Invalidity cover “Business is Business”

Accident

Because everyone can be involved in an accident, because the consequences can have a serious impact on your life and career, because invalidity and guaranteed income coverings on the market are quite expensive and often require a lot of administration …

We present to you, self-employed, free professionals, business leaders, a full-fledged solution and protection for:

Business is Business

The purpose of this cover is to compensate the insured, or to the insured and the company, in case of temporary incapacity or permanent invalidity of more than 50% due to an accident or a sudden illness.

What is the offered cover?

It is an invalidity cover due to an internal cause or external accident. For an internal cause, the following conditions are understood:

  • Infectious meningitis, i.e. an acute infectious disease in which the cerebral membranes ignite
  • Cerebrovascular Accident (CVA) due to vascular rupture or thrombosis cerebral without causative antecedents
  • A heartbeat fracture
  • A pulmonary embolism
  • An acute hepatitis
  • Infectious or toxic non-alcoholic, acute pancreatitis without causal antecedents
  • Acute infectious peritonitis (peritonitis)
  • Acute infectious myocarditis
  • Myocardial infarction without causal antecedents
  • Infectious encephalitis, i.e. an acute infectious disease in which the brain is inflamed

What is a sudden illness??

An impairment of the health of the insured person, which is not of an accidental nature, and has a sudden and unforeseeable nature, the cause of which is against the will of the insured person.

Who can enjoy this cover?

The insured persons with a residence in Belgium, under the age of 55 at the time of enrolment, with a professional income and who have a non-manual occupation.

What are the proposed options?

1. Policyholder = Insured = Beneficiary

2. Policyholder = Company. Beneficiaries = Company (50%) and insured (50%)

What are the insured guarantees?

  • Sudden death is insured for an amount of €50,000
  • Temporary incapacity for a maximum of 2 years (with a 2-month waiting period)
  • The permanent disability of more than 50% (validated on the basis of the English business).

What is the capital insured in Temporary Disability and Permanent Disability?

The capital insured is calculated based on the average of the professional income for the last 3 years. 80% of this amount will define the maximum annual capital dedicated to the Temporary Incapacity coverage.

Once the level of disability has been defined (no later than 24 months after the accident), if it is more than 50% the permanent disability benefit will be available. The amount of compensation for the Temporary Disability would be deducted from the capital for the Permanent Disability.

The percentage of the Permanent Disability would be defined according to the table BOBI.

Example Figures:

Mr Dupond, a non-smoker, 45 years old.

His professional income is equivalent to €98,000, €100,000 and €102,000 over the course of the past 3 years.

The average for the 3 years is €100,000 per year.

The capital for Temporary Disability in the framework of the guarantee amounts to €80,000.

Mr Dupond said, logically, he would work for 20 more years.

Calculate the total of his income which would add up to €100,000 * 20 years = €2,000,000

The business is business solution allows it to guarantee 50%, 33% or 25% of this amount.

The premium offered would be, according to the capital you chose to be insured, of:

A. €2,000,000 *25% = the sum insured €500,000/ Premium VAT: €952.00

B. €2,000,000 *33% = the sum insured €660,000/ Premium VAT: €1,137.00

C. €2,000,000 *50% = the sum insured €1,000,000/ Premium VAT: €1,507.00

Smokers premium:

A. €1,242.35

B. €1,484.25

C. €1,968.10

What is the duration of the cover?

The contract is a yearly renewable contract by tacit agreement unless terminated 3 months before the due date or before it is due to increase in price.

What documents are required to be able to apply for this insurance?

An offer is to be completed along with a medical. This acceptance will be renewed every 3 years along with a certificate of good health.

 

For more information, please contact us.

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