Security for you and your family

Transcription

1 Security for you and your family Skandia s Group Insurance Valid from 1 January 2013 to 31 December 2013

2 Sense of security Skandia can protect you and your family financially in the event of accident, illness and death. But we can also help secure your healthcare needs. For more information, visit skandia.se/grupp. Society takes a certain responsibility for you and your family s financial security in the event of the unexpected. But such insurance has never offered more than basic protection. For the same reason that you supplement your pension with personal savings, you should also complement your basic insurance protection with own insurance plans. There are several ways that you can obtain such complementary coverage. Group insurance is tailored for the needs of most people and is often cheaper than a corresponding individual insurance policy. With group insurance from Skandia, which you are offered via your employer or the organisation/ association you belong to, you receive a good form of insurance protection at a low cost. Whatever stage of life you are in and regardless of your family situation, we have a solution that will suit your needs. Everyone needs adequate insurance cover adults as well as children. Here you can see how the insurance system is structured in Sweden and in what areas it can be complemented. individual insurance group insurance contractual insurance statutory insurance Society gives you a basic safety net, including such protection as sick pay from Försäkringskassan when you are absent from work due to illness. In addition to this, you may have contractual insurance, which is paid by your employer under collective agreements in the labour market. These give you only basic insurance protection and need to be complemented in order for you and your family to be adequately insured. Group insurance features standardised terms and conditions and suits most people. Individual insurance gives you more options, but is usually more expensive than group insurance. 2

3 Insurance protection accordin to your life situation A group insurance plan from Skandia includes up to seven insurance components. You choose yourself which ones you want to sign up for. Here you can see our recommendations, based on your family situation. Accident insurance Protects you from accidental injury. Single Disability and accident insurance for adults Protection not only against accidents, but for illness as well. Incapacity compensation insurance Provides you with extra capital should you suffer from a long-term diminished capacity for work. Life assurance Offers financial security in the event of death. Married/ cohabitants/ partnerships Families with children Child insurance So that your children are as insured as you are. The following are good complements regardless of your life situation. Disability insurance Pays a tax-exempt extra benefit every month in the event you have to be on sick leave from work for an extended time due to illness or injury. Private healthcare insurance Offers you prompt healthcare in a private network. 3

4 It all happened so quickly... Life assurance look- Ulrika is ing at a picture of Fredrik and the kids, taken during their vacation to Thailand last winter. Fredrik has a tan, looks fit and is beaming a wide smile into the camera. He certainly doesn t look like a person who would suffer from a heart attack. Only a couple of days after Fredrik died, I began to look into how this would affect the family s financial situation. It might sound a bit strange, but it s a common reaction. Would I be able to afford the house we live in, where we are all so comfortable and near the kids friends? Fredrik had an occupational group life plan via his employer, but he had also taken out two voluntary group life plans from Skandia one through his employer and one through his union. Even though the money I received will never make up for the loss of Fredrik, it certainly helped us with a number of practical problems. We were able to pay off all our loans and keep our home. When so much has to be considered, it s nice not to have to think about money. Life assurance With life assurance, a lump-sum is paid out to the beneficiary upon the death of the insured. You are free to choose an insurance amount that suits your and your family s needs. Skandia s plan also pays a benefit in the event any of your children should die. Benefits are exempt from income tax. Here s how much Ulrika received from Skandia via Fredrik s voluntary group life plans taken out through: His employer insurance amount 10 times the Price Base Amount* (see below) SEK 445,000 His union insurance amount 20 times the Price Base Amount* SEK 890,000 Total SEK 1,335,000 *The Price Base Amount for 2013 is SEK 44,500. The insurance amount is determined by the current Price Base Amount to protect the value of the insurance and ensure that it follows the general price and cost trend from year to year. 4

5 I fell off my horse... Disability insurance Caroline has ridden horses her entire life and has had her own horse since she was 15. But last winter, an accident brought her favourite pastime to a screeching halt. Caroline and her horse were out on their usual round in the woods when her horse was spooked by a deer and set off on a full gallop. Caroline fell off and seriously hurt her back. Caroline had taken out a group disability insurance plan with Skandia, and after 3 months on sick leave, she began to receive benefits. The extra money from Skandia is really needed now that I have been on sick leave for so long. Eight months have already passed since my accident, and the doctor says that my rehabilitation will take at least another four months. But then I plan to get back in the saddle again! Disability insurance Disability insurance pays you benefits in the event you have to take sick leave by at least 25 %. The insurance pays benefits for a maximum of 5 years during a 7-year period. The qualifying period is always at least 90 days. The combined benefits you receive from Försäkringskassan, your occupational pension and disability insurance may compensate you for up to a maximum of 90 % of your income. The insurance amount you choose for your disability insurance depends on your income. If your level of income changes, you must apply yourself for a change in your disability insurance level. The insurance can only be purchased by group members. Benefits are exempt from income tax. Here s how much Caroline receives from Skandia through her voluntary group disability insurance: Caroline earns SEK 30,000/month and has taken out a group disability insurance corresponding to her salary. For 100% sick leave, she receives SEK 2,100/month 5

