Avéro Achmea · compared independently · advice from Finass
WIA insurance through Avéro Achmea
WIA insurance tops up the income of employees who become incapacitated for work and earn more than the maximum daily wage, because UWV never pays anything on the excess above that.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
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A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
The WIA has a hard upper limit. UWV (the Dutch employee insurance agency) works solely with the capped daily wage; whatever an employee earns above that simply does not count. For a specialist, team leader or director, incapacity for work therefore means a fall in income far greater than the statutory percentages suggest, however ill he is.
The Act distinguishes between IVA for those who are fully and permanently incapacitated for work, and WGA for those who are partially or not permanently incapacitated. Excess cover runs alongside in both situations, because the salary ceiling applies to both. There is also separate cover for the contribution-free continuation of pension accrual, which otherwise stops during long-term absence.
So this is a different problem from the gap within the statutory scheme itself. That gap is repaired by WGA gap insurance. Companies with both high and average salaries need both; Finass looks at each salary group to see which cover actually adds anything.
The structure of the cover in three parts, with an overview per situation below.
Basic cover
The basic cover insures the core of your WIA insurance. We show what Avéro Achmea and other insurers offer within it.
Injury to persons
Property damage to third parties
Employees included
Retroactive cover (prior risk)
Extended cover
On top of that to damage to third parties, employers' and product liability and damage during work at the client's premises.
Employers' liability at the client's premises
Product liability
Agency workers, interns & volunteers
Care, custody and control (property in your care)
Complete package
The most complete cover. We compare Avéro Achmea's extended version with the market.
Environmental impairment (unforeseen, limited)
Retroactive cover (prior risk)
Higher sums insured
What is covered
Situation
Basic
With extension
Permanent disability after an accident
Yes
Yes
Death caused by an accident
Yes
Yes
Incapacity for work due to illness
No
Provided that
Continued payment of wages during sickness absence
No
Provided that
Reintegration and guidance
Provided that
Yes
Complaints that already existed when the policy was taken out
No
No
With accident and income cover, the definition of «accident» or «incapacity for work» determines what is paid out, together with the waiting period, the end age and the occupational profile. A condition that already existed or was known when the policy was taken out is usually excluded; non-disclosure can affect the payout (Articles 7:928 and 7:930 of the Dutch Civil Code).
What we do
What we do
At Finass
Direct with Avéro Achmea
Comparison across several insurers
Yes
No
Advice based on your own situation
Yes
Sometimes
One point of contact for claims
Yes
Sometimes
Cancellation with your current insurer arranged
Yes
No
We determine whether Avéro Achmea is the best choice
Yes
No
Advice fees for you as a customer
No
No
This overview concerns our service, not the cover. What is actually covered is set out in the policy conditions and on the insurer's insurance card (verzekeringskaart); you receive both before you take out cover.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
Income above the maximum daily wage
For the part of the salary above the statutory limit there is no benefit at all. Anyone well above that limit sees his income more than halve in the event of full incapacity for work, while his fixed costs, mortgage and children's study costs stay the same. Excess cover insures precisely this part and pays out for as long as the incapacity lasts, up to state pension age at the latest.
IVA and WGA both run alongside
With IVA UWV establishes that recovery is reasonably out of the question. The benefit is higher and no follow-up phase follows. With WGA the question is what someone is still able to earn. In both cases income above the salary ceiling remains uninsured, so excess cover is worthwhile in both situations. How a reassessment is handled where UWV later adjusts the percentage does differ from policy to policy.
Pension accrual and the fixed costs afterwards
During long-term incapacity for work the salary payment stops and with it, often, pension accrual over the excess part. Some schemes provide for contribution-free continuation, but usually only up to the statutory salary ceiling. The employee only notices the consequence years later, on retirement. So alongside the benefit, have it established what the pension scheme does in the event of incapacity for work and whether additional contribution waiver is needed.
What is not insured
Outside the cover are: employees who at the start of the contract were already ill or incapacitated for work; incapacity for work of less than 35 per cent, because no WIA entitlement then arises; and the period of two years of continued salary payment, which is at the employer's expense and is covered by sickness absence insurance (verzuimverzekering). Benefits that UWV refuses because of insufficient reintegration effort are not taken over by the insurer either.
Retroactive cover (prior risk)
Retroactive cover (prior risk) Included for your staff during work.
Defence & legal costs
What does your premium depend on?
Salary bill above the statutory salary ceiling. Only the excess part is insured. That amount is the actual basis for calculation.
Number of participants above the limit. A small group of high salaries carries an erratic risk and is rated differently from a broad workforce.
Age profile. The benefit period up to state pension age is longer for younger participants, while the likelihood is greater for older ones.
Occupational class and sector. Office roles are classified differently from operational or physically demanding roles.
Type of cover chosen. Excess cover alone, or combined with a supplement within the WIA and contribution-free pension accrual.
Sickness absence and WIA entry history. What has been reported in recent years in long-term absence and WIA entry is taken into account in the rate.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your situation, your risk and your wishes.
We compareseveral insurers, on premium as well as conditions.
You receive a proposalWith an explanation of the differences and the exclusions.
We arrange the switchIncluding cancellation, so there is no gap in cover.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Why is WIA insurance needed if there is already WGA gap cover?
The two cover different gaps. Gap cover repairs the fall back to the follow-up benefit within the statutory scheme. WIA excess cover concerns income above the maximum daily wage, on which UWV never pays out, not even in the most favourable form of benefit. If nobody in your company earns above that limit, excess cover adds nothing. If there are employees above it, it is precisely for them that the biggest gap remains open.
Does the cover apply with IVA as well?
Yes. The IVA benefit is higher than the WGA benefit, but is likewise calculated on the capped daily wage. So income above that limit remains uninsured even in the event of full and permanent incapacity for work. Because an IVA situation usually lasts until state pension age, the financial effect is greatest there and the benefit from the excess cover runs the longest.
Does everyone have to take part or can it be done per employee?
Insurers prefer compulsory participation for the whole group that earns above the salary ceiling. That prevents only employees with a health complaint from signing up. With voluntary participation a health declaration almost always follows and an exclusion can be included. A collective arrangement is therefore not only cheaper, but also leads to less argument afterwards.
What do we have to report if an employee falls ill long term?
Report the situation to the insurer as soon as it is clear that the absence is going to last longer, and in any event as soon as the WIA application is under way. Article 7:941 of the Dutch Civil Code requires notification as soon as you know of the event. Forward UWV's decision on the degree of incapacity for work, because that forms the basis on which the insurer determines and pays the supplement.
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
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