Everything you need to know about group Death & Disability policies

What benefits are covered by death & disability plans?

A group death & disability plan will provide the following benefits:
– Death lump sum: paid to the beneficiaries in the form of a lump sum in case of death,
– Total or partial disability: pension or compensation annuity paid in case of illness or accident, meaning the employee is wholly or partially unfit for work,
– Income protection in case of accident or illness.

Is group death & disability insurance compulsory?

While supplementary medical insurance plans are compulsory for all companies, death & disability insurance must be provided only:
– To all executive employees,
– Or when provided for in the national collective bargaining agreement.

This will then affect a very high portion of companies in France.

Make a difference!

When recruiting your future employees in France, do not overlook the positive impact that an insurance policy of this type can have on your employees: it provides real security for them and their loved ones in case of minor or more serious life problems. The portion covered by the basic French social security scheme is far from sufficient. It is important to bear in mind that offering a group death & disability plan, you will need to pay at least a certain % of the premium, depending of your collective bargaining agreement.

How to choose a plan from among all the offerings on the market? First of all, you need to be aware of your company’s collective bargaining agreement which may set a minimum level of coverage. Then, depending on the size of your company, you can opt for either a group or a tailored plan. Lastly, you can compare the waiting periods, the number of qualifying days, the exclusions and the premium levels.

Count on MIA Insurance Broker to find the best and most suitable plan on the market!

Get a quote from MIA Assurances