6 Incapacity compensation insurance And I thought I would work until I turned Linda was diagnosed with MS when she was 38. Despite this, she has managed to work 75 % during the last 2 years. But now as Linda is nearing 40, she isn t up to working as much any more. Her symptoms have worsened, and she has now been notified that she qualifies for only 50 % disability benefits from Försäkringskassan due to her permanent, diminished capacity for work. To make things worse, Linda has just found out that she has breast cancer. Faced with all this, I was lucky my employer had a plan with Skandia. Honestly, I really didn t know what incapacity compensation insurance entailed, but you can imagine how happy I am that I have it. Incapacity compensation insurance Incapacity compensation insurance includes incapacity compensation and diagnosis insurance. Incapacity compensation pays you a benefit if, prior to turning 60, you suffer from a permanent, diminished capacity for work by at least 25%, or if you have had a diminished capacity for work by at least 25% for an uninterrupted period of three years or for a combined total of three years during a fiveyear period. The size of the benefit depends on your contracted insurance amount, your age when you qualified for the right to the benefit, and your degree of diminished capacity for work. Diagnosis insurance pays you a benefit if you, not later than the end of the month in which you turn 56, receive any of the following diagnoses: malignant cancer, myocardial infarction, stroke, multiple sclerosis (MS), or have undergone a heart bypass operation. The benefits are exempt from income tax. Disability-capital insurance If, through your group insurance plan, you are covered by Skandia s disability-capital insurance, you can find more information by visiting skandia.se/grupp, under the tab Group insurance. Disability-capital insurance is being gradually phased out and replaced with incapacity compensation insurance. Here s how much Linda received from Skandia through her incapacity compensation insurance: Incapacity compensation insurance amount equivalent to 10 times the Price Base Amount* (see p. 4), SEK 445,000. Linda was 39 when her right to benefits commenced, which means that she is entitled to 30 % of SEK 445,000. SEK 133,500 Diagnosis insurance: insurance amount equivalent to the Price Base Amount (SEK 44,500). For a diagnosis of breast cancer, the benefit payable is SEK 44,500 Total benefit from Incapacity compensation insurance SEK 178,000 6

7 It was my own fault... Accident insurance Patrik has talks about his accident. a wry smile when he The whole ordeal was actually quite embarrassing. I was up in Åre with a few friends, and we had two awesome, sunny days with lots of skiing. I was skiing like a champ. On day three we had actually planned to pack the car early in the morning in order to get a good start home, but I nagged my buddies to take one last run. That was obviously not a good idea Patrik headed for the moguls, even though he was actually a bit tired. He crossed his tips on a mogul and fell hard. He suffered a serious facture to his tibula that required an operation and put him on sick leave for 3 months. Still, he s happy it wasn t worse. It s a good thing I signed up for our group accident insurance plan at work. It protected me at least from any financial difficulty. The teasing from my buddies is something I ll have to live with. Accident insurance Accident insurance applies in most cases 24 hours a day and compensates you for the accidental events listed below. One condition for the right to benefits is that your injury required medical care. The insurance has no deductible. An accidental injury is a bodily injury that you sustain involuntarily as a result of a sudden external event. Benefits are paid for the following, among other things: medical costs, costs for dental injury, travel costs, costs for rehabilitation/medical devices, crisis therapy, pain and suffering, medical and financial invalidity, and for scarring. A lump-sum benefit is payable in the event of accidental death. The size of the invalidity benefit is determined by the insurance amount, your age at the time of the accident, and your degree of invalidity. Benefits are exempt from income tax. Here s how much Patrik received from Skandia s group accident insurance: Costs for visits to the doctor and physiotherapist, up to the so-called medical cost ceiling level SEK 1,100 Compensation for travel to and from visits to the doctor and physiotherapist SEK 3,238 Compensation for medicines SEK 400 Compensation for ruined ski pants SEK 1,500 Compensation for pain and suffering SEK 7,200 Compensation for enduring problems, assessed at 3 % medical invalidity, based on chosen insurance amount of 30 times the Price Base Amount* (see p. 4) SEK 40,050 Total compensation paid for Patrik s injury SEK 53,488 7

