Anyone can suffer from ailments or accidents. If the sick leave is prolonged, it can really become noticeable. It is therefore good to have the security that endowment health insurance can offer.
Overview
With an endowment health insurance policy, you can protect your finances in the event you should suffer long-term illness or serious injury.
Do I need endowment health insurance?
The national health insurance gives you 80 per cent of your salary up to SEK 441 000 when you fall ill. If you are ill for a sufficiently long time that you receive sickness or activity compensation, you will only receive approximately 65 per cent of your normal salary.
If you have occupational health insurance via the collective agreement at your workplace, you will not lose as much during your period of illness.
The following is included in our endowment health insurance
You can find more details about what the policy covers here. Further information is available in the policy terms and conditions.
Compensation in the event of incapacity for work
Endowment health insurance can provide compensation in the form of rehabilitation capital or sickness capital if you become incapable of working due to illness or an accidental injury. The policy statement sets out the scope of the insurance cover as well as the amount of the sum insured. From the age of 45, the sum insured falls by 2.5 per cent per year.
Compensation in the event of incapacity for work is divided into two parts, depending on the length of time that passes.
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Rehabilitation capital is paid out after one year’s incapacity for work. The compensation is paid as a lump sum corresponding to 15 per cent of the sum insured.
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Sickness capital is paid out after three years’ incapacity for work. The compensation is paid with as much of the sum insured as corresponds to incapacity for work less the previously paid out rehabilitation capital.
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If, during the last 12 months of the insurance period (before the end age), you become at least 25 per cent incapable of working for longer than three months, the insurance can compensate with a lump sum equivalent to 7.5 per cent of the sum insured. This is provided that no other compensation has been paid from the insurance earlier during the insurance period. The insurance amount may be reduced due to your age.
In order to receive compensation, you must have been fully fit for work when the policy started to apply to you, as well as for 90 consecutive days before you become incapable of working.
If you do not satisfy this requirement, you can still qualify by being fully fit for work for 90 consecutive days before a new period of illness.
Important to consider
If you become incapable of working within one year from the time when you took out the insurance, as a result of illness, clinical change or other physical injury that had displayed symptoms before the policy started to apply to you, no compensation will be paid.
General limitations
Certain limitations also exist in the case of gross negligence, for compensation in case of stay abroad, war, nuclear reaction and certain acts of terrorism.
You do not need to complete a health declaration to take out the insurance. In the first 12 months after taking out the insurance, there is a restriction that means you cannot receive compensation for an ailment or bodily injury for which you sought care before the insurance took effect.
General limitations
Terms and conditions
Here you can download insurance terms and conditions. You can read in detail what applies to the insurance. For example, you need to do this before you take out the insurance and when you have suffered an injury.