Claims on Life Insurance policies
Fill in the claim form on the right side. You can then either print and mail the form to us or, if you are our customer, save it on your computer and send it as an attachement to a Message in our Web Service. The form is available in Finnish. If you need any assistance with your application, please contact our Customer Service.
In addition to the claim form, the attachments needed to process the claim are:
- extract from the personal register of the insured from the age of 15 (the same as for an estate inventory)
- beneficiary's official certificate from the parish or population registers
- if the beneficiary is a company, copy of the entry in the companies' register (not to be more than 3 months old)
- in the case of accident insurance the final death certificate is also required
Send the claim form with the necessary attachments through our Web Service or by mail to the following address:
Asiakasposti / 2011
The compensation is paid in accordance with the beneficiary clause to each beneficiaries' bank account or if wished in accordance with the beneficiaries' signed letter of attorney.
If the beneficiary is legally incapacitated, the compensation will be paid into an account stipulated by his/her legal guardian. Information about the payment made will be send to the local register office.
The beneficiary can also have the whole sum or part of it transferred to an investment insurance policy. Further information about investment insurance policies is available from our service number 0200 31100 and from our web pages.
Family: Half of the insurance amount is paid to the spouse and half to the inheritors as specified in the inheritance code. If there are no direct heirs then the spouse receives the whole of the insurance payment. If there is no spouse, the inheritors receive the insurance compensation. A copy of the insured person's extract from the personal register, i.e. an unbroken chain extracts from the parish or population registers of the beneficiaries of the insured person from the age of 15 onwards is required as an attachment or a copy of the estate inventory which shows those who will share the death estate.
Children: The insurance compensation is divided equally between the direct heirs. An unbroken chain of official certificates from the parish or population registers is required as an attachment for those from the age of 15 and extract from the parish or population registers for the children.
Spouse: An official certificate which shows the marriage information of the insured person is required as an attachment.
Death estate: The insurance compensation is paid to the death estate and is then divided on the same bases as other inheritance. The insurance compensation thus becomes part of the death estate assets and is thus also to be divided between possible creditors. As an attachment is required the following: the official certificate showing the position of the signatory of the insurance claim as a shareholder in the estate and a clarification that the insurance compensation is to be paid to the account of the estate (e.g. copy of the bank statement).
Named beneficiaries: The insurance compensation will be divided equally according to the number of people between the named beneficiaries. If one of the named beneficiaries dies before the person insured, their share of the future compensation is normally divided equally between the other named beneficiaries. The beneficiaries' official certificates are required as an attachment which shows the relationship between the insured person and the beneficiary.
Children and grandchildren: The insurance compensation is divided between the children and grandchildren living at the time of the insured person's death according to the number of people. The official certificates for the insured person and the children are required as an attachment as specified in the section "Children" or a copy of the document showing their ancestry.
A separate certificate of the balance is not required because the insurance claim decision will show all the information that has to be communicated as further information to the estate inventory deed i.e.:
- The name of the insured person
- The policy number
- The total amount of the life insurance payment and
- The beneficiaries
The taxation of life insurance compensation is based on the tax legislation in force.
Insurance compensation paid to next-of-kin of the insured person are subject to inheritance tax once the total exceeds EUR 35,000 per beneficiary.
Next-of-kin are regarded as:
- people registered as living as a couple
- children, adopted children and their children as well as foster children
- spouse's children
- parents and grandparents
A widow or widower may receive a larger tax free sum as her/his tax free sum is always half of the life insurance compensation, however no less than 35 000 euro.
An unmarried partner, in the event that s/he is mentioned by name as a beneficiary, is regarded for tax purposes as a next-of-kin if the partners have lived continuously together as if married and they have earlier been married or they have or have had a child together.
For those other than next-of-kin, the life insurance compensation is wholly subject to capital gains tax (30 %).
Life insurance compensations are to be entered in the estate inventory deed's additional information. The life insurance compensation should not be regarded as being part of the deceased's assetsif the insurance policy has a valid beneficiary clause. Only if the beneficiary is an estate, the tax free part of the EUR 35,000 of the life insurance compensation per specified beneficiary is recorded as part of the deceased's assets.
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