Does it make sense to take out a 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 purchase WGA gap insurance? In this article at Alpina.nl , we would like to help you answer that question.
WGA gap insurance is a voluntary insurance
First of all, it is good to know that a WGA gap insurance is a voluntary and not obligatory insurance. You can offer a WGA gap insurance collectively to your employees. Your employees then decide themselves whether they want to participate in the insurance or not. Although a WGA gap insurance is not a legal obligation, some collective labour agreements stipulate that such an insurance has to be taken out.
In what situation are you insured with a WGA gap insurance?
If an employee is more than 35% incapacitated for work, he will have to deal with the WGA. The WGA gap is the loss of income that can occur when an employee is long-term incapacitated for work. In the Netherlands, an employer is obliged to continue paying wages for two years. After this period, the employee will receive a WGA salary-related benefit. After a minimum of 3 months and a maximum of 24 months, this benefit will change into a WGA benefit (wage supplementation/continuation). There is a WGA gap if the employee receives the WGA continuation benefit and his total income drops below 70% of the annual wage insured for him. 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 to 70% times the disability percentage times the former salary.
For whom is a WGA gap insurance useful?
Of course, you do not know in advance if and how many of your employees will end up in a WGA benefit. Not all employees who become (partially) disabled end up in the WGA benefit. Whether you find a WGA gap insurance useful for your organisation, is therefore a personal consideration that you have to make. For certain occupational groups, taking out such an insurance might be more useful than for others. Think for example of dangerous professions with a high income, causing a higher chance of serious income loss.
Take out WGA gap insurance? Request a no-obligation quote at Alpina.nl!
At Alpina.nl you can request a no-obligation quote for WGA gap insurance. 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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