8 I was only Disability and accident insurance for adults Anna explains what happened two years ago. The alarm clock goes off as usual at 6.30 a.m., and both my husband and I wake up. Since I usually snooze a bit more, my husband gets up and puts the coffee on. After 15 minutes, he calls out, You better get up now, otherwise we ll be late. No answer. He comes in and finds me laying unconscious in bed, and my face looks strange. At the hospital they determined that I had suffered a stroke. Since Anna got to the hospital quickly and through rehabilitation, she was able to regain much of her impaired function. Disability and accident insurance for adults The insurance applies with the same scope as accident insurance (see previous page). But through the disability supplement, it pays benefits for medical invalidity and scarring as a result of an illness. The size of the invalidity benefit is determined by the insurance amount, the insured s age at the onset of the illness and the degree of invalidity. Benefits are exempt from income tax. Here s how much Anna received from her disability and accident insurance: Compensation for enduring problems, assessed at 15% medical invalidity, based on a contracted insurance amount of 20 times the Price Base Amount* (see page 4) SEK 133,500 The example above illustrates how the benefit is calculated. Note that the degree of medical invalidity for a given diagnosis can vary, depending on the severity of the functional impairment caused by the illness. A stroke diagnosis can thus result in other degrees of medical invalidity. 8

9 Accidents seldom come alone... Child insurance Ludvig & Maja had taken their bikes to the store to buy candy. I still remember how frightened I was when Ludvig came home bawling only a few minutes later, recalls their mother, Maria. His hands were all bloody and his jeans were torn. The children s handlebars had hooked together, causing both to fall off their bikes. Ludvig ended up under Maja s bike and hurt himself badly. At the hospital it was confirmed that Ludvig had broken his right arm in two places. Only a half-year after his bike accident, we had to visit the hospital again, says Maria. Maja was tired, she was eating little and was thirsty all the time. After some tests we learned that she had an elevated level of blood sugar that is, diabetes. The doctor explained that there are quite a few children who suffer from diabetes and that it requires a certain change in lifestyle. Maja now has to take insulin every day. I contacted Skandia, who informed me that she is entitled to compensation for medical invalidity. I hoped we would never need to use the insurance, but in the course of just a year, we have needed it on two occasions. Child insurance Skandia s child insurance covers accidents and illness. You pay only one premium, no matter how many children you have. Even your spouse s/ registered partner s/cohabitant s children are covered if they are registered at the same address as you. The insurance applies 24 hours a day, and there is no deductible. A condition for your right to benefits is that the accident required medical care. Benefits are exempt from income tax. Here s how much Ludvig received from Skandia s child insurance: Compensation for travel to the doctor and physiotherapist SEK 1,152 Compensation for ruined clothes SEK 1,070 Compensation for enduring impairment, assessed at 2 % of medical invalidity, based on a contracted insurance amount of 30 times the Price Base Amount* (see p. 4) SEK 26,700 Total benefits paid for Ludvig s injury SEK 28,922 Here s how much Maja received from Skandia s child insurance: Compensation for 5 days in hospital SEK 1,113 Compensation for medical invalidity for type 1 diabetes (15 %), based on a contracted insurance amount of 30 times the Price Base Amount* (see p. 4) SEK 200,250 Total benefits paid for Maja s illness SEK 201,363 9

10 It was a drag not being able to run... Private healthcare insurance Niklas just turned 35 and has always been very athletic. He used to play a lot of soccer and floor hockey, but for the past few years he s narrowed it down to jogging 3-4 times a week. Last autumn I was not a happy camper, says Niklas. Suddenly I began suffering from a sharp pain in my right knee when I was out running. Soon thereafter I had to stop running altogether, and this put me in a bad spirit both at home and at work. Then a workmate reminded me that I could call Skandia s Healthcare Planning service. After a call to Skandia, I was given a time with an orthopaedic surgeon. My knee was x-rayed and the doctor said that I had torn cartilage that needed to be operated on. Normally there is a long queue for such an operation, so it was a good thing I signed up for Skandia s private healthcare insurance. Now some time has passed since I first called Skandia, and my rehab is going well. In no time I ll be running again! Private healthcare insurance group Skandia s private healthcare insurance gives you access to qualified, specialist care when you need it most. Should something happen to you that requires treatment by a specialist or an operation, the insurance will cover it. You receive prompt access to the best possible care and treatment via a network of private healthcare providers. Skandia s private healthcare insurance includes a healthcare advice service for you and your children, 24 hours a day. Skandia paid the following for Niklas: Doctor s costs, incl. travel to and from for each visit X-ray costs Operation costs Rehabilitation after the operation 10

11 Here s how to apply for the insurance To apply for the insurance, contact the head of insurance or HR at your company/federation/association, who will refer you to a group insurance application that is specific for your company/ federation/association. It s good insurance cover at a low cost. You are also welcome to contact Skandia Customer Service on , or by at grupp@skandia.se. See the insurance guide for more information about the insurances described here, as well as for forms, brochures, and terms and conditions. Welcome to skandia.se/grupp 11

12 Skandia Stockholm T skandia.se 90346:8_eng (oktober -12) Livförsäkringsaktiebolaget Skandia (publ) Säte: Registered Stockholm offi ce: Stockholm Org.nr: Reg. no.: Försäkringsaktiebolaget Skandia Insurance Company Skandia Ltd (publ) Säte: Registered Stockholm offi ce: Stockholm Org.nr: Reg. no.: