Virus, injury following an accident … Insurers imagined guarantees to compensate for the decline or lack of income during the work stoppage. Explanations.
A work stoppage is a financial shortfall. And not only due to medical costs, reimbursed for all or part by the complementary health. There is no salary of firing on the bank account. Only daily allowances are paid by social security, but only from the fourth day ofsick leave and up to 44.70 euros per day. According to the professional branch, this cap can be revised upwards or compensated by the company. It is the conventions negotiated between employee representatives and the company that set this rule.
Personalize your insurance
To complete these social security aids or your business, and can still maintain stable income, there are individual insurance contracts. They are added to your complementary health, or take the form of daily allowance contracts. Each contract offers variable coverage, ranging from the accident in the context of professional activity to domestic or leisure accidents, including benign to serious diseases.
In general, The cheapest contributions are around 20 euros per month. The more options for income guarantee, the more this price is. To be more precise, it progresses as the amount of the daily allowance increases. Also, upon subscription, your income needs should be fixed to subscribe to the contract best suited to your budget.
Watch out for the compensation date
Other elements interfere on the price proposed by insurance companies. For example: the date from which you will be compensated. Sometimes the warranty works from the first day of stopping. It is not neutral on the cost of your insurance. Plus the departure date of the compensation coincides with the date stoppagethe more the prices climb. Again, depending on the budget that you can allocate to this insurance, the probability of using it and the amount of your incompressible expenses, you will have more or less interest in accepting a franchise period. It is not uncommon for insurers to offer a period of fifteen or thirty days of consecutive stop – or even more when there is better protection thanks to the collective agreement – before paying compensatory income.
Another parameter: age. For the same guarantees, an employee close to retirement will pay more than a young man who had just got into working life. Here, insurers believe that the probability of a work stoppage is stronger in a senior than a junior.
Finally, be aware that insurance companies reserve the right to refuse to ensure you for loss of income according to your health check. Their agreement is based on the information you communicate on the medical questionnaire. Thus, they check that your state of health is not too fragile. And if that were to be the case, you have to expect a refusal or pay a surprise.
Who to contact
Among the banks and insurers who offer a specific contract intended to guarantee the loss of income, the offers of La Banque Postale (Punctuals relay returned), Swiss Life (Swiss Relais Maintenance), APRI Group (Galiance work stoppage), d ‘AGF (AGF Provident Evolution) and Groupama (Groupama reinforcement) caught our attention.