What does a WGA gap insurance cost?
The abbreviation WGA stands for Work Resumption of Partially Disabled Workers. If an employee is more than 35% incapacitated for work, he will face the WGA. The WGA gap is the loss of income that can occur when an employee is on long-term disability. As an employer, you naturally want to limit your employee's financial problems as much as possible. That's why you can take out WGA gap insurance. But what does WGA gap insurance actually cost? On Alpina.nl we have listed the costs and premium determining factors of a WGA gap insurance for you.
What is a WGA gap insurance exactly?
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 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.
How is the premium for a WGA gap insurance calculated?
The cost of a WGA gap insurance depends on a number of factors, such as:
- The type of business you have
- The age of your employees
- Your employees' salaries
- The number of employees who have been disabled before
Among other things, these factors determine the amount of the premium for a WGA gap insurance.
Average costs WGA gap insurance
The premium you pay depends on various factors. A WGA gap insurance does not have to be expensive. In case you want to offer the insurance, but cannot afford to, you can choose to deduct (part of) the premium from the employee's salary. It is also good to know that the premium of a WGA gap insurance is tax deductible from the income tax. A WGA gap insurance can be more advantageous than you might think.
Request an immediate quote for WGA gap insurance at Alpina.nl!
Are you still unsure about taking out WGA gap insurance? You can request a quote without any obligation at Alpina.nl. Based on a number of details about your organization and employees, we can give you an accurate quote. The quotation will then give you an indication of the insurance premium.
Do you still have questions about taking out a WGA gap insurance? Please contact us! Our insurance specialists will be happy to help you. You can call us Monday to Friday from 08.00 to 18.00 on 088 - 688 3700. It is also possible to ask a question via chat, WhatsApp or Messenger.
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