Group insurance

The group insurance becomes payable in the event of death, loss of the ability to work, certain critical illnesses and accident.

The group insurance is a one-year insurance. The board determines the group insurance covers and premium annually. In 2019, the premium accounts for DKK 1,860 annually. The group insurance is paid through bonus. DIP reports annually the premium to SKAT (the Danish tax administration). The premium is taxable income.

The insurance includes members under age 68 who meet one of below-mentioned criteria:

  • you pay contributions and are not subject to the rules on high savings pension schemes
  • you are subject to con-contributory cover
  • you receive retirement pension without having been transferred to dormant membership
  • you have reached age 60 on transfer to dormant membership. 


Lump sum disability benefit

Payment of the lump sum disability benefit is tax-exempt.

The size of the sum depends on your age at the time you are granted disability pension.

Members, who receive the lump sum disability benefit, are also entitled to disability pension, and their children are eligible for a possible children’s pension.

If the disability is caused by an accident, you may be entitled to compensation from the accident insurance.

Lump sum death benefit

The lump sum death benefit is paid to the beneficiary/beneficiaries.

The sum is paid if you die before reaching age 68. The payment is tax-exempt, however, it is subject to an inheritance tax if payment is made to others than spouse or registered partner.

The lump sum death benefit is always established with the beneficiary next of kin. The size of the lump sum depends on your age at the time of death.

Certain critical illnesses

If you contract one of the critical illnesses included in the group insurance before reaching age 60, you are entitled to a DKK 150,000 lump sum. Between age 60-68 the lump sum amounts to DKK 133,000. The payment is tax-exempt.

Below illnesses are examples of certain critical illnesses:

  • malignant cancer
  • blood clot in the heart
  • bypass surgery
  • stroke.

The Group insurance pamphlet includes a total list of the critical illnesses that are covered by the insurance.

Payment is conditional on the illness being diagnosed during the policy period.

Accident insurance

The accident insurance is a part of DIP's group insurances which covers you around the clock if you have an disabling accident. Dental injuries and injuries involving your glasses are also covered. Your family is not covered. 

The insurance is terminated at the end of the month in which you turn 68 unless the insurance has already been terminated. Compensation is paid if the degree of disability 5 % or more.

As a driver of a motorcycle you are also insured.

The insurance covers injuries from accidents which occur in the policy period. An accident is defined as a certain incident causing personal injury. The insurance also covers accidents resulting from justifiable attempts to prevent injuries to people or property. 

Where does the insurance cover
The insurance covers insurance events occuring in the Nordic countries and during travelling, visits, expatriation, employment in international organisations, study visits or the like in the remaining part of the world. Codan can require a medical examination being carried out in Denmark. 

Reporting an injury 
If you want to report an injury, you must contact:

Codan Forsikring Skade Ulykke
Gl. Kongevej 60
1790 København V

Phone no.:  33 55 38 30

The policy no. is 646 3048671.