What benefits are covered by death & disability plans?
A group death & disability plan will supplement the coverage provided by your employees’ basic plan for 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 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 health 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.
Group death & disability insurance is therefore not compulsory in all cases, but only for employees with executive status or for all employees when provided for in the business sector federation agreement.
Make a difference to your employees!
When recruiting your future employees in France, don’t 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 health problems. The portion covered by the basic French scheme is far from sufficient. It’s important to bear in mind that, if you take out a group death & disability plan, you will need pay at least 50% of the premium.
So how do you 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 customized plan. Lastly, you can compare the waiting periods, the number of qualifying days, the exclusions and the premium levels.
Count on MIA Assurances to find the best and most suitable plan on the market!
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