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 2017, the premium accounts for DKK 1,754 annually. The group insurance is paid through bonus.
The insurance includes members under age 67:
- who are paying members not subject to the rules on high savings pension schemes
- who are subject to con-contributory cover
- who receive retirement pension without having been transferred to dormant membership
- who have reached age 60 on transfer to dormant membership.
On Regulations 4 the group insurance is optional.
THE GROUP INSURANCE INCLUDES BELOW COVERS:
Lump sum disability benefit
Payment of the lump sum disability benefit is tax-exempt.
On Regulations 4, the lump sum disability benefit can be paid if you are granted public voluntary early pension before reaching age 60.
On Regulations 1, 2 and 3, the lump sum disability benefit can be paid if you are granted disability pension before reaching age 60 because your ability to work is permanently reduced by 2/3.
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.
Lunp sum death benefit
The lump sum death benefit is paid to the beneficiary/beneficiaries.
The sum is paid if you die before reaching age 67. 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 60-67 the lump sum amounts to DKK 100,000. The payment is tax-exempt.
Below illnesses are examples of certain critical illnesses:
• malignant cancer
• blood clot in the heart
• bypass surgery
The pamphlet “Group insurance” 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.
On 1 January 2009 expiry of the cover was changed from age 60 to age 67. This means that if you are diagnosed with an illness after having reached age 60 and up until 1 January 2009 you will not be entitled to payment for this illness. If you, however, are diagnosed with an illness, that qualifies for payment after 1 January 2009, you will be entitled to payment for the illness – assuming that you are covered by the group insurance at the time.
If you have an accident you can receive a payment of up to DKK 800,000 if you have not reached age 67. The payment is tax-exempt.
An accident is defined as a sudden incident causing personal injury. The size of the payment depends on the degree of injury. For further information, please see the pamphlet “Group insurance”.
Reporting an injury
If you want to report an injury, you must contact Tryg Forsikring. The policy no. is 882-20412.