Term life insurance in the Netherlands: what it costs
A healthy 35-year-old non-smoker pays around € 17 a month for € 250,000 of level cover. A smoker pays € 40 for the same policy. Choose decreasing cover and it drops to € 6.50. Here is where those differences come from, in plain English.
Term life insurance in the Netherlands, called an overlijdensrisicoverzekering or ORV, costs most people between € 6 and € 40 a month. Your age and whether you smoke matter most, then the sum insured, the term and whether cover stays level or decreases. Decreasing cover is roughly 60% cheaper than level cover. You pay a one-off setup fee of € 45 to € 70 on top, but no insurance premium tax, because life insurance is exempt. The biggest saving is not in your own choices: for identical cover, prices between insurers differ by 54%.
What is an overlijdensrisicoverzekering?
An overlijdensrisicoverzekering pays out a fixed amount if you die before the policy ends. It builds no savings and pays nothing if you outlive the term, which is exactly why it is cheap. Dutch people usually take one out alongside a mortgage, but you do not need a mortgage to buy one.
If you live in the Netherlands with a partner or children, the question is simply whether their life would still work financially without your income. Rent or mortgage payments continue, childcare continues, and the Dutch state provides less for surviving partners than many newcomers expect. The state survivor benefit, Anw, is limited and many people do not qualify for it at all.
Two things confuse almost every international here. This is not a uitvaartverzekering, which is a small funeral policy that pays for the funeral itself. And it is not the same as the life cover you may have through a Dutch employer, which usually stops the day you leave that job. Those are separate arrangements, and we look at both before advising you to buy anything.
How much does it cost per month?
Below are eight profiles we calculated on 13 August 2026 with one Dutch insurer, Centraal Beheer. One insured person, fixed premium, policy starting 1 September 2026, and always € 250,000 of cover over 30 years unless the row says otherwise. Only one thing changes per row, so you can see what each choice actually does to the price.
| Situation | Cover | Per month |
|---|---|---|
| Age 30, non-smoker | level | € 10.93 € 3,935 total |
| Age 35, non-smoker | level | € 16.74 € 6,026 total |
| Age 40, non-smoker | level | € 28.82 € 10,375 total |
| Age 45, non-smoker (25 years) | level | € 38.52 € 11,556 total |
| Age 35, smoker | level | € 39.96 € 14,386 total |
| Age 35, non-smoker | linear decreasing | € 6.49 € 1,947 total |
| Age 35, non-smoker | annuity decreasing (3%) | € 7.50 € 2,250 total |
| Age 35, non-smoker (€ 400,000) | level | € 29.84 € 10,742 total |
Read this as a set of ratios rather than a price list. These are one insurer's rates on one day, and insurers change them whenever they like. What holds is the direction: every one of these choices moves the premium further than people expect.
Why does smoking cost so much?
Smoking is by far the most expensive factor in Dutch term life insurance. For the same 35-year-old with the same € 250,000 of cover, the premium goes from € 16.74 to € 39.96 a month. That is 2.4 times as much, and more than € 8,300 extra over a thirty-year term.
Dutch insurers define smoking more broadly than most people assume. Cigarettes and rolling tobacco count, but so do vapes, e-cigarettes, shisha, cannabis and even nicotine gum or patches, and the question covers the past two years. Answering it inaccurately is serious: the insurer can reduce the payout or void the policy entirely, at the moment your family needs it.
If you have quit, that becomes worth money after two smoke-free years. Most insurers will move you to the non-smoker rate, but it does not happen automatically. You have to ask, and sometimes provide a declaration or a test. It is one of the first things we check on any policy that is already running.
Level or decreasing cover: what is the difference?
Decreasing cover is roughly 60% cheaper than level cover. In our calculation: € 6.49 a month for linear decreasing or € 7.50 for annuity decreasing, against € 16.74 for level cover, all starting at € 250,000 over the same thirty years.
That gap is not a discount, it is less insurance. With decreasing cover the sum insured falls every year in step with a mortgage balance, so in year 25 it pays out far less than in year 1. If you have a Dutch annuity or linear mortgage, that fits neatly, because your debt falls too. If you have an interest-only mortgage, or no mortgage at all, it does not fit: your obligations stay flat while your cover drains away.
So the choice follows what you are protecting. Covering a shrinking mortgage means decreasing cover usually does the job. Replacing income for a surviving partner, or leaving something for children after the mortgage is gone, calls for level cover. We calculate both and put the monthly figures side by side, so you can see exactly what that extra € 10 a month buys.
Same risk, 54% difference in price
The largest saving is not in your own choices but in which insurer you pick. In a worked example published by comparison site Independer (updated 9 January 2026) for two non-smokers aged 30 with € 200,000 of level cover over 30 years, the comparison premium ranged from € 3,776.99 at Nationale-Nederlanden to € 5,821.80 at Centraal Beheer.
That is € 2,045 apart, or 54% more, for identical cover and identical risk. Chubb Life, Allianz, Dazure and Scildon sat in between. Note that this is the comparison premium, which accounts for inflation and variable premiums so insurers can be judged fairly rather than on headline monthly price alone.
This is also why the policy your mortgage lender offers is rarely the cheapest. In the Netherlands you are free to buy term life cover from any insurer you like, regardless of who lends you the money, and staying independent means you are not tied to that lender if you refinance later. Because we are an independent broker, we compare premiums across 40+ insurers rather than selling whatever comes bundled with the mortgage.
What other costs are there?
