Single payment permanent disability benefit
Disability lump sum is an insurance policy that secures your finances with a lump sum payment should you become permanently incapacitated for work.
When an illness or accident occurs, you may become fully or partly incapacitated for work. This involves major changes in life, including a reduction in your earned income. Disability lump sum is a type of disability insurance which gives you a lump-sum payment as compensation for reduced income due to being incapacitated for work, in addition to what you get from the government.
Disability lump sum with advance payment
The one-off payment you receive with disability lump sum is paid in the event that you become permanently incapacitated for work to at least 50%, and after a continuous period of two years.
With advance payment, a monthly payment of this one-off amount is started earlier. You will thus be paid part of the lump sum in advance, until your status as permanently incapacitated for work has been granted and the rest of the lump sum can be paid out in full.
Request a quote for disability insurance with disability lump sum. We will recommend you the insurance we think fits you best.
Benefits with disability lump sum
One-off payment adapted to your income
Full disbursement from 50% permanent incapacity for work
Advances on disbursements from your sum insured
The advance payment starts after 12 months of sickness benefits
Up to five years in advance
Monthly advance payment can be paid for a total of five years
No grading – full disbursement
No graded disbursement according to the degree of disability
Maintain your standard of living and ability to pay
Use the disbursements for your home mortgage, expenses and whatever you want
A reasonable alternative of disability insurance
Disability lump sum is the most reasonable disability insurance we offer
Combine disability lump sum without advance payments with a disability pension
The disability pension gives you monthly disbursements until you are 67 years old
Payment exemption for the insurance when you are incapacitated for work
As long as the advance payment is made
Tax-free payment
The one-off payment you receive is tax-free
Disbursement of disability lump sum
If you can’t work anymore due to disability, you’ll receive work assessment allowance (AAP) or disability benefits from NAV (the Norwegian Labour and Welfare Administration). The support from NAV will not cover your entire lost income. Without insurance, thisincome gap may mean that you have to change your lifestyle.
Therefore, the recommended sum insured in the disability lump sum is based on your income. You are still free to choose the sum insured yourself. With disability lump sum, you are guaranteed a lump-sum payment for permanent disability, which can, for example, be used to pay down loans or adapt to a new life without a full salary.
When does the insurance pay out?
Disability lump sum is paid out after you have been at least 50% incapacitated for work for a continuous period of two years, and the degree of disability is considered permanent.
If you have disability lump sum with advance payment, monthly disbursements start after you have been at least 50% incapacitated for work for a continuous period of one year. The advance payment can be made for a maximum of five years.
Combine disability lump sum with a disability pension
Do you want extra peace of mind? You can choose to combine the one-off payment you receive with disability lump sum with monthly disbursements in the disability pension. The disability lump sum will then be without advance payment.
Do you have any questions about purchasing disability lump sum?
Speak to an insurance adviser.
Have you had an accident or damage?
You can easily report a claim online.
What does the government cover?
In Norway, people who experience incapacity to work initially go through a sickness benefit period with sickness benefits. After this period, you will move over to work assessment allowance (AAP) before you can finally be granted disability benefit.
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Terms and conditions for disability lump sum
General Terms and Conditions Personal Insurance (PDF)
Single payment permanent disability benefit terms and conditions (PDF)
Disability lump sum product information (PDF)
If you already have disability insurance with us, you need to log in to the online bank or mobile banking app to check the terms and conditions that apply to you.
If it’s been a long time since you’ve last bought disability insurance and you want the latest terms and conditions, you can contact us about what’s new in the current insurance policy and get help upgrading to the current terms and conditions.
FAQ
DNB News about disability
Fremtind Forsikring
As a DNB customer, you get insurance supplied by Fremtind Forsikring – one of Norway’s largest insurance providers, with extensive experience. You are still a customer of DNB, and should contact us if you want to buy insurance, make changes, make a claim or have any questions.
To give you an offer, DNB will share your personal data with Fremtind. You can see how this is processed in Fremtind’s personal privacy statement.