and all automatic payments will continue as usual.

  • I was already an NN customer. Can I also contact an independent broker from now on?

    If you are insured with NN via ING or Deutsche Bank, then nothing changes in practice. Your contract(s) and general terms and conditions remain the same. The contact information of our customer service also remains the same: telecel-life@nn.be and +32 (0)2 407 70 00. For a new insurance, you can still always go to the website or a branch of ING or Deutsche Bank.

    On the website of NN (www.nn.be) , you will now find NN products that were formerly sold under the Delta Lloyd Life brand name. On www.nn.be, you will also find the addresses and independent brokers in your area.

  • As a Delta Lloyd Life customer, can I still go to my current broker?

    All contact persons remain the same. If you have any questions, please address them to your trusted intermediary.

  • Is my estimate still valid?

    It is no problem at all that the Delta Lloyd Life logo is on your estimate. Your estimate is also valid for NN until the date on the estimate.

  • Will NN send me a new contract (General Terms and Conditions), or can I download it somewhere?

    No, all current contracts remain valid, even though the NN logo is not on them. No new version can be downloaded.

  • Will this merger have consequences for my policy in concrete terms?

    No, your products, rates and general terms and conditions do not change. You will see the NN logo on all new documents. The documents that you have at home, with the Delta Lloyd Life logo on them, will continue to be perfectly valid.

  • Why did I receive this letter? I am not a customer of Delta Lloyd Life or NN (any more).

    Recently terminated your contract?
    If you have recently terminated your contract(s) with Delta Lloyd or NN, it is possible that our administration still regards you as a customer. If this is the case, please ignore our letter.

    Insured via a predecessor of Delta Lloyd Life?
    Have you received a letter with the Delta Lloyd logo at the top? Delta Lloyd Life has, in the past, taken over a number of insurance companies. You are a customer of ours if you have a contract (or are the beneficiary) of:
    AG Suisse - CGU Life - Cofitex Insurance
    Condor - De Nationale Insurance - GAN
    Norwich Union - Ohra Leven - Swiss Life Belgium
    ZA Insurance - Zelia

    Have you received a letter with the NN logo at the top?
    Then perhaps you have concluded a contract via ING or Deutsche Bank, Bank Nagelmackers or Aquilae. Or if you have been designated as beneficiary in a contract with one of our distributors.

  • When am I an accepting beneficiary and what rights does that give me?

    As beneficiary of a life insurance policy, you are entitled to the payment of a capital at the end of a contract providing the contractual conditions are met.
    You can accept a beneficiary by way of a rider in the insurance contract, which is signed by the policyholder whom you have designated as beneficiary as well as yourself and the insurer.

    The policyholder cannot reverse the beneficiary component without your consent.
    Without your consent, the policyholder can only:

    • designate an additional beneficiary in the event that you die prematurely
    • stop the premium payments
    • change the purpose of the reserve or premiums (with Branch 23)

Guarantee fund Branch 21

  • From now on, I am insured for over EUR 100,000 with NN. Can I switch to another type of insurance to stay under this limit?

    There is no point in transferring your insured capital from one Branche 21 / Tak 21 product to another considering that the guarantee of the Guarantee fund applies to the sum of all your Branche 21 / Tak 21 capital. See which NN products fall under the protection of the Guarantee fund here.

  • I have savings deposits at ING and an insurance contract with Delta Lloyd Life or NN. What are the consequences?

    Your savings deposits at ING do not count towards the EUR 100,000 protective cover of the Guarantee fund at NN. At ING, you have a separate protective cover of also up to EUR 100,000.

  • My partner and I are both customers of NN. Do we together then have a limit of EUR 200,000?

    The protective cover applies individually, up to EUR 100,000 per person and per organisation. For example, if you have EUR 130,000 in assets with NN, you will then not be able to compensate your coverage via a partner who has, for example, only EUR 60,000 in assets.

  • What is the Guarantee fund for financial services?

    The Guarantee fund guarantees the reimbursement of a maximum amount of EUR 100,000 in assets per person, per life insurance company, regardless of the number of accounts. The Guarantee fund goes into effect when the life insurance company can no longer meet its obligations, due to a bankruptcy, for example. It applies to all banks and insurance companies established in Belgium.

    More information about the Guarantee fund