Business
Risk insurance
With risk insurance you can manage the risks of your company and employees
- The insured sum will help you cover the costs arising from your employee’s accident or death
- Life insurance is becoming a part of motivational packages, which helps to recruit employees and hold on to your specialists
- By insuring your employees, you behave in a socially responsible manner
Risk insurance ensures for your employees around the clock and almost worldwide life insurance cover, which will be valid in the extent of the selected sum insured as of the moment of making the first insurance payment. In the event of an employee's death, the insured sum will be paid to the beneficiary, which may be the company or the employee's loved one.
The agreement can be complemented by further insurance covers:
- