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.
Possible to spread premiums flexibly
Protection in the event of illness with optinal “Cancer Care” cover
You yourself choose the percentage of the debt balance cover
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.
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.
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”.
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.
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
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.
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.
If your insurable capital is greater than 1 million euro, then you should contact your broker.
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.
You can benefit from tax deductibility of the premiums via:
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).
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:
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.
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.
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:
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(+).
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.
There are various plans for paying the premiums
Possible payment types for the premium:
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.
It is necessary to read the following documents before purchasing, subscribing, accepting, signing or opening an NN Hypo care contract;
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.
