ING Fixed Capital Death Insurance
A death insurance policy developed by NN Insurance Belgium SA/NV.
Wondering how you can ensure the quality of life for your loved ones in the event of your death? With ING Fixed Capital Death Insurance, you can provide them with capital to meet anticipated and unexpected costs.
Your business can cover the difference in income arising from the death of a key member of staff, to meet anticipated and unforeseen costs (such as rent or investments).
Accessible to all
For a modest premium, you can give your loved ones the security and peace of mind they deserve.
You choose the insured capital, the term, the beneficiaries of your policy and the frequency of payment (monthly or annual) yourself. You can adapt the criteria to suit your needs and budget (subject to acceptance by the insurer).
Premiums stay the same for at least 3 years, subject to statutory amendments.
You can recognise these premiums as professional expenses, under certain conditions. For more information, see “tax matters”.
A death insurance policy subject to Belgian Law, developed by NN Insurance Belgium SA/nv whereby your beneficiaries receive a lump sum, which you determine, in the event of your death. This will help them cover losses resulting from the death of key members of staff or partners in your company, and meet anticipated and unexpected costs such as rent or investments.
- suicide within the first year:
- of the policy;
- after restarting the policy;
- after increasing the death capital (the exclusion only applies to the increased portion of the death capital).
- If you, as the insured person, die during a parachute jump, hang gliding or paragliding or while piloting an aircraft, you are not insured.
- If you, as the insured person, die during active participation in riots, disturbances or violence, you are not insured.
The company must:
- Be based in the Netherlands or Belgium;
- Have an account with ING.
The legal representative must be:
- Aged 18 or over;
- Recognised as the company’s legal representative.
You can apply for this insurance at your branch or by calling our business credit centre on 0800/15 123 (every business day from 8:00 am to 8:00 pm).
- When you apply: You make the decisions based on the company’s needs
- You decide the capital insured yourself (minimum 2,500 euros)
- the beneficiaries (if you choose a taxed policy you will need to appoint your spouse, legal partner or a first or second-degree relative as your beneficiary)
- and the payment term (annual or monthly premium).
- During the policy: you can amend your policy so that it continues to meet your needs as effectively as possible. Policy amendments are subject to acceptance by the insurer.
- Calculating the premium: The premium will be established after assessment of the risk and confirmed in the policy. The rate is determined based on various criteria (see segmentation policy). We use a number of criteria to decide whether or not to approve your insurance application, to calculate your insurance premiums and to determine the level of guarantee. These criteria are the capital insured, the term of the policy and the financial acceptance. In addition, there are other elements that apply to the insured person: whether or not they smoke, their age, state of health, profession, the sport or sports that they participate in and the question of whether they spend long periods of time abroad.
- Payment methods:
- You can opt for a regular premium; you pay a premium throughout the term of the policy. The premiums are fixed and include taxes and charges. When you are a natural person and your tax residence is in Belgium, the tax on the premium is 2% of every paid premium. When you are a legal person, the tax on the premium is 4.40%.
- If you pay an annual premium, you will not be charged any instalment fees. You can also choose to pay your premiums monthly (4% instalment fees) on condition that the monthly premium is more than 5 euros.
- The rate is valid for 3 years from the start date of the policy, subject to statutory amendments.
- Term: You are free to choose the term of your policy.
- End of the policy:
- If you are still living: The policy will end on the date you have specified. You can renew the policy according to criteria you have chosen (subject to acceptance by the insurer).
- On your death: The insurer will automatically contact your beneficiaries and inform them of the steps they need to take.
A number of criteria influence the insurer’s decision on whether or not to insure a risk and at what rate. These are Acceptance Criteria (AC), Pricing Criteria (PC) and Extended Guarantee Criteria (GC). We use these segmentation criteria to find a balance between the premium you pay and the loss or damage we anticipate. These 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)
Duration of the contract
State of health
Profession and sport(s)
Travel Risk Factor
Please find below further explanation of the criteria we apply.
