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 spread your premiums however you like. Pay all in 1 go or spread them over the duration of your mortgage loan. Monthly or annually.
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.
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")
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.
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
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.
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.
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.
Is your insured capital higher? Then contact your broker.
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.
Find a broker near you.
The premiums are tax deductible via:
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.
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:
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 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.
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 500,000? 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.
Since the beginning of 2015, legal measures have been in force to make outstanding balance insurance more accessible to people with health problems (see Articles 212 to 224 of the Insurance Act). They apply to outstanding balance insurance when taking out a home loan to buy, build or renovate your own home. It may not be a second residence. This makes it easier for those who are seriously ill to buy or (re)build their own home. In some cases, the scheme also applies if you already have a home, but sell it within a period of 2 years.
For more information about the compenstatiekas take a look at Wettelijke maatregelen (assuralia.be) (dutch)
PERSONNEL OF DEFENSE
According to the agreement concluded between the Belgian state and Assuralia (professional association of insurance companies) on December 15, 2020.
This convention can be consulted via FRENCH: Convention Militaires 2021 (assuralia.be) or DUTCH: Conventie Militairen 2021 (assuralia.be).
PREMIUMS
The amount of the premium depends on:
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(+).
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.
There are various formulas for the premium payment
Please note: Relax does not fit into the “sole own home” tax regime.
Possible payment types for the premium:
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 500,000? Then it is sufficient to complete a simplified medical questionnaire.
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 (+).
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.
