Term life insurance pays out a one-off amount to the beneficiaries designated by you for this insurance after your death. You determine the exact amount, the term of the insurance and who is to receive the amount after the policyholder’s death (you decide whom to insure). Premiums are paid on a monthly basis.
You can no longer take out term life insurance through ABN AMRO. But we do have a partnership with Nationale-Nederlanden (in Dutch) .
The insured amount decreases every year based on the annuity rate selected by you. The longer the insurance is in effect, the lower the benefit amount on death. This type of insurance is a good choice when you have a level-payment mortgage, as the right amount will be insured throughout the term. With most insurance companies, the period on which premiums are paid will be shorter than the term of the insurance. Please bear this in mind when comparing insurance companies.
The insured amount decreases every year by a fixed amount in line with the term of the insurance. In other words, the longer the insurance is in effect, the lower the benefit amount on death. This type of insurance is the best choice when you have a straight-line mortgage. With most insurance companies, the period on which premiums are paid will be shorter than the term of the insurance. Please bear this in mind when comparing insurance companies.
The insured amount is the same throughout the term. This type of insurance is generally the optimum choice if you have unchanging debts, such as an interest-only mortgage. Or you may select it if you wish to provide for additional income after your death.
