Having a repayment cover on your pension insurance means that your surviving dependents (husband, wife, cohabiter, and children) continue to receive your pension payments in the event of your death. It also means that your own pension will be lower. If you do not make an active choice, your insurance will not include repayment cover.
You add or remove your repayment cover by filling out our form.
Add repayment cover
You can add repayment cover:
- with in months from payment of the first premium for your insurance
- within a year from getting married, cohabiting or having children
- to future premiums in a new insurance.
You cannot add repayment cover once you have started to withdraw your pension.
Remove repayment cover
You can remove repayment cover before you have started the withdrawl of your pension.
What does repayment cover cost?
If you choose repayment cover your pension will be lower. This is because by choosing repayment cover you do not receive part of the inheritance gain. The inheritance gain is the pension capital remaining in insurances without repayment cover following the death of the insured person and which is shared among all other insurances that do not have repayment cover.
The cost of repayment cover is not exact since it depends on future returns and the actual lifetime of insured persons in the society. The table shows some examples of what repayment cover is expected to cost in terms of a lower pension from different ages. The figures are based on you having repayment cover from start and continue to be a government employee until the age of 65.
|You are||Payment in 5 years||Payment for life|
|25 år||-6 %||-10 %|
|55 år||-3 %||-7 %|
How long is repayment cover valid?
If your pension is paid out for life, repayment cover is valid up to the month of you 75th birthday. If you have chosen to withdraw your pension for a limited period, repayment cover is valid until you have received your final payment.
Who receives to the survivor's pension?
According to Kåpan Pension’s general beneficiary clause, the survivors’ pension is paid primarily to your spouse, registered partner or cohabitant and secondly to your children. In a specific beneficiary clause you can change the order or distribution and to a certain extent who will receive the survivors’ pension.
You can choose the following persons as beneficiaries:
- spouse, registered partner or cohabitant
- former spouse, registered partner or cohabitant
- children, foster children of yours or any of the above persons.
Parents and siblings can never be beneficiaries.
For how long is the surviror's pensions paid out?
The servivor's pensions is normally paid out for five years after your death.
What other protection do you have as a government employee?
If you die while you are a government sector employee your family is entitled to payments for six years following your death. You family will also receive compensation from your occupational group life insurance.