Term Life Cover : the risk insurance policy

January 21, 2021. Bâloise Vie Luxembourg launches Term Life Cover in Finland : a pure risk insurance policy.

Advantages of the policy

  • Cancellation at any time
  • Flexible solution that can be adapted to your specific needs
  • Tax optimized tool for companies to reward their key persons and/or secure business continuity in the event of death of the key person (3)

You would like to know more about our products or about the taxation applicable in the event of a Luxembourg contract being taken out by a Finnish resident?


(1) The Policy does not have a cash surrender value. In the event that the Policy is terminated or the Term expires prior to the death of the Insured Person, no payment will be made and no Premiums will be returned
(2) The death coverage attached to the TLC insurance terminates automatically on the 95th birthday of the Insured Person.
(3) Applicable only for Key Man Insurance solution. It enables the Company (employer) to arrange financial security for its key employee’s close relatives or the Company itself (which are nominated as beneficiaries).  Insurance premium paid by the employer do not constitute a taxable benefit/income to the employee; insurance premium contributions paid by the employer are deductible expense for the company, assuming that all relevant requirements set out in the applicable legislation are satisfied. Moreover, the death benefit paid by the insurance company is tax-free income if the  beneficiary is the insured’s spouse, child, other close relative or estate.  However, the death benefit is taxed in accordance with the inheritance taxation. In case the death benefit is paid to the employer, it is considered as taxable business income.


Other news


November 14, 2019

Bâloise LifeSessions Helsinki

This Thursday 14th of November, Bâloise is in Helsinki for a Bâloise Life Session with its partners.