VU Amsterdam took out a group disability insurance (AOV) with Loyalis. The insurance offers two types of coverage:
- Coverage 1: partial disability (35-80%)
- Coverage 2: full disability (80-100%)
Employees* become participants in the partial disability insurance upon commencement of employment. Do you prefer certainty in all cases? You can extend your insurance yourself by including coverage for full disability.
* The following employees are excluded from this partial disability coverage group insurance: on-call employees, employees who are not registered with the ABP pension fund, and employees who are not socially insured in the Netherlands (even if they participate in the ABP pension fund).
Why is this insurance important?
Many people assume that the Dutch social security system provides sufficient income protection in case of disability. Unfortunately, this is not always true. Government and pension fund benefits can be temporary and insufficient in some cases. The Loyalis group disability insurance (AOV) aligns well with the WIA legislation, the Collective Labour Agreement of Dutch Universities, and the pension scheme. You only insure what is necessary, which keeps the premium low. More importantly, it helps prevent your income from falling to welfare level if you become disabled.
Advantages of participating
- Security: supplement to at least 70% of your former income until state pension age
- Convenience: automatic monthly premium deduction via your gross salary, giving you a tax advantage
- Low premium: always 31% premium discount
- Accessible: no medical questions in the first 6 months after commencement of employment