* Outstanding balance insurance for businesses is a term insurance policy that provides cover for a specified period. It is a Belgian-law branch 21 death benefit policy that is marketed by AG SA and distributed by BNP Paribas Fortis SA.
Three formulas for premium payments
A single premium, periodic premiums or risk-related premiums: choose what suits you best.
Single premium
You pay the entire premium immediately. This way, you may get a substantial tax benefit from the start, and you’re covered for the entire term of your loan.
Periodic premiums
You split the total premium into annual instalments. You determine the impact of these premiums on your budget and tax position.
Risk-related premiums
If you take out outstanding balance insurance with risk-related premiums, you pay an annual premium for the entire term of the policy. It’s a formula that allows you to spread the cost as much as possible.
Outstanding balance insurance for businesses* is a decreasing term life insurance policy. It provides for the payment of a predetermined death benefit to the beneficiary designated by the policyholder in the event that the policyholder dies before the end of the policy. During the term of the policy, the amount insured decreases periodically according to specified criteria.
Outstanding balance insurance for businesses* is, in principle, linked to an investment loan, as it aims to repay some or all of the outstanding loan balance in the event of the policyholder’s premature death. This is why the insured amount decreases in proportion to the outstanding loan balance (known as “amortisation”).
To qualify, the policyholder’s death must fall within the scope of the policy’s standard terms and conditions, regardless of the country where it occurs.
the policyholder dies as a result of a deliberate act or at the instigation of a beneficiary of the policy;
the policyholder commits suicide within the first year of the policy taking effect;
the policyholder dies in Belgium as a result of participating in a (civil) war.
The following documents will provide you with more information about outstanding balance insurance for businesses*:
Outstanding Balance Insurance for businesses* is a Belgian-law branch 21 term life insurance policy that provides cover for a specified period. This product is marketed by AG and offered by BNP Paribas Fortis.
If you have any questions, you can first contact your advisor or consult article 21 of the standard banking terms and conditions.
If you have a complaint, you can contact us at BNP Paribas Fortis SA, Complaints Department JQABD, Montagne du Parc 3, 1000 Brussels, tel. 02 228 72 18, gestiondesplaintes@bnpparibasfortis.com or via www.bnpparibasfortis.be > Suggestions or complaints > online complaint form.
If you’re not happy with the proposed solution, you can send your complaint by post to the Insurance Ombudsman, Square de Meeûs 35, 1000 Brussels, BCE: 884.072.054, tel: 02 547 58 71, info@ombudsman-insurance.be - https://www.ombudsman-insurance.be
This branch 21 policy from AG allows you to preserve your relatives' standard of living while also ensuring the continuity of your business.
Protect your income with guaranteed income insurance, which will allow you to receive a monthly supplement to your statutory benefits if you’re unable to work.
Add death benefit cover to your insurance-based pension plan. Your beneficiaries will receive a fixed minimum lump sum or an additional lump sum in addition to the reserve built up in your policy.
AG Insurance SA/nv – 53 Boulevard Emile Jacqmain, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0404.494.849 – https://www.aginsurance.be - info@aginsurance.be. Accredited insurance company licenced under code number 0079, under the supervision of the National Bank of Belgium, 14 Boulevard de Berlaimont, B-1000 Brussels.
Intermediary: BNP Paribas Fortis SA/nv – 3 Montagne du Parc, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0403.199.702, registered with the FSMA, 12-14 Rue du Congrès, B-1000 Brussels, under code number 025879 and acting as a contractually appointed insurance agent on behalf of AG Insurance SA/nv. BNP Paribas Fortis SA/nv holds a stake of more than 10% in AG Insurance SA/nv.
