advance and after-sale information Group Insurance including Disability Insurance Illness

Transcription

1 group insurance advance and after-sale information Group Insurance including Disability Insurance Illness Applicable as of January 1, 2010

2 Information on Group Insurance including Disability Insurance Illness The following is a presentation of Länsförsäkringar s Group Insurance, tailored for companies and organisations that wish to give employees the potential to ease their financial situation in the event of illness, accidents and death. The following pages describe the insurance policies included in the group insurance package. The conditions that apply to you personally are shown in your company s/organisation s application documents. These also show how much each insurance policy costs. This information is of a general nature. The complete terms and conditions are available by contacting us or by accessing them at LIFE INSURANCE The life insurance policy provides compensation for beneficiaries in the event of the death of the insured. CHILD COVERage Child cover applies up to the age of 18. It provides compensation in conjunction with sustained work disability for the child and in the event of death. occupational disability benefit Early payout is a benefit that can be made to the insured in the event of long-term illness. It is paid as a lump sum after two years of consecutive occupational disability. An additional amount is paid if the occupation disability continues after four years. The early payout is determined in relation to the insurance amount and the age of the insured when payment is made. Early payout requires that the level of occupational disability is at least 50 percent. The maximum age for entitlement to payments is 59. ACCIDENT INSURANCE Most people are insured during their working hours, but, of course, accidents occur throughout the day. The key feature of accident insurance is compensation for disability. Accident insurance also covers costs associated with medical examinations, travel and dental expenses and any additional costs. Compensation may also be provided for pain and suffering and in the event of death as a result of accidents. Accident insurance applies throughout the entire day. DISABILITY insurance ILLNESS Medical disability Compensation may be paid for medical disability in connection with illness (sustained reduction of certain bodily functions). The insurance policy applies only to certain specified medical conditions, refer to the terms and conditions. Financial first aid If you are affected by a tumour illness, ulcerous, colitis, Crohn s disease, SLE (lupus), ALS (Amyotrophic lateral sclerosis) or Parkinson s disease, compensation in an amount of one price basic amount is paid as soon as the diagnosis is confirmed. Compensation for hospitalisation In the case of accidental injuries and illness, compensation may be paid for hospitalisation in the amount of SEK 200/day for a maximum of 365 days. The section governing hospitalisation does not apply in conjunction with direct participation in boxing or some other martial arts sport in which blows/kicks or equivalent are featured and in conjunction with stays outside of Sweden. sickness INSURANCE Illness frequently entails a loss of some gross income, which can be significant in the case of long-term illness. Sickness insurance covers part of the loss of income. Compensation is tax-free. A minimum of 25 percent sick leave is required for any payment to be made. The length of the payment period depends on the specific contract for the group to which you belong. In the event

3 of a complete loss of working capacity, the entire amount is paid. If working capacity is reduced by at least 25 percent, an amount is paid that corresponds to the reduction. CHILD INSURANCE The insurance policy provides compensation in conjunction with disability due to accident or illness. The policy may also provide compensation in the event of hospitalisation and make cost contributions. In conjunction with accidents, travel, medicine, dental damage, rehabilitation and additional expenses are reimbursed. A death benefit is paid if accidents or illness lead to death. The insurance extends no longer than the end of the calendar year during which the child reaches the age of 25. All children of group members are insured. The children of spouses or cohabitants must be registered at the same address as group members to be covered by the insurance. Special rules apply in the case of adopted children and children born abroad. Compensation is not paid for congenital illnesses, injuries sustained during birth, genetic illnesses or modified diets. YOUR HEALTH When you apply for an insurance policy that offers cover in the event of illness or death, we need to know your current health status. This is to ensure you get the insurance policy you require and that you know that it will function should anything occur in the future. GENERAL INFORMATION ABOUT GROUP INSURANCE The insurer The insurer for the life insurance policy is Länsförsäkringar GrupplivFörsäkringsaktiebolag (publ) corporate registration no , SE Stockholm. The insurer for early payout, medical, child and accident insurance is Länsförsäkringar Sak Försäkringsaktiebolag (publ), corporate registration no , SE , Stockholm. The registered office of the Board of Directors is in Stockholm. Hereinafter, the insurers are referred to as Länsförsäkringar. Länsförsäkringar is under the supervision of Finansinspektionen (Swedish Financial Supervisory Authority) and the company s marketing is encompassed by the provisions of the Swedish Marketing Act. Policyholders Each group member and his/her co-insured are owners and policyholders for their insurance. Group members Those who are part of the group of persons covered by the group contract and who have taken out a group insurance policy, such as an employee in a company or a member of an organisation. Co-insured Spouse, registered partner or cohabitant who are insured with the group members. Beneficiaries In the case of group life insurance, there is a general beneficiary clause that differs for the group member and co-insured. In terms of amounts paid in the event of death, the beneficiaries are ranked as follows: For group member insurance 1) Spouse or cohabitant 2) Group member s inheritors For co-insured insurance 1) Group member 2) Co-insured s inheritors If you wish to have an alternative beneficiary clause, you must make a written application to Länsförsäkringar. Forms for this purpose are available at www. lansförsakringar.se/grupp or from your group representative.

