Family

ING Outstanding Balance Insurance Mortgage Loan

A 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.

What is ING Outstanding Balance Insurance Mortgage Loan?

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.

The main exclusions
  • Suicide in the first year:
    • of the contract;
    • after restarting the contract;
    • 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.
Who can take out this decreasing term life insurance?
  • All natural persons aged 18 or over;
  • resident in Belgium or the Netherlands or moving to Belgium or the Netherlands within 6 months of the start date;
  • and taking out an ING Mortgage Loan.

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.

How do I apply?

You choose according to your needs:

  • the insured percentage of your mortgage loan;
  • and the frequency of payment (single premium, annual or monthly premium);
  • You choose the beneficiary(ies) of your ING Outstanding Balance Insurance Mortgage Loan. If you want to benefit from a tax advantage on your premiums, the choice of beneficiary(ies) is limited by law.
Rate and term
  • Payment methods: you can opt for a one-off premium (you pay a one-off premium and are insured for the full term of your contract) or recurring premiums (you pay a premium at regular intervals for the entire duration of the mortgage loan. These premiums vary from year to year). The premiums include taxes and costs. If you are a natural person and your tax residence is in Belgium, you owe 2% tax on insurance premiums. However, the tax for insurances linked to a mortgage loan is 1.1%.
    • If you pay your premiums monthly, a fractioning fee of 4% will be charged. You can avoid this cost by paying a one-off or annual premium.
  • Calculation of the premium: The premiums are determined after evaluation of the risk and confirmed in the contract. The rate is determined on the basis of various criteria (see segmentation policy).
  • Tariff: the tariff is valid for 3 years from the start date of the contract, subject to statutory amendments.
  • Duration: the duration of your contract corresponds to the duration of the covered credit.
  • End of your contract:
    • If you are still living: your contract ends automatically when your credit has been paid off in full.
    • In the event of your death: the insured percentage of the debt balance of your mortgage loan will be repaid.
Segmentation policy

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.

  • 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, NN Insurance Belgium SA/NV, 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, NN Insurance Belgium SA/NV may also 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.
  • Smoker/non-smoker (PC): because smoking seriously damages your health and increases the risk of mortality, the insurer needs 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.

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):

  • Tax relief for the purchase of a house.

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?

  • Contact ING online: www.ing.be/klachten
  • Call ING: +32 2 464 60 01

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.

Make an appointment
Legal information

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:

  • Insurance intermediary: ING Belgium SA/NV, an insurance broker, registered with the FSMA under the code number 0403.200.393. Registered office: Avenue Marnix 24, B-1000 Brussels - Brussels RPM/RPR - VAT BE 0403.200.393 - www.ing.be - BIC: BBRUBEBB - IBAN: BE45 3109 1560 2789.
  • Insurer: NN Insurance Belgium SA/NV, insurance company licensed by the NBB under the number 2550 for the Branches 1a, 2, 21, 22, 23, 25 , 26. Registered office: Avenue Fonsny 38, B-1060 Brussels – RLP Brussels – VAT BE 0890.270.057. BIC BBRUBEBB – IBAN BE28 3100 7627 4220.

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