Take out WIA insurance

Are you already familiar with WIA insurance? Unfortunately, disability among your employees cannot always be prevented. An employer is obliged to continue paying the wages of a disabled employee for the first two years. If the employee is still unable to return to work (fully) after two years, he or she will enter the WIA (Work and Income according to Labour Capacity Act). He will then receive WIA benefits. If an employee becomes unfit for work, this often means a significant drop in income. As an employer, you can give your employees a helping hand by taking out WIA insurance. WIA insurance is a supplement to the WIA benefit that your employee receives if they become unfit for work. At Alpina.nl we will tell you more about taking out WIA insurance.

What is WIA insurance?

If, after two years of continued payment of wages, your employee becomes subject to the WIA, the UWV will pay him a statutory WIA benefit. In order to protect your employee from a significant loss of income, you can take out WIA insurance. WIA insurance is a supplement to the WIA benefit that your employee receives in the event of long-term occupational disability. WIA insurance is actually a financial safety net for your staff. There are various types of WIA insurance on the market, such as the WGA gap insurance and the WIA Excess insurance.

Why take out WIA insurance?

Taking out WIA insurance is not required by law. There are, however, a number of collective labor agreements that stipulate the obligation to take out WIA insurance. Even if taking out WIA insurance is not mandatory according to your collective agreement, it still has a number of advantages, both for you and for your employee. With WIA insurance, you reduce the chance of financial problems for your employee. It is a supplement to the statutory WIA benefit. Depending on the type of benefit, the employee's income is supplemented by a certain percentage in the event of long-term occupational disability. That is why WIA insurance is a good secondary employment condition. It allows your employee to take the time to get better, without having to worry about paying the bills. It is often seen as a sign of good employment practices.

You can offer WIA insurance collectively to your staff. Your employees can then decide for themselves whether they want to participate in the insurance or not.

What does it cost to purchase WIA insurance?

The cost of purchasing WIA insurance depends on a number of factors:

• The type of business you have
• The age of your employees
• Your employees' salaries
• The number of employees who have been disabled before

It is often thought that the premium of a WIA insurance is very high. A WIA insurance does not have to be expensive. In the event that you would like to offer the insurance, but are unable to pay, you can choose to deduct (part of) the premium from the employee's salary. Another good thing to know is that the premium of a WIA insurance is tax deductible on the income tax. In this way, the insurance can be more advantageous than you might think.

Should I take out WIA insurance or not?

Are you still hesitating whether or not to take out WIA insurance? Then it's a good idea to list all the benefits for yourself. You can also request a quote in advance, so you know what you would have to pay in premiums. You can then decide for yourself whether WIA insurance is a sensible insurance for your company.

Benefits of WIA insurance:

• Your employee's income is supplemented, depending on the type of benefit
• The insurer offers help with the reintegration of your employee
• WIA insurance contributes to the financial well-being of your employees
• WIA insurance is a good secondary condition for your employees and is known as a sign of good employment practices
• The premium of a WIA insurance is tax deductible
• The benefit is stable in value

Take out WIA insurance directly through Alpina

At Alpina.nl you can request a quote for WIA insurance without any obligation. Based on a few details about your organization, we can already give you an accurate quote. Do you have any questions about taking out WIA insurance? Then please contact us! Our insurance specialists will be happy to help you.