Segmentation policy NN
Segmentation policy NN Insurance Belgium for individual life insurance
There are multiple criteria that play a role in determining whether we are prepared to insure a particular risk, what we are prepared to insure it against, and what the premium will be. These criteria serve as Acceptance Criteria (AC), Pricing Criteria (PC) and Extended Guarantee Criteria (GC). Based on these segmentation criteria, we try to find a balance between the premium you pay and the loss or damage we anticipate. The segmentation criteria are objective criteria that can influence the probability or extent of loss or damage.
| Acceptance Criteria (AC) | Pricing Criteria (PC) | Extended Guarantee Criteria (GC) | |
|---|---|---|---|
| Insured capital | X | X | |
| Duration of the contract | X | X | |
| Financial acceptance | X | ||
| Health condition | X | X | X |
| Age | X | X | |
| Smoking behaviour | X | ||
| Profession and sport(s) | X | X | X |
| Vacation risk factor | X | X | X |
Please find below an explanation of the segmentation criteria we apply.
The insured capital (AC, PC):
The insured capital has an impact on the amount of the premium, as it is directly linked to the risk to be insured.
The duration of the contract (AC, PC):
The duration of the contract may have an impact on the amount insured, and may therefore influence the amount of the premium.
The financial acceptance (AC):
If the total capital amount insured by NN Insurance Belgium SA/NV exceeds €1,5 million, we will assess your financial situation.
Your health condition (AC, PC, GC):
We will make enquiries into your health status through a questionnaire or by performing a medical examination. If, at the time you take out the contract, you are aware of any health problems which affect your risk of premature death, we will take these into account.
If after carrying out the questionnaire or medical exam we are still unable to establish a sufficiently clear picture of your health, we may ask you to answer additional questions, or to provide us with further information.
Your Age (AC, PC):
Your age is an important factor when you take out life insurance, because, statistically, the probability of death increases with age.
Your smoking behaviour (PC):
Smoking seriously damages your health and increases the risk of mortality. Therefore, we need to know if you smoke.
Profession and sport(s) (AC, PC, GC):
Your profession and any sport(s) you participate in can be considered to be more or less dangerous and consequently, have an influence on your risk of being killed and your life expectancy.
The fact that you take vacations for long periods abroad (AC, PC, GC):
Depending on the duration and destination, a vacation in a foreign country can have an influence on the condition of your health, your risk of being killed and your life expectancy.