You can hope for good luck, but you can’t order it
Disability cover allows you to maintain your standard of living and ensures, for example, that you can pay your debts if you become disabled.
An entrepreneur’s work input is often crucial for the company, and even a brief absence is directly reflected in the company’s profits. When you are prepared in the event of a disability, you also secure your family’s livelihood.
Voluntary disability covers provide the entrepreneur with support for short-term and permanent disability and allows to maintain the standard of living.
If you have to be away from work for some time due to an illness or accident, you will receive a sickness allowance from the Social Insurance Institution of Finland (Kela). The amount of your sickness allowance is calculated on the basis of your self-determined earned income under the Self-Employed Persons’ Pension Act (YEL).
The earned income reported by entrepreneurs is often too low, and the daily allowance granted by Kela is thus insufficient to cover the entrepreneur’s desired income level during a period of disability.
Mandatum Life’s insurance cover for short-term disability gives you agreed supplementation of your daily allowance for all disability days that come after the waiting period.
The insurance cover ends at the latest when you turn 60.
If you become permanently disabled due to an illness or accident, you will receive disability pension based on your earned income under the Self-Employed Persons’ Pensions Act (YEL). Cover for permanent disability supplements the amount of your disability pension, which is rarely more than half of your earned income.
Under the insurance, you or your company will be paid an agreed lump sum compensation. You can choose the amount of the insurance cover. A sensible compensation sum will usually cover both your personal debts and your company’s debts and liabilities and safeguard the continuation of your business and your income.
A disability is considered permanent if it has continued uninterrupted for at least one year. The insurance cover ends at the latest when you turn 65.
Calculate the monthly cost of permanent disability insurance cover that is right for you.
Fill in the information below and the amount of compensation you would like to receive, and you will see the monthly cost of the permanent disability insurance cover that is right for you. The cost of the insurance cover is calculated for private individuals.
Insure yourself and pay it forward
By insuring yourself, you can help to secure the life of a disadvantaged child or youth in case of injury. We will donate a sum corresponding to some 1 per cent of the first-year insurance premiums of all of our new risk insurance customers in order to arrange accident insurance. This means that more than 1,000 children and adolescents will receive accident insurance each year.
Mandatum Life works together with the Tukikummit foundation. The assistance granted by the Tukikummit foundation supports Finnish children who are from disadvantaged families and in danger of being marginalised due to financial reasons.
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