Although it is not the most pleasant topic to contemplate, unexpected events could have a big impact on your life. You can take out different types of insurance to cover the damages in these cases. Before you take out an insurance policy of this kind, please make sure you understand the conditions for you to receive these benefits. It is therefore advisable to seek the advice of an insurance intermediary (tussenpartij) before making your decision.
If you take out a life insurance policy (levensverzekering), your surviving family members (partner and/or children) will be issued some percentage of your income in the event of your untimely death. If you buy a house and live there with your family, your life insurance will cover your mortgage excess (in the Netherlands, this is a requirement of getting a mortgage from the bank), and your surviving family members will not have to worry about these costs. As there are as many insurances for different life situations, it is smart to do some research – possibly with the help of an intermediary. This will help you to find the insurance policy that suits your needs best.
(Foreign) funeral insurance
Funeral insurance (uitvaartverzekering) is something to consider. This is especially relevant for expats. In the event of a death in the Netherlands, surviving family members often wish the body buried or cremated in the country of origin, which could be very costly. If you want to take out a funeral insurance policy, please make sure –if applicable– that it will cover the costs of a foreign funeral and appropriate travel for the deceased. There are several service providers in the Netherlands who specialise in (foreign) funerals or offer insurance for these kinds of funerals.
Income insurance and accident insurance
There are two types of insurance that will cover the consequences of accident-related damages or the loss of your income: income insurance (inkomensverzekering) and accident insurance (ongevallenverzekering). Before you arrange one of these types of insurance, make sure whether this insurance is helpful in the event that one of these things happens. What if you have an accident or lose your source of income, and decide that you want to return to your country of origin? Find out in advance – possibly with the help of an intermediary – which insurance would be helpful to you if you want to conclude an insurance policy to cover these eventualities.