4 Duration of the insurance policy The basis of the group insurance is a group contract between Länsförsäkringar and the group representative. A precondition for the validity of the individual insurance is that the group contract is valid. The insurance contract extends for one year and is extended for a year at each time unless it is terminated by the policyholder or Länsförsäkringar. Ahead of the extension of the contract each year, Länsförsäkringar is entitled to amend the insurance terms and conditions and the premium amount. The policyholder can terminate insurance at any time. Unless otherwise stated in the group contract, in the case of obligatory affiliation, Länsförsäkringar s liability arises on the day following the signing of the group contract even though the premium has not yet been paid. In the case of people who subsequently enter the group, such group members or the co-insured of group members, liability is counted from the day after entry to the group. Unless otherwise stated in the group contract, in the case of voluntary affiliation, Länsförsäkringar s liability arises on the day following the signing of the group contract, even though the premium has not yet been paid, for those group members who fulfil the affiliation requirements and who have applied for insurance and for those who are affiliated as co-insured of a group member. If a group member affiliates later, liability is counted from the day after the application. Even if the group contract continues to apply, the group insurance policy ceases if a group member leaves the insurance-entitled group or the insured reaches the age of 65. The co-insured s insurance ceases if the group member s insurance ceases or if the marriage or the co-habitant relationship ceases. Taxes Payments to the insurers are not tax deductible. Any insurance payments made are tax-free. How much does insurance cost? The cost of insurance policies is determined in the group contract. The premium is presented in your company/organisation s application documentation. How we calculate the premium for your insurance When we calculate how much you are to pay for your insurance, we need to make a number of assumptions regarding: Cost of risk Operating expenses First, we calculate the cost of risk In this case we take into consideration the lifespan and level of illness among the insured in the group to which you belong. Each year, the outcome is checked and the premium adjusted in relation to this. The premiums for accident insurance and child insurance are calculated on the basis of all the insured encompassed by Länsförsäkringar s group insurance. Then we calculate the operating expenses Länsförsäkringar incurs costs when the insurance is taken out as well as costs for claims payments and administration. In addition

5 to covering the costs of claims payments, insurance premiums must also cover these expenses. The premium is shown in a separate application document that you will receive from your group representative.. Payment If the premium notice is not paid on the due date, Länsförsäkringar is entitled to cancel the contract.examples of important limitations in the insurance policy The entire insurance policy or sections of it do not apply in the following circumstances: In conjunction with periods spent outside the Nordic region During war or political disturbances similar to war In conjunction with criminal acts In conjunction with nuclear power processes In the case of child insurance there are also limitations governing the effects of illness or bodily ailments that showed symptoms before the insurance began to apply. Nor does the policy cover injuries/additional costs as a result of, for example, autism, delayed psychomotoric development/mental retardation. TERMS AND CONDITIONS The complete text of the terms and conditions always forms the basis of the contract. These terms and conditions are available by contacting us, or by download at YOUR RIGHT OF REGRET In your capacity as an individual, when you take out insurance by means of a distance contract pursuant to the Distance Contracts and Home Sales Act, you are entitled to regret the purchase within 30 days from the contractual date. A precondition for the right of regret is that both parties, at your request, have not completed their obligations pursuant to the distance contract. Contact your group representative in this case. If you exercise your right of regret, Länsförsäkringar is entitled to demand payment for the period during which you had access to the insurance and reasonable reimbursement for costs attributable to the completion of the contract. Insured individuals who are dissatisfied with the company s decisions in issues relating to the insurance policy may request a review of the decision. The request should be submitted to the person in charge of handling the issue. ABOUT LÄNSFÖRSÄKRINGAR Länsförsäkringar is made up of 24 independent Länsförsäkringar companies, which jointly own Länsförsäkringar AB and its subsidiaries. The local Länsförsäkringar companies offer a broad spectrum of services in savings, insurance and banking for companies and individuals. PERSONAL DATA ACT (PuL) The personal information that Länsförsäkringar obtains concerning you is treated in line with the provisions of the Personal Data Act (PuL). The information is required for us to be able to administrate the insurance policy, complete our contractual obligations and satisfy your wishes as a customer and for meeting the other objectives of the policy terms and conditions. Telephone calls with you as a customer may be recorded as documentation of the information provided. Pursuant to PuL, you are entitled to request information and correction of the personal data concerning you. Complete information concerning our processing of your personal data is available in the insurance terms and conditions which are available on our website or can be ordered from your group representative or from Länsförsäkringar. Länsförsäkringar Sak Försäkringsaktiebolag (publ) and Länsförsäkringar GrupplivFörsäkringsaktiebolag (publ are responsible for personal information.

6 Länsförsäkringar Bergslagen Länsförsäkringar Blekinge Dalarnas Försäkringsbolag Länsförsäkringar Gotland Länsförsäkringar Gävleborg Länsförsäkringar Göinge Länsförsäkringar Göteborg och Bohuslän Länsförsäkringar Halland Länsförsäkringar Jämtland Länsförsäkringar Jönköping Länsförsäkringar Kalmar län Länsförsäkringar Kristianstad Länsförsäkring Kronoberg Länsförsäkringar Norrbotten Länsförsäkringar Skaraborg Länsförsäkringar Skåne Länsförsäkringar Stockholm Länsförsäkringar Södermanland Länsförsäkringar Uppsala Länsförsäkringar Värmland Länsförsäkringar Västerbotten Länsförsäkringar Västernorrland Länsförsäkringar Älvsborg Östgöta Brandstodsbolag LFAB utg 00 EN Form & Profil Tryck Intellecta Falun