Life insurance is one of the most important forms of financial protection a family can have, yet many people in Sweden are unsure about what coverage they already have or what they might need. In Sweden, life insurance — or livforsakring — can come through your employer, your union's collective agreement, or a private policy you take out yourself. Understanding these options can help you make informed decisions about protecting the people who depend on you.
Employer-provided group life insurance (TGL)
Most employees in Sweden are covered by tjanstegrupplivforsakring (TGL), a group life insurance provided through collective agreements (kollektivavtal) between employers and unions. TGL pays a lump sum to your surviving partner and children if you pass away while employed. The payout amount depends on your age and family situation, and the insurance is typically active as long as you are employed under a collective agreement. It is important to check with your employer or union whether TGL is included in your employment terms, as not all workplaces are covered by kollektivavtal.
Private life insurance (risklivforsakring)
A risklivforsakring is a private life insurance policy that pays out a tax-free lump sum if you die during the policy term. This type of insurance is especially common among families with a mortgage, as the payout can help a surviving partner keep the home. In Sweden, private life insurance is offered by major providers such as Lansforsakringar, Skandia, Folksam, and IF. When choosing a policy, consider how much coverage your family would need to maintain their standard of living, cover housing costs, and handle any outstanding debts. Premiums depend on factors like your age, health, and the amount of coverage.
Income protection and disability insurance
While life insurance protects your family after death, income protection insurance (sjukforsakring or inkomstforsakring) ensures you still receive an income if you become too ill or injured to work. Forsakringskassan provides a basic level of sick pay (sjukpenning), but it only covers up to about 80 percent of your income up to a ceiling. If your salary is above the ceiling, or if you want more comprehensive coverage, a private income protection policy can fill the gap. This is especially important for families that depend on two incomes to cover housing costs and daily expenses.
Reviewing your coverage
Life changes — such as buying a home, having children, or changing jobs — are good moments to review your insurance coverage. Start by checking what you already have through your employer and union. Then consider whether a private risklivforsakring would give your family additional security. Many Swedish insurance comparison services, such as Konsumenternas Forsakringsbyra (a free and independent advisory service), can help you understand your options. Taking a few hours to review your coverage today could make a meaningful difference for the people you care about most.
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