Take out WIA insurance

Are you already familiar with WIA insurance? Unfortunately, disability among your employees cannot always be prevented. An employer is obliged to continue paying the wages of an incapacitated employee for the first two years. If the employee is still unable to return to work (fully) after two years, he or she will enter the WIA (Work and Income according to Labour Capacity Act). He will then receive WIA benefits. If an employee becomes unfit for work, this often means a significant drop in income. As an employer, you can give your employees a helping hand by taking out WIA insurance. WIA insurance is a supplement to the WIA benefit that your employee receives if they become disabled. At Alpina.nl we will tell you more about taking out WIA insurance.

What is WIA insurance?

If your employee ends up in the WIA after two years of salary continuation, he or she will receive statutory WIA benefits from the UWV. To protect your employee from substantial loss of income, you can take out WIA insurance. WIA insurance is a supplement to the WIA benefit your employee receives in the event of long-term disability. A WIA insurance is actually a financial safety net for your staff. There are different types of WIA insurance on the market, such as WGA gap insurance and WIA excess insurance.

Why take out WIA insurance?

Taking out WIA insurance is not required by law. However, there are a number of collective bargaining agreements that state that it is mandatory to take out WIA insurance. Even if taking out WIA insurance is not mandatory according to your collective bargaining agreement, it still has a number of advantages, both for you and for your employee. With WIA insurance, you reduce the risk of financial problems for your employee. This is because it supplements the statutory WIA benefit. Depending on the type of benefit, the employee's income is supplemented by a certain percentage in the event of long-term disability. This is why WIA insurance is a good fringe benefit. It allows your employee time to get better without having to worry about paying the bills. It is often seen as a sign of good employment practices.

You can offer WIA insurance collectively to your staff. Your employees can then decide for themselves whether or not they want to participate in the insurance.

What does it cost to purchase WIA insurance?

The cost of obtaining WIA insurance depends on a number of factors:

• The type of business you have
• The age of your employees
• Your employees' wages
• The number of workers who have been previously disabled

It is often thought that the premium for WIA insurance is very high. WIA insurance does not have to be expensive. In case you want to offer the insurance but cannot afford it, you can choose to deduct (part of) the premium from the employee's salary. It is also good to know that the premium of a WIA insurance is tax deductible from the income tax. Thus, the insurance can be more advantageous than you might think.

Should I purchase WIA insurance or not?

Are you still hesitating about whether or not to take out WIA insurance? Then it is good to list all the advantages for yourself. You can also request a quote so that you know what you would have to pay in premiums. You can then decide for yourself whether WIA insurance makes sense for your company.

Benefits of WIA insurance:

• Your employee's income is supplemented depending on the type of benefit
• The insurer offers assistance in reintegrating your employee
• WIA insurance contributes to the financial well-being of your employees
• WIA insurance is a good fringe benefit for your employees and is known as a sign of being a good employer
• WIA insurance premium is tax deductible
• The benefit is value based

Take out WIA insurance directly through Alpina

At Alpina.nl you can request a quote for WIA insurance without any obligation. Based on a few details about your organization, we can already give you an accurate quote. Do you have any questions about WIA insurance? Then please contact us! Our insurance specialists will be happy to help you.