Inheritance insurance: protection in case of sudden death.
If you were to die suddenly due to an accident, you would want the best financial protection for your partner and/or children. Taking out inheritance insurance will provide a financial safety net. What are the benefits of this insurance?
What is inheritance insurance?
Inheritance insurance (or accidental death insurance) will protect your partner and/or children financially if you die suddenly due to an accident. This kind of insurance policy is linked to your securities account.
In exchange for a modest annual insurance premium, your beneficiaries will receive a sizeable payout (between EUR 25,000 and EUR 90,000).
What risks are not covered?
With inheritance insurance you must bear in mind that certain risks are not covered. Examples may include:
- accidents occurring before the insurance was taken out (and which the insured was aware of at the time when the insurance was taken out);
- suicide committed by the insured;
- intentional accidents or accidents resulting from intentional events;
- an incident in which the insured has an alcohol level that is higher than the legal limit (as stated in the traffic regulations) or in which the insured has used narcotics not prescribed by a doctor;
- an incident as a result of an accident that occurred prior to the signing of this contract.
In most cases when you take out inheritance insurance there are certain medical formalities that must be completed. Determining factors here are your age at the start of the policy, your current health and lifestyle and the insured capital. You need to be prepared to fill in a medical questionnaire or to visit a doctor for an examination.
So, you might like to know that when you take out insurance with ING you do not have to complete these medical formalities!
What if I do not have a securities account?
What if you do not have a securities account but still want to protect your surviving dependants financially if you were to die suddenly due to an accident? Then income insurance might be the solution for you.