On top of the monthly premium you pay a one-off setup fee. It varies per insurer: on 13 August 2026 Nationale-Nederlanden charged € 45 for closing online without advice, Centraal Beheer € 59, and Allianz € 70 plus € 2 a month in administration costs. Buy through a comparison website and their own fee is added; Independer charges € 195 for that.
You pay no insurance premium tax. Term life insurance counts as life insurance, which is exempt under article 24 of the Dutch Wet op belastingen van rechtsverkeer. Your contents and liability policies carry 21% tax, this one carries none, so it is a fifth cheaper than comparable Dutch insurance in that respect.
There is one Dutch tax trap worth knowing about, and it catches internationals often. If the policy is set up so that you pay the premium on your partner's life and your partner pays on yours, called kruislings verzekeren, the payout usually falls outside the estate and your partner owes no inheritance tax on it. Set up the ordinary way, a share of the money can go to the tax authorities instead of your family. It is a detail at signing that is worth thousands later, and it works differently again if you are married in a Dutch community of property.
Do I need a medical exam, and does my nationality matter?
For most amounts you fill in a health declaration rather than seeing a doctor. Above roughly € 250,000 to € 300,000, depending on the insurer and your age, a medical check is often added. Your nationality does not affect the premium, and neither does the country of your passport.
What can complicate things is paperwork rather than risk. Most Dutch insurers want a BSN, a Dutch address and a Dutch bank account, and some ask about long stays abroad or plans to move away. If you expect to leave the Netherlands within a few years, say so at the outset, because it affects which insurers are suitable and whether the policy keeps paying out once you have left.
The health declaration itself is normally in Dutch, and answering it precisely matters more than answering it quickly. We go through it with you in English so that nothing is misunderstood, because an inaccurate answer is the one thing that reliably breaks a life insurance claim.
What does the advice cost?
The first meeting is free and without obligation. We look at what you actually need, which form of cover fits your situation, and what the premiums do across the different insurers. Only if you want to go ahead do we agree on the work and the fee, and we put that in writing beforehand.
If we arrange your mortgage, advice on term life insurance is included as standard, so you do not pay for it separately. Our mortgage fees are published openly on the tariff page: a fixed amount agreed up front, not a commission that rises with your premium.
If you only want the term life policy, without us arranging your mortgage, that advice costs € 200 for private clients. A statutory commission ban applies here too: the insurer pays us nothing, however expensive the policy. So you know the figure before any work starts, and it does not move with your premium.
That is not a given in this market. We earn nothing extra if you buy a more expensive policy, which is precisely why we are willing to point you at the cheapest suitable insurer, including ones we make nothing from. We advise in English and work throughout the Netherlands from our office in Naarden.
Frequently asked questions
How much does term life insurance cost in the Netherlands? +
Most people pay between € 6 and € 40 a month. A non-smoker in their thirties with € 250,000 of level cover pays roughly € 11 to € 17. Smoking roughly doubles that, and decreasing cover roughly halves it. Above age 45 premiums climb steeply, because the risk of dying within the term rises faster.
Do I need term life insurance for a Dutch mortgage? +
Usually not legally, but it is strongly advisable. Dutch lenders can require it when you borrow a high amount relative to the property value, and some still do. Without cover, a surviving partner keeps the full mortgage payment on one income, which is how forced sales happen. You are never obliged to buy it from the lender itself.
Can I get Dutch term life insurance as a foreign national? +
Yes. Your nationality does not affect the premium. Most Dutch insurers do require a BSN, a Dutch address and a Dutch bank account, and some ask about extended stays abroad. If you expect to leave the Netherlands within a few years, mention it early, because it determines which insurers are suitable for you.
Why is decreasing cover so much cheaper? +
Because you are buying less insurance. With decreasing cover the sum insured falls every year alongside a mortgage balance, so the insurer carries far less risk over the term. In our calculation linear decreasing cost € 6.49 a month against € 16.74 for level cover, both starting at € 250,000 over thirty years.
Is there tax on the premium or the payout? +
There is no insurance premium tax, because life insurance is exempt under article 24 of the Wet op belastingen van rechtsverkeer. Inheritance tax on the payout depends on how the policy is arranged: with cross-insurance, where each partner pays for the other's life, the payout usually falls outside the estate and stays untaxed.
Should I buy from my mortgage lender or separately? +
Separately is almost always cheaper. You are free to choose any insurer regardless of who provides your mortgage, and prices for identical cover differ by up to 54%. Buying separately also means you are not tied to that lender if you refinance later. We compare premiums across 40+ insurers before recommending one.
What does the advice cost at Bouvy Advies? +
The first meeting is free and without obligation. If we also arrange your mortgage, advice on term life insurance belongs to that process. If you only want the insurance, the advice costs € 200 for private clients. A statutory commission ban applies to term life cover, so we receive nothing from the insurer and agree the fee with you in advance.
Are these figures still current? +
The premiums on this page were calculated on 13 August 2026 using Centraal Beheer's own quotation tool, and the comparison between insurers comes from an Independer worked example dated 9 January 2026. Insurers adjust their rates regularly, so treat these as indications and have your own premium calculated before buying anything.
Read more in English about insurance for expats, mortgages for expats and mortgages for self-employed internationals. Prefer Dutch? See wat een overlijdensrisicoverzekering kost.
Find out what you would pay
In a free meeting we work out your situation, put the forms of cover side by side and compare premiums across 40+ insurers. Not an average, your number. In English, wherever you are in the Netherlands.