What is WGA gap insurance?
Are you an employer and considering purchasing WGA gap insurance? If so, you may be looking for some additional information about such insurance.
If one of your employees becomes disabled, as an employer you are obliged to continue paying wages for the first two years. After two years, the employee receives a WGA wage-related benefit. This benefit runs for a minimum of 3 months and a maximum of 24 months. It then turns into a WGA continuation benefit. This is where a WGA gap can occur. There is a WGA gap if the employee receives the WGA continuation benefit, and the total income thereby falls below 70% of his annual insured wage. To protect your employee against this, you can take out WGA gap insurance. A WGA gap insurance is an insurance you can take out to protect your employees against loss of income if they become disabled for a long period of time. In this article on Alpina.nl we will tell you more about taking out WGA gap insurance.
Why purchase WGA gap insurance?
With 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 will supplement the employee's income up to 70% times the disability percentage times the former salary. With WGA gap insurance, you reduce the risk of financial problems for your employee. By law, it is not mandatory to take out WGA gap insurance. However, some collective bargaining agreements stipulate that such insurance must be taken out. Even though it is not mandatory, there are plenty of reasons to take out WGA gap insurance. It is a supplement to the statutory WIA benefits. Such insurance gives your employees more financial security. Moreover, it is an attractive fringe benefit. It is widely seen as a sign of being a good employer.
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
Take out WGA gap insurance directly through Alpina
Taking out WGA gap insurance? At Alpina.nl you can request a no-obligation quote. Based on a number of details, we can give you an accurate quote. You can then easily compare the offer yourself.
Do you have any questions about taking out WGA gap insurance or about the quote? If so, please do not hesitate to contact us! Our insurance specialists will be happy to help you. You can call us Monday to 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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