- The capital insured (AC, PC): the capital insured has an impact on the amount of the premium, as it is directly linked to the risk to be insured.
- The term of the policy (AC, PC): the term of the policy may have an impact on the amount insured, and may therefore influence the amount of the premium.
- The financial acceptance (AC): if the total amount of capital insured with NN Insurance Belgium SA/NV exceeds 1 million euros, the insurer will assess your financial situation.
- The state of your health (AC, PC, GC): the insurer will make enquiries regarding your health status based on a questionnaire or medical examination. If, at the time of taking out your policy, you are aware of any health problems which may affect your risk of premature death, the insurer will take these into account. If the questionnaire or medical exam does not give us a sufficiently clear picture of your health, the insurer may also ask you to answer additional questions, or to provide the insurer 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.
- Smoker/non-smoker (PC): because smoking seriously damages your health and increases the risk of mortality, 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 death and your life expectancy.
- The fact that you travel for long periods abroad (AC, PC, GC): depending on the duration and destination, spending time in a foreign country can have an influence on the state of your health, your risk of death and your life expectancy.
If the policyholder is self-employed: As a private individual you can choose to take advantage of tax relief on your premiums as part of long-term saving. The only condition is that you are below the age of 65 when you take out the policy and that you appoint your spouse, legal partner or a first or second-degree relative as beneficiary. Please bear in mind that this tax relief can only be used if you have not yet reached the maximum amount for long-term saving. If you take advantage of tax incentives on at least one occasion during the term of the policy, please be aware that in the event of the insured person’s death, the beneficiary will be taxed on the capital paid out. To avoid this tax burden, you can choose to make your policy tax-free. Please be aware that in the event of the insured person’s death, you will always be liable for inheritance tax. You can always ask a tax adviser for more information.
If the policyholder is a company:
In this event, the tax relief for long-term saving will not be applied, which means you can recognise these premiums as a professional expense. Always consult your accountant to know whether these premiums can be taken into account as a professional expense.
Who is NN Insurance Belgium SA/NV?
NN Insurance Belgium SA/nv (formerly ING Life Belgium SA/nv) is an insurance company belonging to the NN Group with a rich history in Belgium. NN Group is a Dutch insurer and an insurance and investment company listed on the stock exchange (Euronext Amsterdam) with a strong foothold in Europe. The group works in over 18 countries and employs more than 12,000 members of staff. With more than 15 million customers, NN Group provides services in the field of pensions, insurance and investment, with the addition of banking in the Netherlands.
Not entirely satisfied?
- Contact ING online: www.ing.be/complaints
- Call ING: +32 2 464 60 01
Not satisfied with the way your complaint has been handled?
You can also contact the Insurance Ombudsman, Square de Meeûs/de Meeûssquare 35, 1000 Brussels, Belgium – Tel.: + 32 2 547 58 71 – Fax: + 32 2 547 59 75 – firstname.lastname@example.org – https://www.ombudsman-insurance.be
Interested in ING Fixed Capital death insurance?
You can find a complete description of the insurance policy, exclusions and limitations in
- the General Terms and Conditions
- and the Information Sheet available at www.ing.be or from any ING branch.
Please read these documents before signing your policy
You can find
- General Information on Insurance
- and conflict of interest policy, including the benefits of:
This information can be consulted at any time via www.ing.be > Charges and regulations > Information and Regulations > Insure
Insurance intermediary: ING Belgium SA/nv, an insurance broker registered with the FSMA under code number 0403.200.393. Registered office: Avenue Marnixlaan 24, B–1000 Brussels – RPM/RPR Brussels – VAT BE 0403.200.393 – www.ing.be – BIC: BBRUBEBB – IBAN: BE45 3109 1560 2789.
NN Insurance Belgium SA/nv, insurance company authorised by the NBB under number 2550 for Classes 1a, 2, 21, 22, 23, 25, 26. Registered office: Avenue Fonsny/Fonsnylaan 38, B-1060 Brussels – RPR Brussels – VAT BE 0890.270.057. BIC BBRUBEBB – IBAN BE28 3100 7627 4220