Life insurance

You know what is most important to you

Calculating the price and buying the insurance policy is not possible right now. We apologise for any inconvenience caused by this disruption.

Try again soon or buy insurance by contacting customer service by calling +358 303 0303 (Mon‒Fri 9–16).

When you buy life insurance for yourself or someone else, we make the insurance decision with the aid of automated decision-making and check your credit history with Suomen Asiakastieto Oy. Read more about automated decision-making
Free 45% increase

Benefit for OP cooperative bank owner-customers and Pohjola Insurance prime customers

As an OP cooperative bank owner-customer or a Pohjola Insurance prime customer, you get a 45% increase in the amount of insurance free of charge. For example, compensation of EUR 100,000 will be EUR 145,000 after the increase.

Read more Close

The best time to take out life insurance is now

You never know what’s waiting around the corner, which is why being prepared will help you be at peace. The amount of compensation paid under life insurance will ease the financial burdens of your loved ones if you die.


Take out individual or joint cover easily online

Use the above calculator to determine the price of life insurance for you and take out an insurance policy easily online. You can take out life insurance for yourself or take out joint cover, which is a joint life insurance for two persons.


You choose your beneficiary

In the event of your death, the amount of life insurance compensation you have selected will be paid to the beneficiary you have specified. You can change the beneficiary whenever you want and as often as you like.

What is life insurance?

Life insurance is security for the future and particularly important when you have a family. If you have life insurance and you die, compensation under life insurance will be paid to your beneficiaries of choice. In most cases, the beneficiary is next of kin, for example, your spouse or child. However, the beneficiary can be anyone whose financial wellbeing is close to your heart. Life insurance covers death resulting from illness or an accident.

An insurance payout will help them manage financially in difficult times. Your loved ones can spend the life insurance payout as they wish, for example, by paying back loans and inheritance tax.

What are the differences between single cover and joint cover?

As the name implies, joint cover is a life insurance policy for two individuals, whereas single cover means life insurance you take out for yourself. Joint cover is ideal when you and your partner share financial responsibility in your household. It is often cheaper than individual life insurance policies.

In the case of joint cover, both insured persons can name their beneficiary. In joint cover, the benefit for life insurance is paid to a beneficiary named by the deceased. If both insured persons die at the same time, the payout is split between their beneficiaries.

Learn more about how to choose beneficiaries >

You can take out single cover or joint cover if you are up to 65 years old. Both policy types require filling in a health declaration and end when the insured person turns 70 or dies.

Choose the life insurance policy that best suits your circumstances according to your family’s size, income and loans.

Compare life insurance policies >

Examples of the life insurance prices

See below for examples of the cost of life insurance for one person or as joint cover for two persons, and how the insurance amount is affected if you are a prime customer of Pohjola Insurance or an owner-customer of an OP cooperative bank.



Venla, 29
Life Assurance

Venla has a 3-year-old daughter, whose future she wishes to secure with life insurance. Because Venla is an OP cooperative bank owner-customer, she automatically receives an increase of 45 per cent in the amount of compensation for a single person’s life insurance of her choice.

Amount of compensation

Compensation for owner customer

Price example
€16.25 per month
(€195 per year)

Olli and Tuula

Olli, 40 and Tuula, 43 
Joint cover

Olli and Tuula have chosen a joint cover. They have a shared home loan and two children, aged 3 and 6. As prime customers of Pohjola Insurance, they automatically receive an increase of 45 per cent in the amount of compensation.

Amount of compensation

Compensation for prime customer

Price example
€35.75 per month
(€429 per year)

Mia and Ari

Mia, 28 and Ari, 30
Joint cover

Mia and Ari wish to secure each others’ financial situation through life insurance with joint cover. They have a shared home. As OP cooperative bank owner-customers, they get an increase of 45 per cent in the amount of compensation.

Amount of compensation

Compensation for owner customer

Price example
€23.42 per month
(€281 per year)


What factors affect the cost of life insurance? 

Your life insurance premium depends on the amount of benefit chosen and the age of the insured person. The younger you take out the insurance, the smaller your premium. Your state of health may also affect the price of the insurance policy. You can use our life insurance calculator to determine the sum insured that corresponds to your needs, and how much the insurance product costs. Fill in your date of birth and information on your life situation to view the price of life insurance. 

You can get the most inexpensive life insurance if you are a Pohjola Insurance prime customer or an OP cooperative bank owner-customer. In such a case, you will also get a 45% increase in the sum insured on your life insurance free of charge.

