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 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.
- When a Defense personnel applies for an outstanding balance insurance linked to a mortgage loan or becomes a Defense personnel during the term of this contract, the insured is required to inform NN that he/she is a Defense personnel so that the insurance contract refers to the application of the convention. This loan shall be used for the purchase or (re)construction of your own home, which you use as your main residence within two years.
- NN will not charge additional premiums for the risks that a Defense personnel incurs in the performance of his/her professional duties in the context of an outstanding balance insurance.
- NN will not apply an exclusion clause in case a Defense personnel dies as a result of the exercise of his/her professional duties, except for the application of article 8 of the aforementioned agreement.
- If you die as a Defense personnel while performing your job, your family will not be left in financial distress. Depending on the cause and circumstances of your death, either your insurer or Defense will financially intervene, subject to applicable exclusions.
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:
- 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 500,000? Then it is sufficient to complete a simplified medical questionnaire.