Mortgage protection is made up of two insurance policies that can help you to keep up with mortgage payments if there are sudden changes to your life situation, such as injury, illness, involuntary unemployment or a death. There are two components to the insurance: Bolåneskydd Liv (Mortgage Protection Life) and Bolåneskydd Betalskydd (Mortgage Protection Payment Protection). It is up to you whether you sign up for both of these or just one.
Mortgage protection
Financial security when the unforeseen occurs.
A chance to stay in your home, and time to create a new life situation
Sign up for one or both
Mortgage Protection Life
Mortgage Protection Life ensures your family are not forced to move in the event of your death. You insure your mortgage, and the insured amount is paid out to the beneficiary of your choosing.
The insurer is Handelsbanken Liv.
- The amount is paid directly to the beneficiary, who is free to decide how the money is used.
- No tax is payable on the lump sum payment.
- You can insure up to a maximum amount of three million SEK per person.
- The insurance is valid until you reach 70 years of age.
How much does it cost?
The premium is based on the age of the policyholder and the insured amount. For example:
If you are 30 years of age and have insured SEK 1 million, you pay a monthly premium of SEK 56.
If you are 50 years of age and have insured SEK 1 million, you pay a monthly premium of SEK 140.
Mortgage Protection Payment Protection
Mortgage Protection Payment Protection can help to cover monthly mortgage payments, and provides an extra layer of security if you need time to resolve a new life situation, focus on your health or find a new job.
The insurer is BNP Paribas Cardif.
- Mortgage Protection Payment Protection covers monthly loan fees, interest and any mandatory amortisation for the mortgages protected under the insurance policy.
- Insure an amount of up to SEK 20,000 per month.
- The pay-out goes directly to you, the customer.
- When signing up for Mortgage Protection Payment Protection, the insurance is free of charge for the first 3 months.
How much does it cost?
The premium is 3.80% of the insured amount. For the maximum permitted insurance amount, the premium is SEK 760/month (3.80% x SEK 20,000).
Who can take out mortgage protection?
Mortgage Protection Life
- You have a mortgage with Handelsbanken (Stadshypotek).
- You are at least 18 years old but under 64.
- You have passed a mandatory health check.
- You live in Sweden.
Mortgage Protection Payment Protection
- You have a mortgage with Handelsbanken (Stadshypotek).
- You are at least 18 years old but under 64.
- You are fit and healthy, and able to work.
- You are in permanent employment or are self employed, working at least 17 hours per week for the past six months.
- You live in Sweden.
How to sign up
- Complete a needs analysis together with your advisor.
- You will receive an sms and email with an application link from BNP Paribas Cardif and/or Handelsbanken Liv.
- Sign the application using Mobile BankID.
Contact your branch to start the process.
Making a claim
Mortgage Protection Life
In the event of your death, Handelsbanken Liv informs the estate of the policy and attaches an insurance claim form. The payment is made by Handelsbanken Liv.
Should you have any questions, contact Handelsbanken Liv via BNP Paribas Cardif
Tel: +46 (0)774 42 01 01
Email: handelsbankenliv@bnpparibascardif.se
Mortgage Protection Payment Protection
If you cannot work due to illness/injury, or involuntarily become unemployed, you notify BNP Paribas Cardif.
Send your notification here Opens in a new window
Should you have any questions, contact BNP Paribas Cardif
Tel: 0774-40 02 01
Email: info@bnpparibascardif.se
FAQ
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The insurance policies you need are entirely dependent on your specific life situation. Mortgage protection can protect your and your family’s finances if you or your partner become ill, unemployed, or pass away. This may be the difference between your family being able to stay in your home or being forced to leave in the event of a drop in income.
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If you have one of the earlier loan protection policies (Loan Protection with Security Capital or Loan Protection taken out before 2003) and would like to sign up for Mortgage Protection Life instead, please talk to your advisor for help with finding the right insurance policy for you. If you would like to retain your existing loan protection, Mortgage Protection Income can be added as a supplement.
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For Mortgage Protection Life, the following applies:
- You have, or will have, a mortgage with Handelsbanken (Stadshypotek).
- You are at least 18 years old but under 64.
- You have passed a mandatory health check.
- You live in Sweden.
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For Mortgage Protection Payment Protection, the following applies:
- You have, or will have, a mortgage with Handelsbanken (Stadshypotek).
- You are at least 18 years old but under 64.
- You are fit and healthy, and able to work.
- You are in employment or are self-employed*, and have been for at least 180 days prior to the insurance policy starting, working at least 17 hours per week. Any trial period of employment is included in these 180 days, provided that the trial period progressed, with no break in time, to full employment.
- You are fully able to work, insofar as you:
- can perform your work duties unimpaired
- are not entitled to compensation related to illness or injury
- do not have subsidised employment due to illness or injury, nor a specially adapted job
- have not received compensation for illness or injury for a period of more than 30 consecutive days during the 360 days prior to your application. - You live in Sweden.
*Employment means permanent or temporary employment with an agreed period of employment of at least 12 months. Self-employed means that you operate and work in a company for at least 17 hours per week, in which the business, either in part or in full, is taxed as your economic activity.
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This information can be found on the Loan overview page, under the Loans menu. Log in Opens in a new window
You can also find information about your loan protection in the app, under the Loans menu.
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After a qualifying period and a waiting period, the insurance provides compensation equivalent to the insured amount (the maximum monthly cost for the loan and up to SEK 20,000). In the event of unemployment, Mortgage Protection Payment Protection includes days on which unemployment benefit is received, while in the event of illness or injury, the amount depends on the degree of disability.
Unemployment
Qualifying period: 90 days
Waiting period: 30 daysDisability
Qualifying period: 30 days
Waiting period: 30 daysQualifying period: Qualifying period is the time from the start date of the insurance policy during which you must have had the policy before the coverage becomes applicable. No compensation is provided for insurance claims arising during the qualifying period. The qualifying period begins on the first day of the insurance policy.
Waiting period: The waiting period is the time starting from the point of the insurance claim. No compensation is provided from the insurance policy during this period.