Is WIA insurance mandatory?
There are an awful lot of business insurance policies on the market. As a business owner, you naturally want to protect your organization as much as possible. Not every insurance is mandatory. You choose which insurances are necessary for your business. One of the insurances you can take out is WIA insurance. You can take out WIA insurance to minimize your employees' loss of income in the event of long-term disability. Taking out WIA insurance is not mandatory for you as an employer, but it does have a number of advantages. In this article on Alpina.nl we will tell you more about WIA insurance.
What does WIA insurance entail?
WIA stands for Work and Income according to Labour Capacity Act. This is the disability law. If your employee becomes disabled, as an employer you are obliged to continue paying the employee's wages for 2 years. After these 2 years, the obligatory continued payment of wages stops and the employee falls under the WIA. He will then receive WIA benefits from the UWV. The WIA consists of two types of benefits: the WGA (Work resumption of partial disability) and the IVA (Inkomensvoorziening Volledig Arbeidsongeschiktten). The employee receives a WGA benefit if he has been ill for 2 years or more and is between 35% and 80% incapacitated for work or an IVA benefit if he is completely and permanently incapacitated for work.
As an employer, you can also take out WIA insurance for your employees. WIA insurance is a supplement to the WIA benefit your employee receives in the event of long-term disability. By taking out WIA insurance, you actually provide an additional financial safety net for your staff.
WIA insurance not required, why take out anyway?
Taking out WIA insurance is not mandatory. It is a voluntary insurance that you as an employer can take out for your employees to give them extra financial security. You can offer WIA insurance collectively to your employees. Your employees then decide for themselves whether or not they want to participate in the insurance. With WIA insurance, your employees will receive a supplement to the statutory WIA benefit when they have been disabled for more than 2 years.
Some collective bargaining agreements do stipulate that WIA insurance must be taken out. Even if WIA insurance is not an obligation under your collective bargaining agreement, there are plenty of reasons for you as an employer to still take it out. WIA insurance is a supplement to the statutory WIA benefits. By taking out this insurance, you therefore provide a financial safety net for your employees should they become unfit for work for a long time. Moreover, WIA insurance is an attractive fringe benefit. It is often seen as a sign of good employment practices.
Take out WIA insurance directly through Alpina
At Alpina.nl , you can request a no-obligation quote for WIA insurance. That way you will know immediately what you will soon pay in premiums. To make an accurate quote, we only need a few details about your organization and staff.
Do you have questions about requesting a quote or purchasing WIA insurance? If so, please be sure to contact us! Our insurance specialists will be happy to help you with all your questions.
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