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Supplement to daily sickness allowance insurance

Financial security in the event of death or disability as a result of illness

Nine out of ten cases of disability and death are the result of an illness. However, the benefits paid out by compulsory social insurance are substantially lower in the case of illness than in the case of accidents. The employees in question and their dependants find themselves faced with a gap in coverage, which can lead to financial problems.

 

The supplement to daily sickness allowance insurance reduces your employees' gaps in coverage and is therefore an important supplement to the benefits paid out by social insurance.

How you benefit

  • Increased appeal as a socially responsible employer
  • Simple processes similar to those for daily sickness allowance: average age and total salaries
  • Tax advantages: premiums are deductible as business expenditure
  • Favourable conditions thanks to a group contract
  • 5% combination discount on existing cover or on insurance for loss of earnings due to illness if taken out at the same time

Advantages for your employees

  • Additional insurance cover in the event of death or disability as a result of illness
  • Death and disability benefits in the form of a lump sum payment are an ideal supplement to daily allowance and pension benefits paid out by social insurance
  • Partial disability benefits from as little as 25% disability
  • Option of receiving an advance payment in the event of incapacity to work (up to 30% of the sum insured)

IMPORTANT SUPPLEMENT TO COMPULSORY SOCIAL INSURANCE

The COLLECTIVA Basic supplement to daily sickness allowance insurance is the right choice for responsible companies wishing to take out additional insurance for their employees and raise their appeal as an employer. In this way, they reduce the often severe financial difficulties that arise in the event of disability or death as a result of illness. This is because compulsory social insurance pays substantially lower benefits in the case of illness than accident. Generally speaking, the higher a person's AHV salary, the higher the losses they incur. Statistics show that nine out of ten cases of disability and death are attributable to an illness – such as a heart attack, stroke, mental or incurable condition. For this reason the supplement to daily sickness allowance insurance offers real added value in serious cases, as can be seen in the following example.

 

 

HOW THE SUPPLEMENT TO DAILY SICKNESS ALLOWANCE INSURANCE WORKS – AN EXAMPLE

Felix Fischer (35) is a departmental head at Polsterwerk AG and earns an annual AHV salary of CHF 100,000. Polsterwerk AG attaches importance to providing its employees with sound social insurance coverage and for this reason takes out the supplement to daily sickness allowance insurance COLLECTIVA Basic. The annual premium of CHF 192 for Felix pays off: he suddenly suffers from a stroke that paralyses the left side of his body. He is wheelchair-bound for the most part and almost totally reliant on assistance. He also has problems concentrating for any length of time or taking part in conversations. He is forced to give up his profession. At the request of his employer, Felix already gets an advance benefit amounting to 30% of the sum insured – i.e. CHF 30,000 – thanks to the supplement to daily sickness allowance insurance before the Federal Disability Insurance (IV) issues its decision. He can use this to cover the costs of renovation work to his home. Following the issue of the IV's decision, Generali pays Felix the residual amount of the sum insured of CHF 70,000.

 

 

SUMMARY OF THE DETAILS

How are the company's employees insured?

  • The amount of insured benefits amounts to 100% of their annual AHV salary up to the UVG maximum (as at 2016: CHF 148,200).
  • In the event of death as a result of illness, employees' beneficiaries receive the insured lump sum death benefit in accordance with the precedence of beneficiaries stipulated.
  • In the event of disability as a result of illness, employees receive their insured disability capital directly (partial benefit from 25% disability, full benefit from 70% disability).
  • The premium exemption in the event of incapacity to work is automatically covered.

Important questions

All companies. From five persons: without health questions, under five persons: with health questions.

Two to five years (followed by automatic renewal each year for a further year).

Based on total salaries and average age.

The amount of insured benefits amounts to 100% of the annual AHV salary up to a maximum of CHF 148,200 (UVG maximum, as at 2016).

Additional options