What is the meaning of WGA gap insurance?
Are you as an employer already familiar with the WGA gap insurance? A WGA gap insurance is also known as WGA gap insurance or WGA top-up insurance. A WGA gap insurance can be taken out to limit the loss of income of your employees in case of long-term disability as much as possible. In this article on Diks.nl we tell you more about the meaning of WGA gap insurance and how you can take out this insurance.
What exactly is WGA and WGA gap?
WGA stands for Work Resumption Partially Disabled Persons. The WGA is part of the Work and Income according to Labour Capacity Act (WIA). If an employee is more than 35% incapacitated for work, he will have to deal with the WGA. The WGA gap is the loss of income that can occur when an employee is unfit for work for a long time. In the Netherlands, an employer is obliged to continue paying wages for two years. After this period, the employee will receive a WGA salary-related benefit. After a minimum of 3 months and a maximum of 24 months, this benefit will be transferred to a WGA benefit (wage supplementation/continuation).
There is a WGA gap if the employee receives the WGA continuation benefit and his total income drops below 70% of the annual wage insured for him. A WHA gap means that your employee's income drops significantly, by as much as 30% of their former income. To protect your employee against this, as an employer you can take out WGA gap insurance.
What is a WGA gap insurance?
A WGA gap insurance is an insurance that you can take out to protect your employees against loss of income if they are unfit for work for a long time. With a WGA gap insurance, your employee receives a supplement to the statutory WGA continuation benefit if there is a WGA gap. In that case, the insurer supplements the employee's income to 70% times the disability percentage times the former salary. With a WGA gap insurance, you give your employees more financial security in case they become disabled and cannot work for a longer period of time.
What are the advantages of a WGA gap insurance?
A WGA gap insurance has several advantages:
- A WGA gap insurance fills the WGA gap up to the AOW age
- The insurer offers assistance in the reintegration of the employee
- WGA gap insurance is a good secondary employment condition for your employees
- The insurance contributes to the financial well-being of your employees
- The premium of a WGA gap insurance is tax deductible
- The benefit is stable in value
Request a quote for a WGA gap insurance directly on Diks.nl
Before you take out WGA gap insurance, you will want to know what the premium will be. At Diks.nl you can request a quote without any obligation. Based on a few details we can provide you with an accurate quote. Do you have any questions about requesting a quote or taking out a WGA gap insurance? Please contact us!
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