The insurance amount will be paid out if you die during the insurance period. It does not matter if the cause is an accident or an illness.
More About Life Insurance
- If you have others to support and have financial obligations, it is wise to consider life insurance. You decide the insurance amount and who will be the beneficiary in the event of your death.
- Life insurance benefits are paid out in a lump sum and are tax-free and tied to inflation. It is important that the life insurance amount reflects your current obligations and family circumstances; if there are any changes in your circumstances, it may be prudent to review the terms of the insurance.
- You can apply for life insurance if you are between the ages of 18 and 62 and it is valid until the age of 75. From the age of 55, the life insurance amount decreases by a certain percentage annually, but the premium remains the same.
- Your children are automatically insured through your life insurance from the time they are born until the age of 18. The amount of benefits is ISK 2 million for each child.
- If you have a child during the insurance period, you can increase the amount of your life insurance by up to 25% or a maximum of ISK 5 million without having to undergo a special health assessment.
Why choose VIS?
- We offer the highest maximum life insurance age with our insurance being valid until the age of 75.
- We offer the highest possible increase in the insurance amount if your family grows without requiring a special health assessment.
- We offer the highest child life insurance benefit or ISK 2 million.
- You can apply for the insurance online in a quick and easy manner.
The insurance amount will be paid out:
- If the policyholder dies as a result of accident or illness.
- If a child of the policyholder, from birth to the age of 18, dies as a result of accident or illness
The insurance amount will not be paid out:
- If the policyholder dies due to a suicide that occurs within one year of the insurance being taken out.
- If the death of a child can be traced directly to a condition of the child that existed prior to the insurance taking effect.
Please note that the above list is not exhaustive. Further information can be found in the insurance terms.
In case of discrepancy between this list and the insurance terms, the insurance terms applies.
Do You Need More Coverage?
Critical Illness Insurance
No one expects to lose their health due to a serious illness, but the fact is that it can happen to all of us. Critical Illness Insurance provides financial protection and ensures that you will receive compensation if you are diagnosed with any of the diseases covered by the insurance.
Accident Insurance protects you if you suffer broken teeth and permanent medical disability following an accident. The insurance is valid anywhere in the world and covers both accidents at and outside of work.
Sickness Insurance provides you with benefits if you are diagnosed with a disease that leads to permanent medical disability or temporary loss of work capacity.
Child Insurance protects parents or guardians against loss of income and unforeseen costs due to a serious accident or serious illness of a child.
The insurance terms is your contract with VIS. It is important to thoroughly read the terms and understand what is covered and what is not, before purchasing the insurance.
If you have Life and Health Insurance
you may also be interested in the following insurances.
Family and Home Contents Insurance
What we all have in common is that we can encounter unexpected events in life that cause damage to possessions or accidents to people. Therefore, it is important that you have appropriate coverage for your family and your belongings.
Buying a property is usually the biggest investment we make in our life. It is therefore important that we make sure that the property is properly insured to minimize the financial consequences of property damage.
All of us can make mistakes while driving or find ourselves in a situation that results in damage. Therefore, it is important to have good motor vehicle insurance.
Are you planning a trip? Whether you are travelling for pleasure, study, work or other reasons, we recommend that you check whether you have travel insurance that suits you.
Animals need insurance just like any other family member. We have extensive experience in insuring animals and offer several types of animal insurance for horses, dogs and cats that you can combine according to your needs.