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 spread your premiums however you like. Pay all in 1 go or spread them over the duration of your mortgage loan. Monthly or annually.

Option Cancer Care

It is possible to include the Cancer Care option. If someone in your family is diagnosed with cancer, you will receive a certain amount. You decide what you spend it on yourself.

Immediate cover for accidental death

If your application is delayed, you will be covered for accidental death.  You are covered for the initially insured capital (with a maximum of EUR 500,000).
This agreement ends after 1 month, or upon acceptance or refusal by the company. (For further information, refer to the general conditions "provisional coverage")

Free pre-insurance

Signing a compromise commits you to purchase. Thus, term life cover is useful even then. Because the contract by deed only expires after two, three or in the worst case four months. And you have no idea of the exact date. What if you or your partner dies in the meantime?
Thanks to our pre-insurance, you can bridge a period of three months between the compromise and the contract by deed free of charge, in the amount of the capital initially insured, up to a maximum of EUR 500,000.

Objective

Hypo Care & Hypo care + are Branch 21 term life insurances. The duration of the contract is for a minimum of 5 years and a maximum of 40 years.

The Hypo Care is linked to a loan and is intended to repay all or part of the balance of the loan in the event of the premature death of the insured person.

More details: in the Financial Fact Sheet

 

Who is it for?

Hypo Care & Hypo care + are targeted at natural and legal persons, whereby the insured is between 18 and 67 years of age when the contract is taken out, who want to insure themselves against the financial consequences of death.
This insurance is always linked to a mortgage loan.
If the policyholder is a natural person, the minimum age on taking out the insurance is 18 years.

Also intended for people with an increased risk (Partyka).

Read more about the Segmentation Policy of NN Insurance Belgium for individual life insurances here.

Who is it not for?

This product is not suitable for natural and legal persons who wish to insure themselves against the financial consequences of death when there is no link with a mortgage loan. Or when someone wants to insure him- or herself against the financial consequences - whether or not via unregistered gifts -, specifically with regard to inheritance tax - for their next of kin as a result of their death.

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BENEFITS

What is insured and what is not?

You are covered worldwide for all causes of death: from illness, an accident or sudden death such as a stroke or heart attack.

  • Insured capital
  • Is constant or falling 
  • At the start must be at least EUR 25,000
  • The maximum at the start is EUR 2,499,999
  • immediate cover for accidental death (Provisional cover)
  • Free pre-insurance
  • Option : Cancer Care

Is your insured capital higher? Then 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 the conclusion of the contract, intentional act and act of war.
This list is not exhaustive. Refer to the  General terms and conditions for an overview of all excluded risks.
A large number of exclusions also apply to the supplementary Invalidity cover (AVRI). A detailed list can be found in the Supplementary general terms and conditions.

Your broker will be happy to help you with all your questions about this product. He or she can also provide you with a quotation and a premium calculation.

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Tax matters

The premiums are tax deductible via:

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

Or you can take out insurance without the possibility of tax deductibility

These rules apply on the grounds of current tax legislation and are subject to change in the future. 
If the tax rules change, NN Insurance Belgium nv cannot be held liable for the consequences. 
The tax treatment depends on the individual situation of the customer and can change in the future. 
When reference is made to a tax system, this should be understood to refer to the tax system applicable to an average retail customer with the capacity of a natural person who is resident in a Belgium.

Options and plans

WORK INCAPACITY OPTION

Do you choose this option? If you become incapacitated for work during the term of the contract, you will receive a temporary monthly annuity. This allows you to continue to pay the monthly payments.

However, there is a waiting period for this benefit:

  • The agreement must have started 6 months ago
  • An own risk period applies: you are entitled to the benefit after 3 months of work incapacity. However, these can already start during the 6-month waiting period
  • You receive the payment for a maximum of 24 months per claim (To Check)
  • How much you get depends on the percentage of the work incapacity. The payment is multiplied by the percentage:
    • Less or equal to 25% equates to 0%
    • More or equal to 66% equates to 100%

You can only choose the work incapacity option if it concerns a loan with constant monthly instalments.

You cannot do so if you have chosen the Two Heads option or if you are older than 67 years.

CANCER CARE OPTION

Cancer Care is an additional cover in the NN Hypo care outstanding balance insurance. Have you or someone in your family been diagnosed with cancer? Then an predefined amount is paid out.

  • You decide yourself how you spend that amount
  • Possible with 1 or 2 main insured parties
  • Children are automatically insured

Conditions and details

PURPOSE

To protect your family against the financial impact that cancer has on you or your children1.

INSURED RISK

Life-threatening cancers including leukaemia, malignant lymphomas, Hodgkin’s disease, malignant bone marrow disorders and sarcomas.

The cancer needs to be diagnosed by a medical expert on the basis of a cell and tissue examination. An oncologist then prepares a so-called “histopathological report”2.

INSURED AMOUNT

Depends on the monthly payment for the mortgage loan.

A maximum of EUR 50,000 for the main insured, half the amount of the main insured for the co-insured.

WAITING TIME

This is 6 months. In the event of a cancer diagnosis, the insurance does not cover the first six months after the agreement has been signed.

MAXIMUM UPPER AGE LIMIT

With Cancer Care, you are insured against cancer until you reach the age of 70.

END OF THE GUARANTEE

For all insured and co-insured: when the outstanding balance insurance runs out

For a co-insured: from adulthood (18 years)

You can stop the supplementary Cancer Care cover at any time free of charge, independently of the Hypo Care(+) cover.

MEDICAL ACCEPTANCE

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

Are you 50 years old or younger? And is your insured capital at most EUR 300,000? Then it is sufficient to complete a simplified medical questionnaire.

In all other cases, you can find more information in our overview with segmentation criteria and in the Product FIF fact sheet.

PREMIUMS

The amount of the premium depends on:

  • age when contract entered into
  • smoking behaviour
  • payment frequency:
    • monthly: only by direct debit
    • annually: by direct debit or bank transfer

Do not hesitate to ask your broker for a quotation of your exact premium, adapted to your personal situation.

FISCAL FRAMEWORKS

The cover falls into the same framework as your main cover, Hypo Care(+).

OPTION HYPO CARE +: FREE PREVENTIVE HEALTH CHECK

If you opt for Hypo care +, you can have a preventive blood and urine test performed every 3 years at no charge. In this way, you can closely monitor your health and discover potential medical problems in good time.

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

There are various formulas for the premium payment

  • Optimal (standard): we optimise the duration of the premium payment.
  • Relax: with this unique formula, you spread the premium over the entire duration of your mortgage. You pay a lower premium if it is paid on an annual basis. In addition, you get a minimum insured capital, which means you are better insured.

Please note: Relax does not fit into the “sole own home” tax regime.

  • Budget: tailor the premium payment to the annual premium that you wish to pay.
  • Classic: you pay the premium for 2/3rds of the duration of the insurance.

Possible payment types for the premium:

  • Single premium: you pay the entire premium in one go
  • Fixed premium: you spread the payment over time; the premium is constant
  • Risk premiums: the premium evolves with your age

For the frequency, you can opt for monthly payments by direct debit, or annually by direct debit or bank transfer.

Are you 50 years old or younger? And is your insured capital at most EUR 300,000? Then it is sufficient to complete a simplified medical questionnaire.

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Important documents

It is necessary to read the Information Financial Fact Sheet & the General Terms and Conditions before purchasing, registering, entering into, accepting, signing or opening a NN Hypo care (+).

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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 Care Center, 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.be, www.ombudsman.be. 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