I want to purchase additional cover for life insurance. What should I do?
If your life situation changes through the purchase of a new home and the resulting loan, or when a new child is born, it may be a good idea to inspect the amount of compensation provided by your life insurance. Is the amount of compensation enough to support your loved ones in the event of your death?
You can increase the sum insured by purchasing a new life insurance policy alongside your existing one. 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. Purchasing a new life insurance policy always requires a new health declaration.
The amount of life insurance cover should be determined so that it covers the insured person’s loans, one year’s gross income and at least EUR 20,000 per child in your care.
It is also advisable to prepare against critical illnesses, as your income may decrease in case you fall ill. From critical illness insurance, we pay you a tax-free lump-sum compensation if you fall seriously ill or undergo a procedure listed in the terms and conditions. You can use the insurance payout for daily expenses, for obtaining the best possible treatment or for a recovery vacation, for example. Critical illness insurance always includes life insurance. If you want to insure yourself against critical illnesses and you already have life insurance, you can choose a critical illness insurance policy with a minimum life insurance payout of 1,000 euros.
Where can I see information about my current policy?
You can find your policy documents in My archive in OP-mobile or op.fi. If you can't find what you are looking for or need assistance, contact our Customer Service.
I wish to change the beneficiary of my life insurance policy. What should I do?
You can make changes to the beneficiary clause of your life insurance policy at any time by notifying us in writing. The easiest way to change the beneficiary clause is by messaging us in our digital services. You can find the information needed for the message in the Beneficiary clause form. Alternatively, you can add a beneficiary clause by filling in the Beneficiary clause form by mail.
I wish to reduce the amount of compensation provided by my life insurance policy. What should I do?
You can check whether the amount of life insurance payout is still suitable for your needs as follows: your share in any loans you have + your gross income for one year + at least 20,000 euros for each dependent child.
If your life situation has changed and you want to decrease the payout of your current life insurance policy, please send a message in our digital services. You can also call us if you need help deciding on a suitable insurance payout.
I want to terminate my life insurance policy. What should I do
You have the right to terminate your insurance policy at any time. However, please note that if you terminate your life insurance policy now and want to take out a new life insurance later, your state of health may affect the price of the insurance or whether we can grant the policy at all.
What to do if you have:
Life insurance only, without supplementary insurance
Life insurance policies must be terminated in writing. You can terminate an existing life insurance policy by logging in to the op.fi service or to OP-mobile and by messaging us there. In your message, describe the insurance policy you want to terminate in as much detail as possible.
Life insurance that includes critical illness insurance
If you have purchased a life insurance policy with critical illness insurance, you cannot terminate the life insurance without also terminating the critical illness insurance. However, you can lower the sum insured of the life insurance to as low as 1,000 euros. You can also terminate both policies or only the critical illness insurance while leaving the life insurance policy in effect.
The insurance policies must be terminated in writing. You can terminate existing insurance policies by logging in to the op.fi service or to OP-mobile and by messaging us there. In your message, describe the insurance policy you want to terminate in as much detail as possible.
