Life can stop in an instant – why be prepared?
The serious illness of a spouse or a child or your own unexpected diagnosis can change everything in an instant. Sick leave, medical expenses and handling the fear of loss and everyday arrangements require both time and space as well as financial security.
Financial preparedness gives immediate peace of mind and security when life presents unpleasant surprises. If the parents are unable to work, this is reflected in the family's income and daily life in the long run. Being prepared pays off, and it can be achieved in many different ways.
Security brings comfort in times of illness, fear and uncertainty
Illness often brings feelings of fear, uncertainty or loneliness, and much of our strength can be spent on just surviving from day to day. If financial troubles also add up as a result of having to take sick leave, the burden often becomes too great to bear. When you have insured yourself and your loved ones against illnesses and other unfortunate events, you can depend on financial security to cover daily expenses or the treatment costs of the illness, for example.
The fear of losing a loved one can also cause feelings of anxiety and uncertainty. How would your partner be able to manage the family's daily expenses, loan payments and the kids' hobbies if you were to pass away? Part of caring for your loved ones is preparing for your own death and securing their future despite the grief and loss.
Insurance for serious illness and crises in life
| Insurance | When does the insurance help? | How does the insurance work? | Maximum compensation |
|---|---|---|---|
| Health insurance | You get fast access to care if you become ill or get injured. Covers medical consultations, surgery, medication and more. | The insurance covers treatment expenses incurred that exceed the deductible. | Medical treatment expenses up to €200,000 |
| Life insurance | Secures your loved ones' livelihoods should you pass away. Your loved ones can use the insurance payout in the way they see fit, whether to pay off a home loan or inheritance taxes or cover daily expenses. | The insurance pays out a lump-sum compensation of your choice to your beneficiaries after your death. | Up to €300,000 |
| Critical illness insurance (supplementary cover for life insurance) | Provides financial security during a serious illness, such as cancer or a heart attack. You can use the insurance payout in the way you see fit, such as to cover the costs of sick leave or extra treatment or pay off a home loan. | The insurance pays out a lump-sum compensation of your choice after the illness has been diagnosed or the medical procedure is performed. | €20,000 to €100,000 |
| Temporary disability insurance (supplementary cover for life insurance) | Brings financial security if you are temporarily unable to work due to an illness or injury. Helps take care of obligations, such as loan repayments and daily expenses during the sick leave. | The insurance pays a daily compensation. You can receive the compensation for up to 365 days. | €30 or more per day |
| Permanent disability insurance (supplementary cover for life insurance) | Supports you financially if you are entirely unable to work due to an illness or injury. You can use the compensation in the way you see fit. | The insurance pays out a lump sum compensation according to your choice. | From €10,000 and upwards |
Health insurance – medical expenses insurance for all ages
Illness can take anyone by surprise, both young and old. Health insurance helps protect yourself and your loved ones against sudden illness and accidental injuries. The insurance is valid until the age of 100.
The insurance covers both minor illnesses, such as the flu, and serious illnesses requiring long-term treatment, such as cancer, rheumatism or diabetes. Children in particular can be diagnosed in their early teens with an illness that affects the rest of their life.
If you or a family member fall ill, health insurance provides fast access to treatment at a private provider without worries about high costs. The insurance covers medical consultations, laboratory examinations, medical imaging studies, operations, treatment prescribed by a doctor and more. In the case of serious illnesses, treatment can also become surprisingly expensive in public healthcare if the treatment requires long stays in hospital, for example. Health insurance also covers expenses in public healthcare.
You can apply for health insurance with a health declaration. Existing diagnosed illnesses may affect the scope of the insurance cover, but you can usually take out the insurance even if you are not in perfect health. It’s always worth applying for insurance. You can take out health insurance for yourself, your child or unborn child or another adult.
Life insurance – protects your loved ones in the event of death
Life insurance brings financial security for your loved ones in the event of your unexpected death. Life insurance pays out an agreed lump-sum compensation to your beneficiaries. Your loved ones can use the compensation to pay off your share of a home loan or cover the family's daily expenses, for example. It allows your spouse to take time off work if necessary to regain the strength to cope with daily life after the loss.
Spouses sometimes consider taking out joint cover, which generally refers to joint life insurance for two persons. While OP Life Assurance Company only offers life insurance policies for one person, this is a good option for couples if both spouses take out their own life insurance. This way, one spouse's health, age or possible death do not affect the life insurance cover of the other spouse.
Critical illness insurance – supplements life insurance
Critical illness insurance lets you supplement your financial security, whether you live alone or have a family or are self-employed. The insurance helps when your functional ability or ability to work is reduced due to a serious illness. The insurance covers nine common serious illnesses and their related procedures, including certain cancers, stroke, coronary artery disease bypass operation with open heart surgery, and heart attack. The insurance pays out a tax-exempt lump-sum compensation. You can use the compensation in the way you see fit, such as to get the best possible treatment, cover daily expenses or take a vacation to help your recovery, for example.
Critical illness insurance always includes life insurance, which pays a lump-sum compensation to the beneficiaries of your choice in the event of your death.
Disability insurance – financial security in the event of temporary or permanent inability to work
Sick leave or losing the ability to work can be temporary or permanent. By preparing for disability, you ensure that life goes on normally if you suffer a drop in income. You can take out insurance against both temporary and permanent disability.
Temporary disability insurance protects your own and your loved ones' finances if you have to take a longer sick leave. The insurance pays a daily compensation for up to 365 days. The compensation helps you pay living costs and other necessary expenses.
Permanent disability insurance protects your own and your loved ones' finances if you lose your ability to work entirely. The insurance pays you a lump-sum compensation. You can use the compensation in any way you see fit, such as to pay off loans or to cover other daily expenses.
If your household's expenses are based on your usual salary or business income, a drop in earnings can make daily life challenging. Disability insurance is especially suitable for people whose livelihood is strongly tied to work ability. If you are an employee and receive a salary or wages, you can take out additional cover on top of the compensation paid by your employer and Kela. If you are self-employed, insurance allows you to reduce the risk of a drop in income.
Temporary or permanent disability insurance always includes life insurance. You can take out both types of disability insurance at once along with life insurance. If you wish, you can also supplement your cover with critical illness insurance.
Choose a suitable insurance solution for you
A serious illness or the loss of a loved one are more than just a statistical risk – they are part of life. Our insurance products, including health insurance, life insurance and disability insurance, offer protection when you need it. Insure yourself and your family today.
Pohjola Health Insurance covers medical treatment expenses to up to 200,000 euros. The insurance covers treatment expenses, medical consultations and medication related to cancer, rheumatism and diabetes, for example.
Life insurance brings financial security for your loved ones in the event of your death. You can choose a life insurance payout from 1,000 to 300,000 euros. The insurance pays a lump-sum compensation to the beneficiaries of your choice quickly, often before the estate inventory.
Critical illness insurance pays a tax-exempt lump-sum compensation if you fall seriously ill or undergo a procedure listed in the terms and conditions. You can use the compensation in the way you see fit.
Temporary disability insurance secures your income if you need to take sick leave from your work. You can receive a daily compensation for up to 365 days in total.
Permanent disability insurance provides financial security if you are permanently disabled and unable to work. The insurance pays a tax-exempt lump-sum compensation that helps you adjust to your changed circumstances. You can use the compensation in the way you see fit.