Find information about group life insurance

What is a group life insurance? 

A group life insurance policy covers critical illnesses and death, ensuring financial security for you and your family.

Do I need to fill out a health declaration? 

When you take out group life insurance for yourself and your family, you must provide information on your health. You can answer our health-related questions using our online insurance calculator. 

If we have any questions or concerns regarding your health declaration, we will contact you to obtain any additional information we may need. Once your insurance policy is active, you will not be required to complete further health declarations.

What diseases give entitlement to compensation? 

The insurance policy covers an extensive list of critical and terminal illnesses. Please find the list of covered diseases below:

• AIDS
• Amyotrophic lateral sclerosis (ALS)
• Severe disease of the main artery (aorta)
• Blindness (practical)
• Coronary thrombosis (a blood clot in the heart)
• Creutzfeldt-Jakob disease Deafness (total)
• Cardiovascular surgery due to coronary arteriosclerosis (by-pass/PCI)
• HIV Infection (due to blood transfusion or occupational infection)
• Heart valve surgery due to heart valve defects
• Chronic heart failure
• Life-threatening heart rhythm disturbances
• Chronic renal failure
• Primary Idiopathic Parkinson's Disease
• TBE and Lyme disease(inflammation of the brain or meninges
• Severe burn injuries
• Major organ transplants
• Sac-shaped dilation of the brain's artery
• Certain benign tumours of the brain or spinal cord
• A pulmonary embolism (PE)
• Myasthenia Gravis (MG, extreme muscle fatigue) 

Terminal diseases:

• Most cases of cancer
• Coronary thrombosis (a blood clot in the heart)
• Cerebral haemorrhage/blood clot in the brain (stroke) with permanent consequences
• Multiple sclerosis
• Muscular dystrophy
• Parkinson's disease 

When am I not entitled to compensation? 

Your insurance covers many critical illnesses, so you can feel secure knowing you are protected. However, there are certain cases where the insurance will not cover sickness. For instance:

• It will not be covered if you were diagnosed with an illness before you created the insurance policy.
• The first three months after establishing the insurance policy are considered a waiting period, so any diagnoses made during this time will not be covered.
• If you are diagnosed with the same type of illness again, you will not receive compensation from the insurance. However, there are special rules that apply in the case of cancer.

What will be the amount of compensation that I will receive?

If you suffer from a critical illness eligible for coverage, you will receive a lump sum of DKK 131,000. 

If you pass away immediately after receiving the payment for certain critical illnesses, the amount will not be deducted from the life insurance payment. 

The payout you receive in case of a critical illness depends on the sum you have chosen as life insurance. You can either get 950,000 kroner or 475,000 kroner. 

Once you turn 58, there will be an annual depreciation of 1/10 of the original insurance sum. 

Please refer to the details here to see your payout by age at high and low coverage.

How long does life insurance cover me?

You can purchase insurance until the day before you turn 66, and it will remain valid until the last day of the month you turn 67. If you decide to terminate your IDA membership, the insurance coverage will end at the end of the year.

Where can I view my group life insurance? 

If you want to learn about your group life insurance, check out the Nordea Pension website.