What is the meaning of WGA gap insurance?
As an employer, are you already familiar with WGA gap insurance? A WGA gap insurance is also known as WGA gap insurance or WGA supplementary insurance. You can take out WGA gap insurance to minimize your employees' loss of income in the event of long-term disability. In this article on Alpina.nl we will tell you more about the meaning of WGA gap insurance and how to take out this insurance.
What exactly is WGA and WGA gap?
WGA stands for Work Resumption Partially Disabled. The WGA is part of the Work and Income according to Labour Capacity Act (WIA). If an employee is more than 35% incapacitated for work, they will face the WGA. The WGA gap is the loss of income that can occur when an employee is long-term disabled. In the Netherlands, an employer is obliged to continue paying wages for 2 years. After this period, the employee receives a WGA wage-related benefit. After a minimum of 3 months and a maximum of 24 months, this benefit turns into a WGA benefit (wage supplement/progression).
A WGA gap occurs when the employee receives the WGA continuation benefit, and in doing so, their total income falls below 70% of their insured annual wage. If a WHA gap occurs, it means that your employee's income drops significantly, by up to 30% of their former income. To protect your employee against this, as an employer you can take out WGA gap insurance.
What is WGA gap insurance?
A WGA gap insurance is an insurance you can take out to protect your employees against loss of income if they are disabled for a long period of time. With a WGA gap insurance your employee receives a supplement to the statutory WGA continuation benefit if there is a WGA gap. In that case, the insurer supplements the employee's income up to 70% times the disability percentage times the former salary. With a WGA gap insurance you give your employees more financial security when they become disabled and are unable to work for a longer period of time.
What are the benefits of WGA gap insurance?
WGA gap insurance has several benefits:
- WGA gap insurance supplements the WGA gap until state pension age
- The insurer provides assistance in reintegrating the employee
- WGA gap insurance is a good fringe benefit for your employees
- Insurance contributes to the financial well-being of your employees
- WGA gap insurance premium is tax deductible
- The benefit is value based
Request an instant quote for WGA gap insurance on Alpina.nl
Before you take out a WGA gap insurance, you obviously want to know what you will soon pay in premiums. At Alpina.nl you can therefore request a no-obligation quote. Based on a few details we can offer you an accurate quote. Do you have any questions about requesting a quote or taking out a WGA gap insurance? Then please contact us!
Request an instant quote for WGA gap insurance!
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