What does sick leave insurance cost?

Taking out sick leave insurance is not a legal obligation. Nevertheless, it is an important insurance to consider. A sick employee involves a lot of costs, such as the continued payment of wages for two years, replacement staff, absenteeism management and reintegration. All these costs together can be high. With a sick leave insurance, you are covered for all costs that come with sick leave of an employee. Are you considering sick leave insurance? Then you might wonder what the costs are. At Diks.nl we have listed all the costs for sick leave insurance for you.

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The annual cost of sick leave insurance

The annual costs for a sick leave insurance differ per company. Every organisation is different, therefore the premium for a sick leave insurance is also different for every organisation. Good to know is that the premium is reviewed every year. Here it is looked at whether the company data has changed and whether there are personnel changes, which for example the age distribution has changed. In addition, the ratio between how much has been paid out in the past year and how much premium has been paid is taken into account. They also look at the absenteeism over the past three years and at the premium. Certain structural changes in a sector can sometimes also lead to an adjustment.

What does a sick employee cost?

Are you well aware of what a sick employee costs? Research has shown that many organisations do not know how much a long-term sick employee actually costs. This is in fact one and a half times more than most employers think. When an employee is absent due to illness, you have to deal with various costs. The biggest cost is the continued payment of wages. As an employer, you are obliged to continue paying the wages of your employee for two years. This is also referred to as the wage payment obligation. Legally, an employee receives at least 70% of his/her gross salary. If your company has signed a CAO, this may differ. Many CLAs stipulate that the sick employee receives 100% of the gross salary in the first year and 70% in the second year.

You must also take into account the costs of, for example, absenteeism counselling, replacement staff, loss of turnover and reintegration. The Central Planning Bureau has made an example of the costs per day for a sick employee. This is based on an average annual income in the Netherlands of €36,500.

Source: Netherlands Bureau for Economic Policy Analysis
Cost per day
Continued payment of wages€153
Cost of replacement staff€146
Loss of production€43
Occupational health and safety service costs€60
Leave of absence€7,50
Total cost€410

Calculate the costs of a sick leave insurance? Request a no-obligation quote!

Want to know what a sick leave insurance for your company costs? On Diks.nl you can request a quote for sick leave insurance. For this we only need some information about your company and your employees. Do you have any questions? Then you can contact us. You can reach us by telephone on +31 (0)88 - 688 37 12. We will be happy to help you.

Request a quote for sick leave insurance now!

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Last updated: 31-05-2022

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