Group WIA top-up insurance for employees
Informatiedocument over het verzekeringsproduct
- Onderneming:
- Elips Life Ltd, life insurer, license: 110355 (LI)
- Product:
- WIA-excedentverzekering
This document only provides a summary of the key features of the insurance. You will find all the terms and conditions in the general conditions and the special conditions.
If an employee becomes incapacitated for work, the Employee Insurance Agency (UWV) may grant a benefit under the Work and Income (Capacity for Work) Act (WIA benefit) after 104 weeks of illness. With the WIA top-up insurance, you insure a supplement on this WIA benefit for your employees with an income in excess of the maximum WIA wage.
If an employee comes under the scope of the Work and Income (Capacity for Work) Act (WIA), they will receive WIA benefits. The WIA has two benefits: a benefit under the Fully Disabled Persons Income Scheme (IVA benefit) and a benefit under the Return to Work (Partially Disabled Persons) Regulations (WGA benefit). The WGA has three different benefits (pay-related, the pay top-up and the follow-up benefit). More information can be found on the UWV’s website.
As a supplement on the WGA and IVA benefits, this insurance pays: 70% of the insured salary multiplied by the benefit rate. A higher percentage than 70% is also possible.
You can also choose to have only the WGA benefit (WGA top-up insurance) or only the IVA benefit (IVA top-up insurance) supplemented.
The employee’s salary above the WIA wage limit is the insured salary on which we base our benefit payment. The benefit starts after we receive the UWV’s definitive decision and no earlier than 104 weeks after the first day of illness.
You insure all your employees who must be insured for the employee insurance and whose income exceeds the WIA wage limit, including employees on temporary contracts.
We reimburse all or part of the reintegration costs that we have pre-approved in writing.
We will not pay if the employee was ill or incapacitated for work when they took up employment. We will also not pay if the employee was already sick or incapacitated for work when you took out the insurance.
If a sick or incapacitated employee takes up employment due to a change in the business situation, such as a merger or acquisition, they are not covered by this insurance.
We will not pay if fraud has been committed.
We will not pay if:
Employees with a salary up to and including the WIA wage limit are not covered by this insurance.
An employee will not receive a benefit under this insurance if they are less than 35% incapacitated for work.
In case of partial incapacity for work, we pay part of the insured sum depending on the degree of incapacity for work according to the UWV.
This insurance applies to employees paying income tax in the Netherlands and provides worldwide coverage.
Let us know if an employee is incapacitated for work within 42 weeks of their first day of illness.
Register employees within two months of the start of the insurance or, if later, within two months of the date of commencement of employment. The employee must be fully fit for work and be performing the agreed work at that time.
You and your sick employee must do everything possible to ensure that the employee can return to work. You and your employee must comply with the policy conditions and the obligations imposed by the UWV.
All information required to implement this insurance must be made available to us. This includes income data and changes in the degree of incapacity for work.
Health
If you request this insurance, we will not ask about your employees’ health.
You pay the premium each year. The premium must be paid within thirty days of the invoice being sent. If the premium is not paid after a reminder and a final payment deadline, the cover lapses.
Premium
Your premium percentage depends on the type of business you run and factors such as your employees’ salaries and ages, and the number of employees who have been previously incapacitated for work.
The insurance starts on the date specified in the policy. The standard policy term is three years. At the end of those three years, we will make you a proposal to renew your insurance, unless we cancel your insurance and do not make a proposal for renewal.
Your employee’s cover ends at their state pension (AOW) age, when they leave their employment, on their death or on termination of the insurance. The benefit runs until their state pension age at the latest.
If you fail to pay the premium on time, we can terminate the insurance.
Give us written notice of termination no later than two months before the end of the first contract term. After the first contract term, you can give notice of termination of the insurance on any day in writing subject to a one-month notice period, unless we have agreed a new contract term with you.