NN Hypo care

NN Hypo care

Owning your own house or apartment is a milestone in its own right. You take out a mortgage and start paying off an amount each month with your partner. But what happens if your partner dies before your mortgage has been repaid in full? Hypo care debt insurance could help you to avoid financial problems and your mortgage will then be settled partially or in full.

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Debt balance insurance tailored to your needs

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Possible to spread premiums flexibly

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Protection in the event of illness with optinal “Cancer Care” cover

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You yourself choose the percentage of the debt balance cover

How does the NN Hypo Care outstanding balance insurance work?

Choose how you pay your premium

You can spread the premiums how you want. Either pay the full premium in one go, or spread it over the term of your mortgage. Monthly, quarterly or annually.

Option Cancer Care

Ability to add the Cancer Care option. If someone in your family is diagnosed with cancer, then you will be paid a specific amount. You decide yourself what you spend it on.

Immediate cover for accidental death

You benefit from cover for accidental death as soon as you make your application. This applies even if your application takes a while to be accepted. You are covered for the initially insured capital, with a maximum of 500,000 euro. This temporary ‘accidental death’ cover ends in accordance with the terms of the “provisional accidental death cover”.

Free pre-insurance

Placing your signature on a deed of sale commits you to the purchase. This means that having death cover in place is definitely of value in this instance. Because completion of the sale will not take place for two, three or even – in the worst case – four months and you have no idea when the exact date will be. So, what happens if you or your partner dies in the meantime?
Thanks to our pre-insurance cover, you can bridge the period of three months between signing the deed of sale and completion of the contract, free of charge, to the value of the initially insured capital, with a maximum of 500,000 euro.

Objective

Hypo Care is a Branch 21 death cover insurance policy. The term of the policy is a minimum of 5 years and a maximum of 40 years

The Hypo Care policy is linked to a loan and the aim is for it to repay the loan in full or in part in the event of the insured person dying early.

For more details, see the Financial Information Sheet

 

Who is it for?

Hypo Care is aimed at natural persons and legal entities. At the time of taking out the policy, the person insured must be between the ages of 18 and 67 and want to be insured against the financial consequences of death. This policy is always linked to a mortgage loan.

If the policy is for a natural person, the minimum age on taking out the policy is 18.

Who is it not for?

This product is not suitable for natural persons and legal entities wishing to insure themselves against the financial consequences of a death when there is a link with a mortgage loan. Or when they want to cover themselves against the financial consequences of receiving a direct personal gift ('handgift') or a gift received via a bank transfer between accounts ('bankgift'), more specifically against inheritance tax for their surviving dependants following their death. 

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BENEFITS
  • You are covered worldwide for all causes of death: illness, accident or sudden death, such as a stroke or heart attack.
     
  • Capital insured
    • The amount is constant or falls and cannot be increased
    • Minimum amount at start: 25,000 euro
    • Maximum amount at start: 999,999 euro

If your insurable capital is greater than 1 million euro, then you should contact your broker.

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RISKS
  • Certain risks are not covered
    For the main insurance, these include: suicide during the first year after taking out the policy, deliberate act and act of war.
    This summary is not complete. Please read the General terms and conditions for a full summary of all the risks excluded.
    A number of exclusions also apply for Supplementary Disability Cover (AVRI). You will find a detailed list in the Supplementary general terms and conditions.

Your broker will be happy to help you with any questions you may have about this product. You can also ask your broker for a price quote and a premium calculation.

Find a broker near you.

Tax matters

You can benefit from tax deductibility of the premiums via:

  • Pension savings
  • Long-term savings
  • IPC (Individual Pension Commitment)
  • Your own home only

Or you can take out a policy without tax deductibility

These rules apply in accordance with current tax legislation and are subject to change in the future. 
In the event of changes to the tax rules, NN Insurance Belgium nv cannot be held liable for the consequences. 
Tax treatment depends on the individual situation of the customer and may change in the future. 
Wherever reference is made to a tax system or regime, this needs to be understood as the tax system or regime that applies to an average retail customer living in Belgium in the capacity of a natural person (private individual).

Options and plans

Option for work disability

If you select this option and you become unable to work during the term of the policy, then you will receive a monthly benefit on a temporary basis. That way you can continue to pay the monthly instalments.

However a waiting period applies before your payment:

  • The policy must have been in place for 6 months
  • An own risk period applies: you are entitled to the payment once you have been unable to work for 3 months. This period can already begin during the 6-month waiting period
  • You will receive the outpayment for a maximum of 24 months per claim
  • How much you receive depends on the percentage of work disability. The payment is multiplied by the percentage:
    • Less than or equal to 25% equals 0%
    • More than or equal to 66% equals 100%

You cannot take the work disability option if it is a loan with constant monthly instalments, if you took the ‘Two Heads’ option or if you are more than 67 years of age.

