Does it make sense to purchase WGA gap insurance?
There are several employers who offer WGA gap insurance to their employees. A WGA gap insurance policy protects your employees from loss of income if they are on long-term disability. However, WGA gap insurance is not the cheapest insurance available. That's why many employers wonder: does it make sense to take out WGA gap insurance? In this article on Alpina.nl , we would like to help you answer that question.
WGA gap insurance is a voluntary insurance policy
First, it is good to know that WGA gap insurance is voluntary and not mandatory. You can offer WGA gap insurance collectively to your employees. Your employees then decide for themselves whether or not they want to participate in the insurance. Therefore, although WGA gap insurance is not legally mandatory, some collective bargaining agreements stipulate that such insurance must be taken out.
In what situation are you insured with WGA gap insurance?
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). There is a WGA gap if the employee receives the WGA continuation benefit, and thereby the total income falls below 70% of the annual wage insured for him. With WGA gap insurance, your employee will receive a supplement to the statutory WGA continuation benefit if there is a WGA gap. In that case, the insurer will supplement the employee's income up to 70% times the disability percentage times the former salary.
For whom does WGA gap insurance make sense?
Of course, you do not know in advance if and how many of your employees will end up in a WGA follow-up benefit. Not all employees who become (partially) disabled end up in the WGA follow-up benefit. Whether you consider WGA gap insurance useful for your organization is therefore a personal consideration that you must make. For certain occupational groups, taking out such insurance might be more useful than for others. Consider, for example, dangerous high-income occupations, where there is a greater risk of serious loss of income.
Take out WGA gap insurance? Request a no-obligation quote at Alpina.nl!
At Alpina.nl , you can request a quote for WGA gap insurance without obligation. Based on a number of details, we can give you an accurate quote. Do you have any questions about taking out WGA gap insurance? Then please contact us! Our insurance specialists will be happy to help you. You can call us Monday through Friday from 8 a.m. to 6 p.m. at 088 - 688 3700. Asking a question via chat, WhatsApp or Messenger is also possible.
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