Life insurance (known in Dutch as overlijdensrisicoverzekering or ORV) pays a sum of money to the surviving dependents (beneficiaries) if the insured person dies during the term of the insurance. By taking out a life insurance policy, you are providing your family with financial security. Life insurance can be a good idea if you are a homeowner, have young children, or have not built up sufficient pension. In brief, it’s handy if you want to make sure your dependents will be financially secure after your death. Looking for advice? Call us.
Not the same as life insurance
There is no such thing as a single type of life insurance. The word is often used as an umbrella term for a group of insurance policies. The moment when the lump sum payment is issued depends on if and when the insured party dies. Life insurance and funeral insurance is paid when the insured person dies. Endowment insurance or an annuity policy (also types of life insurance) will be paid while the policy holder is still alive. But pension, savings or investment insurance are life insurances in the category of mixed insurance. Need advice for choosing the insurance you need? We’ll help you right away.
Life insurance and obtaining a mortgage
If you are taking out a mortgage guaranteed by the Dutch government (an NHG mortgage), you will be required to have life insurance. If you want to buy a house, other mortgage lenders may also insist that you have life insurance. In these cases, the life insurance policy will be mortgaged to the mortgage lender. This means that the amount to be paid will be transferred directly to the mortgage broker in the event of your death. It is often cheaper to buy life insurance cover separately. Wanting to compare life insurance policies? We work with different providers. Get in touch. And we’ll help you to choose and buy the right type of policy for you.
Switching insurance companies?
Planning on changing your insurance company? Then it’s good to know that it’s a straightforward process. Although, in certain instances, costs may be involved. If your current life insurance policy is mortgaged to your mortgage lender, they’ll need to approve the switch. So, if you’re thinking about changing companies, get in touch. We’re here to help.
Who are we?
NAHV Belastingadviseurs is the finance and accountancy firm where you can ask the questions you never dared to ask. We specialise in tax and administrative solutions, and financial advice for (creative) entrepreneurs. We have over 3,500 regular clients ranging from artists, TV personalities, to journalists, architects and many other professionals and companies in the creative and cultural sector, as well as lawyers, independent contractors in the construction sector, physiotherapists and countless other professions. Whether you’re a freelancer or self-employed professional, director and major shareholder of a private limited company or a general partnership, we help everyone.
Our office has served Amsterdam and the surrounding area for 25 years. We have in-house experts, work as a team, take a proactive approach, and can keep the costs manageable.
Work with us
Would you like to know more about taking out a life insurance policy? Or do you have other financial matters that we can help you with? Get in touch by email or phone. And we’ll help you right away.