Norway is becoming more popular with people who want to work and live in a country that offers a great quality of life. ex-expatriates From Europe and beyond, including the USA. Here’s advice for those who are planning to relocate to the USA, whether it is to do business or to settle in.
We often underestimate the importance of a well-chosen policy because we are young and healthy. Younger people tend to think that life insurance is a costly investment.
It’s a waste of money that may never be used, and it doesn’t provide immediate benefits.
You should also consider life insurance as a way to protect your family. The insurance will protect your family in the event of your death, or if you lose your health.
Why Life Insurance?
You could ask – ok, but why invest in it now, when I am completely fine, and there is no risk that my health will worsen soon?
The answer is simple – we are now living in uncertain times, for example, the outbreak of coronavirus in Wuhan, China that’s now a global pandemic. Everything can happen and it will. The insurance companies will find it harder to accept you and issue you a policy if you are older or less healthy.
A fatal accident is also a possibility.
Statista statistics reveal that Norway has seen an enormous drop in road fatalities. However, if you are driving or traveling by road there is still a risk. 20 deaths per million inhabitants. A car accident, or an accident that you didn’t expect can be fatal.
Life insurance can protect you and your family by covering serious illnesses or disabilities as well as death. When is it worthwhile to invest in life insurance? In certain cases, it’s a good idea to invest in this type of insurance. First applies to workers in the country who have family in the country or abroad – even temporary ones. Second – when you are moving out from Norway to the countries that tend to have higher prices for insurance rates.
Age Limits
How do I get life insurance in Norway? The most important thing you will need is the personal number call “Fødselsnummer” in the Norwegian language. There is also an age restriction. The age limit for applying to these policies is 67.
Be aware of what you are getting
You should be aware of the terms used when purchasing life insurance policies in Norway. Many foreign customers believe they are buying a comprehensive policy that covers them for all eventualities, but they could only be purchasing the policy to protect their family in the event of an accident.
Norwegians refer to both policies (i.e. Life insurance includes insurance against death due to an accident, and also insurance against death caused by illness or other health problems.
In Norwegian, they are called ulykkesforsikring (from accidents) and livsforsikring (from death). The Norwegian language has two names for it, i.e.
This article was prepared in collaboration with LOCALMARKET.
