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A death has a lot of impact, emotionally and financially. It is therefore important for people to be aware of the consequences of the death of a loved one, housemate or family member. To prevent surviving relatives from getting into financial problems after a death, term life insurance (ORV) is often a good and affordable solution. It is important that consumers are well informed so that they can make an informed decision about whether or not to take out an ORV. The Association therefore works together with insurers and social parties on good information and good distribution channels. You can find out how we do this on this theme page.

Increasing financial vulnerability

A number of social trends and developments in legislation and regulations are leading to increasing financial vulnerability in the event of death. For example, we see an increasing number of self-employed people and employees without an (adequate) pension scheme, and therefore without a survivor's provision. In addition, we have seen housing costs rise sharply in recent years, both for homeowners and tenants. Nevertheless, the number of term life insurance policies taken out is not increasing.

Not being able to cope with the financial consequences after death is a real risk for these groups. A loss of income due to the loss of a breadwinner can lead to insufficient opportunities to pay off the mortgage or pay the rent, resulting in forced relocation. Or a lifestyle adjustment.

The Association believes it is important to combat the financial vulnerability of consumers wherever possible. Partly because this entails major social costs. The main purpose of term life insurance is to cushion the negative financial consequences of a death so that the next of kin can continue their lives in the best possible way. This social role of the ORV must be strengthened.

Raising awareness

Together with our members and stakeholders, the Association works to stimulate awareness by better informing consumers and providing insight into the risks. In doing so, the Association focuses primarily on potentially vulnerable groups such as homeowners, tenants, entrepreneurs and employees without survivors. The vulnerable groups are those whose expenses are (much) higher than their income after death. To achieve this goal, the Association works together with budget advisers and representatives of vulnerable groups and consumers with. Together, we look at when and in what context neutral information provision can reach these target groups. Think of the start of a business when registering with the Chamber of Commerce, concluding an NHG agreement or entering into a rental contract.

Well-functioning distribution channels

It is important that consumers who are aware of their risk of death and want to make arrangements for it, are properly helped in the way that suits them. Because this is the only way we can ensure that awareness also leads to a conscious choice. Therefore, the various distribution channels must function optimally. For some consumers, this means good and accessible advice from a financial adviser. For others, this means direct contact with an insurer, or a visit to a comparison site. After all, some consumers know how to find their way around on their own, while others need some help. The Association is therefore committed to optimally functioning channels, which fully meet the needs of vulnerable groups. This means that unnecessary barriers must be removed, that the financial person must be able to advise on the risk of death, and that people who want to take out something themselves must be able to do so easily.

Consumer information

On vanatotzekerheid.nl , consumers can find general information about insurance. The website is based on life events such as buying a house, death and retirement in relation to insurance. You can also find information about term life insurance with this testimonial, among others:

 

Learn more
Would you like to know more about medical acceptance or what an illness or condition means for taking out an ORV? Take a look at the Medical Acceptance theme page or our explanation of how to complete a health declaration.