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Make an appointmentA life insurance developed by NN Insurance Belgium SA/NV
Your loved ones are the most important thing. But what if all of a sudden you are no longer here and you still have a mortgage loan to pay off? With ING Outstanding Balance Insurance Mortgage Loan, you can avoid your loved ones having to pay off all or part of your mortgage loan.
For your family
Your partner or other loved ones will not remain in debt after your death because of the ING Mortgage Loan (if you opt for 100% coverage). If you opt for 50% coverage, only half of your ING Mortgage Loan will be repaid.
Modifiable
For example, if you change your ING Mortgage Loan in the event of a partial early repayment, we will automatically adjust your ING Outstanding Balance Insurance Mortgage Loan.
Tax deductible
The premiums are tax deductible under certain conditions. See "tax matters" for more information.
A Life insurance, developed by NN Insurance Belgium SA/nv and subject to Belgian law, linked to your mortgage loan. For complete security, we recommend coverage for each borrower for 100% of the amount of your mortgage loan. In the event of your death, we will then repay the balance of your loan in full. Your heirs (e.g. your partner or your children) therefore do not have to continue paying off your mortgage loan (if you opt for 100% coverage) or sell the family home.
Persons with an increased health risk can benefit from a contribution to the premium of their ING Outstanding Balance Insurance Mortgage Loan via a compensation fund. This is possible if the additional premium is more than 125% higher than the basic premium due to an increased health risk. Consult your insurer, your bank or your intermediary for more information.
You choose according to your needs:
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) | |
---|---|---|---|
Capital insured | |||
Term of the policy | |||
Financial acceptance | |||
State of health | |||
Age | |||
Smoker/non-smoker | |||
Profession and sport(s) | |||
Travel risk factor |
Please find below further explanation of the criteria we apply.
Tax matters
The premiums for your ING Outstanding Balance Insurance Mortgage Loan may be tax deductible under certain conditions. Depending on the circumstances, the following tax system may apply (provided that the legal rules governing this benefit is respected):
For the owner-occupied home, there is only a tax reduction for personal income tax (home cheque) in Wallonia for contracts concluded as from 01/01/2020. The available amount of savings that can be taken into account for this tax benefit is often already supplemented by the repayment of the capital and interest linked to the mortgage loan. You can also choose not to apply any tax advantage to the contract and, in other words, not to apply any of the above tax reductions. After all, if you benefit from at least one tax benefit during the term of the contract, the beneficiary will be taxed on the paid-up capital. This tax is different depending on the tax benefit. Keep in mind that in certain circumstances inheritance tax may need to be paid by your loved ones in the event of the death of the insured. You can always ask a tax advisor for advice.
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?
Not satisfied with the handling of your complaint? You can also contact the Insurance Ombudsman’s department, de Meeûssquare 35, 1000 Brussels - Tel: + 32 2 547 58 71 - Fax: + 32 2 547 59 75 - info@ombudsman.as - https://www.ombudsman.as/nl/.
Interested in an ING Outstanding Balance Insurance Mortgage Loan?
For all applicable terms and conditions, exclusions and limitations, please read:
Please read these documents before signing your policy.
You have the opportunity to familiarize yourself with the:
This information can always be consulted on www.ing.be > Charges and regulations > Information and Regulations > Insure.
ING Outstanding Balance Insurance Mortgage Loan is an insurance product provided, upon mutual agreement, by ING Belgium SA/nv (insurance intermediary), insurance broker registered with the FSMA under the number 12381A and NN Insurance Belgium nv (insurer), an insurance company, licensed by NBB under the code number 2550.
For all conditions and exceptions, please read the General Conditions (PDF).
All other important details can be found here:
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