Most people have insurance cover on death with a tax-free minimum amount of DKK 500,000. This is the minimum amount your beneficiaries are guaranteed to receive if you die before you start taking money out of your pension savings.
You can change this amount to suit the needs of your beneficiaries. You may want to increase the amount if you have children. If you are alone you may want to reduce the amount.
The Health Scheme gives your child access to a range of healthcare services, such as physiotherapy, examination at a private hospital, and the option to speak with a psychologist or psychiatrist.
With the Health Scheme, your child can get back to the activities that matter in everyday life.
With the Critical Illness insurance for children, you can give your family extra security. If your child is diagnosed with one of the covered illnesses, you can receive a tax-free lump sum payment of DKK 100,000 or DKK 200,000.
This can give you financial peace of mind during a difficult time – allowing you to focus on being there for your child and the rest of your family.
You can choose that you want certain people to receive the money when you die.
If you do not choose anyone, the money will automatically go to your next of kin. This is a good solution for most people. The order is:
If you are happy for your next of kin to benefit, you do not need to do anything. But if you want your savings to be distributed between your spouse and your children, for example, you need to actively make this change.
It may be a good idea to check who will benefit from your pension scheme when you die. If you have already decided that your ex-partner should benefit, you may want to change this now.
You could also consider whether you want to increase your insurance cover on death, for example, if you have children you would like to provide for.
