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Earnings when disabled

When disabled your earnings may turn out to be very disappointing

It definitely makes sense to insure a drop in income!   

Just imagine, you fall ill. Two years later UWV, the paying institution, decides that you are no longer able to work. Either fully disabled, or partly. The future does not look so bright anymore. And what about your income?

Employees within the public domain and educational sectors are covered by the act ‘Werk en Inkomen naar Arbeidsvermogen’. In short WIA (\Work and Income according to working capacity). Not differing from the regulations for all other workers in the Netherlands. When disabled WIA substitutes the loss of wages. Since you are working within the public domain or educational sector, your pension scheme provides additional compensation.  

Risks

Does the additional pension remove all financial risks? Definitely not. Especially the workers that have become only partly disabled and who, according to UWV, are not earning enough themselves may discover that their income has plunged considerably.What remains after some time is an income that is below public assistance rates (bijstand).

IPAP, an insurance to guarantee financial security

When becoming disabled it still makes sense to insure a decrease in income.IPAP by Loyalis is that kind of insurance.Particularly for the employees within the public domain and the educational sectors.

Premium reduction

Your employer believes that supplemental insurance to cover working disability is necessary and for that reason we have made an IPAP insurance arrangement with Loyalis. As such, your profit is a premium reduction of at least 20 percent. That way, IPAP will only cost you a few euros a month. Do you decide on maximum security against income loss when disabled? All employees are now free to apply for it.  

More information?

Should you be interested in this insurance you can obtain it against special conditions and reduced premiums. Please turn to your HR Manager for further details and advice.

Last modified:29 November 2012 3.42 p.m.
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