The insurance premiums for joint cover are generally lower than the insurance premiums for term life insurance for a single person. Insurance premiums are paid annually in one or several instalments. Life insurance is cheapest when you pay the annual premium in a single instalment. In such a case, you will receive a 2.5% discount on the premium.

Three good reasons to get life insurance

  1. In the event of your death, your beneficiary (such as your spouse) receives an immediate payout that helps take care of daily expenses. We recommend selecting a payout amount that covers your loans, your annual gross income and 20,000 euros per dependent child. 
  2. Life insurance can bring peace of mind thanks to better financial security. Many people take out life insurance when they have a baby, take out a mortgage or are otherwise financially responsible for a loved one.
  3. You earn OP bonuses on your life insurance, and as our owner-customer or a Pohjola Insurance prime customer, you get a 45% increase to the payout amount.

What is automated decision-making?

Automated decision-making means that the decision of whether the insurance will be granted is made through our automated system, and our customer care representatives do not participate in the decision-making. The decision we make is based on the information you have provided, our customer data file and our  risk selection instructions. 
If you or another insured person want to have your automatically issued decision processed by a customer care representative, you may contact our Customer Service.

Read how we process personal data

Contact us about life insurance

If you would like to talk to our specialist about life insurance, you can contact our customer service on 0303 0303 (between 8.00 and 17.00 from Monday to Friday).

What does life insurance cover? Life insurance provides lump-sum compensation if the insured person dies due to an illness or injury. The life insurance benefit will be paid to the beneficiary you have chosen. The right amount of life insurance covers at least your share of any loans, your annual gross income and EUR 20,000 for each dependant child. Any existing life insurance cover and wealth you may have will reduce the amount of new life insurance you need.

Take account of the following when determining how much life insurance you need:

  • family’s loans
  • parents’ annual gross income
  • number of children     
  • existing life insurance cover
  • amount of wealth    

If your situation changes, you can adjust the amount of life insurance cover any time during the policy’s validity. Any changes you make will affect the price of the insurance.

The minimum age for taking out life insurance is two and the maximum age is 65. The minimum age for joint cover is 15 and the maximum age 65. Single-person insurance cover ends once the insured person has died or at the end of the insurance period when they turn 70. Joint cover ends if either of the insured persons dies or turns 70, after which the insurance continues as single-person cover.

Life insurance payouts are subject to either inheritance tax or capital gains tax, depending on whether or not the beneficiary is a next of kin.

Read more about taxation of life insurance payouts >

Life insurance is issued on the basis of a health declaration. When applying for life insurance, you must fill out a health declaration form asking for basic details about your health. You can easily fill out the health declaration online while applying for life insurance. Please note that the insurance policy will not enter into force until you have filled out the health declaration. For joint cover, both insured persons need to fill out health declarations.

Life insurance can be granted even if the insured is not in a perfect state of health; the granting decision is always based on the health declaration.

It is important that you do not terminate any existing life insurance policies until you have received a decision that a new policy has been granted.


When applying for life insurance, you can designate a beneficiary to whom the benefit will be paid in the event of your death. You can make changes to the beneficiary clause of your life insurance policy at any time by informing the insurance company in writing.

The easiest way to add or change a beneficiary clause is through the My policies section of the service. Alternatively, you can add a beneficiary clause by filling in the Beneficiary clause form.

It’s good to check the amount of life insurance compensation if your life situation has changed, for example, with the purchase of a new home and a bigger loan, or when a new child is born into the family. Calculate the amount of compensation so that it covers your share of the loans, your annual gross income, and at least EUR 20,000 per child in your care.

You can purchase additional cover by buying a new life insurance to supplement the old one with the desired amount of compensation. In this case, the amount of life insurance cover is the sum of the life insurance cover provided by the old and the new life insurance policies.

You must also submit a new health declaration in order to apply for additional cover.

As a Pohjola Insurance prime customer you will receive discounts benefits. When you are also an OP cooperative bank owner-customer, you have access to even better benefits and discounts and the bonuses you have received as an owner-customer are used for your insurance premiums.

Life insurance pays compensation to the beneficiary if the insured dies during the validity of the insurance. Here you can find the instructions and forms for applying for life insurance compensation.

NewLife life insurance
Kaksi miestä istuu huolettomina, koska heidät on turvattu Henkivakuutuksella.
Life Insurance for Entrepreneurs and Personnel
Ensure the continuity of your business and reduce financial risks related to your personnel.
Health insurance for an adult
The insurance is issued by OP Life Assurance Company Ltd, and Pohjola Insurance Ltd acts as its agent.