OP Critical Illness Insurance
Lump-sum compensation in nine different illnesses or proceduresWhat is Critical Illness Insurance?
Critical Illness Insurance provides cover in the event of common critical illnesses or procedures in Finland. If you become critically ill and cannot work for a period, for example, the insurance pays out tax-free lump-sum compensation that you can spend on daily expenses, the best treatment, a holiday for recovery or as you see fit.
Cover for nine types of serious illnesses and procedures
Critical Illness Insurance gives you cover in the event of nine different critical illnesses and procedures such as certain types of cancer. We will pay the insurance payout to you in the form of lump-sum compensation, after which the insurance will expire.
Always includes life insurance
When you buy critical illness insurance, it always includes life insurance. You can choose the amount of life insurance payout, from 1,000 to 300,000 euros. If you die while the insurance is valid, the life insurance payout is paid to a beneficiary of your choice. Please note that our service language is Finnish or Swedish. Critical illness insurance can currently be purchased online in Finnish and Swedish.
What illnesses are covered by critical illness insurance?
It is a common belief that critical illness insurance only covers cancer, but this is not the case. OP Critical Illness Insurance covers the following critical illnesses and procedures:
- Certain types of cancer
- Benign tumours of the brain or spinal cord
- Multiple sclerosis
- Stroke
- Coronary artery disease bypass operation as open heart surgery
- Myocardial infarction
- Heart valve surgery
- Renal insufficiency
- Organ or bone marrow transplant
For the full definitions or insurance events covered by critical illness insurance and exclusions, see the insurance terms and conditions.
Comprehensive critical illness insurance and life insurance in one package
We cannot prevent setbacks in life, but we can prepare for them. With OP Critical Illness Insurance, you get financial support in the event of a setback and have one less thing to worry about. The insurance covers events listed in the terms and conditions in the following situations:
- In the event of critical illness
- For procedures related to critical illnesses
- For your beneficiary in the event of your death
The lump-sum compensation helps you and your loved ones survive financially
When you purchase critical illness insurance, you can select a sum insured between 20,000 and 100,000 euros, depending on your need. The sum insured should cover at least one year's income before taxes.
You can claim compensation after 28 days have passed from the diagnosis or procedure. The insurance payout is tax-free.
The insurance has a 90-day waiting period, which means that we may pay compensation if the illness or procedure listed in the terms and conditions is diagnosed or performed no less than 90 days after the insurance takes effect. We will not charge the insurance premium for the first 90 days. This price reduction is taken into account in the premium for the first year.
The payout does not necessarily need to be used to cover the treatment expenses of the illness or accident, and you can use it as you see fit to pay for the best possible care, purchase the necessary assistive devices, renovate your home to accommodate your illness or disability, or for a vacation to help your recovery.
What does critical illness insurance cost?
The price of critical illness insurance depends on the amount of lump-sum compensation and your age, state of health, health habits, and whether you are a smoker. The amount of life insurance payout you select also affects the total price of the insurance. As an OP cooperative bank owner-customer and a Pohjola Insurance prime customer, you get a 25% discount on the price of life insurance when buying online. The discount is valid for one year. The additional discount is confirmed annually, and its payout is based on continuity. The size of the benefit may vary, or the benefit may be waived.