Life insurance in Norway is a product you should consider purchasing. First of all, because it guarantees the payment of compensation in the event of death caused by an illness or an emergency. Such policies are especially recommended to people with credit obligations. It is worth remembering that in the event of death, the family has to pay off the debts of the deceased.
Life Insurance - How Does It Work?
Life insurance in Norway. Is it life insurance. However, depending on the primary purpose of the product, such policies may have different nomenclature as follows:
- barneforsikring - child insurance,
- ulykkesforsikring - accident insurance,
- kritisk sykdom - serious illness insurance,
- uføreforsikring - disability insurance,
- dødsfallsforsikring - insurance in the event of death.
From the point of view of a working person who wants to protect his family in the event of his death. The most important policy is life insurance (Norwegian livsforsikring). We will focus on it later in the article.
Livsforsikring what gives?
This type of policy is a safety valve for the family in a situation where the main breadwinner dies. It is especially recommended for those who have loans. It is worth recalling that at the time of the borrower's death, the obligation to repay the remaining debt rests with his relatives. The life policy guarantees the payment of due compensation also in other cases. The circumstances of commencement of the service are always specified in the signed contract. In fact, they may be any factors that prevent you from continuing your professional career, including suffering from invalidity or permanent health impairment.
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Operation of the insurance market in Norway
The life insurance market in Norway works very well. It also has a much richer offer than Polish insurance companies. As a rule, there are no obstacles to the payment of compensation, and standard benefits are much more attractive than those we know from Poland. This also applies to the amount of benefits offered. Importantly, there is nothing to prevent the insured from changing the beneficiaries of the compensation at any time, which will be paid, for example, in the event of his / her death.
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Norwegian insurance companies also offer flexibility in how benefits are paid out. The funds are paid out in one installment or in installments. In turn, the beneficiaries have the right to spend both the funeral costs and debt repayment. Depending on the guarantee amount, it may turn out that there will be additional money left for other expenses - not necessarily related to the direct removal of the consequences of the death of a loved one.
Norwegian insurance companies
Life insurance in Norway is offered through a range of companies, just like in Poland. However, it is worth getting acquainted with the offer of the following entities:
- If Skadeforsikring Norsk Avdeling av Utendlansk Foretak (IF.no),
- Gentile,
- Safe,
- Store brand,
- DNB,
- Spare Bank,
- FrendeForsikring.
Is life insurance worth buying?
Bearing in mind the benefits associated with a life policy - it is a product that is definitely worth buying. Especially if we are the main breadwinners and we are responsible for paying off our debts. Life insurance will protect our loved ones from serious financial consequences in the event of our death. The prices of such products vary greatly. With some insurers you have to pay NOK 74 per month for the sum insured to be NOK 500. However, specific institutions should be asked for details, because offers may differ significantly from each other.
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Call Michał Kuczkowski. You will get help in matters of car insurance, but not only by phone: 96878015
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