Option for Cancer Care

Cancer Care is an additional cover in the NN Hypo care debt balance insurance policy. If you or someone in your family is diagnosed with cancer, you will be paid a pre-defined amount.

  • You yourself decide how you spend the money
  • Possible with 1 or 2 main insured persons
  • Children are automatically insured as well

Conditions and details

PURPOSE

To protect your family against the financial consequences of either you or your children being diagnosed with cancer.1

INSURED RISK

Life-threatening cancers, including leukaemia, malignant lymphoma, Hodgkin's lymphoma, malignant bone marrow cancers and sarcomas.

The cancer must be diagnosed by a medical expert based on cell and tissue analysis. An oncologist must then draw up a histopathological report.2

INSURED AMOUNT

Depends on the monthly repayment for the mortgage loan.

Amounts

up to EUR 50,000 for the main policyholder

half of the amount for the main policyholder for the joint policy holders

PERSONAL RISK PERIOD

This lasts 6 months. In other words, the insurance policy will not cover a diagnosis of cancer during the first six months from signature of the agreement.

UPPER AGE LIMIT

Cancer Care insures you against cancer until you reach the age of 70.

END OF COVER

For all (joint) policyholders: when the outstanding balance insurance expires

For a joint policyholder: once they turn 18 and reach the age of majority

The supplementary Cancer Care cover can be cancelled free of charge at any time without terminating the Hypo Care(+) cover.

MEDICAL ACCEPTANCE

The same conditions apply as for your main cover, Hypo Care(+)

Are you aged 50 or less? And is your insured capital no more than EUR 300,000? Then all you need to do is fill in a simplified medical questionnaire.

In all other cases you can find more information in our overview of segmentation criteria and in the Financial Information Sheet.

PREMIUMS

The amount of the premium depends on factors such as:

  • your age when the policy is taken out
  • whether or not you smoke
  • Payment frequency
  • monthly: only via direct debit
  • annual: via direct debit or transfer

Don't delay – ask your broker for a quotation in order to find out your exact premium, adjusted to your personal situation.

TAX STATUS

The cover follows the same approach as your main cover, Hypo Care(+).

Option for Hypo care +: free preventative health examination

If you opt for Hypo care +, you may have preventative blood and urine tests carried out free of charge every 3 years. That way you can monitor your health and discover possible medical problems in good time.

  • You choose the lab yourself
  • We do not need to know the results

There are various plans for paying the premiums

  • Optimal (standard): we optimise the period of the premium payments.
  • Relax: this unique plan enables you to spread the premium over the whole term of your mortgage. You then pay a lower premium on an annual basis. You also receive a minimum insured capital lump sum, meaning you are better covered.
    NB: Relax does not fit into the ‘only and own home’ tax system.
  • Budget: set the premium payment to the annual premium you want to pay.
  • Classic: you pay the premium for 2/3 of the term of the policy.

Possible payment types for the premium:

  • Purchase price: you pay the full premium in one go
  • Fixed premium: you spread the payment over time; the premium is constant
  • Risk premiums: the premium changes with your age

In terms of payment frequency, you can opt to make monthly payments by direct debit, or annually by direct debit or transfer.

Are you 50 years old or younger? And is your capital insured at least 300,000 euro? Then you will be able to fill in a simplified medical questionnaire.

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Important documents

It is necessary to read the following documents before purchasing, subscribing, accepting, signing or opening an NN Hypo care contract;

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General Brochure Death Insurance
 

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 Financial information sheet Care 
 

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Financial information sheet Hypo Care + 

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General terms and conditions Hypo Care
 

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General terms and conditions Hypo Care +
 

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Supplementary general terms and conditions for work disability Hypo Care / Hypo Care + cover

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Supplementary general terms and conditions for Cancer care

Legal information

  • Hypo care is a Branch 21 death insurance policy. It is a product from NN Insurance Belgium, a company incorporated under Belgian law.
  • Term of your policy: minimum 5 years and maximum 40 years
  • Type of financial product: Branch 21 (not a savings product)
  • Applicable law: Belgian law

If you have a complaint about your NN policy, please contact NN, Quality Team, 38 Fonsnylaan, 1060 Brussels. Send an e-mail in the first instance to klachten@nn.be. Or contact the Consumer Ombudsman Service at the Insurance Ombudsman, 35 de Meeûssquare, 1000 Brussels. Tel: +32(0)2 547 58 71, fax: +32(0)2 547 59 75, info@ombudsman.as, www.ombudsman.as. It is also possible at all times to take legal action.

Your unique life deserves a personal approach. That is why we are happy to help you find an independent broker in your area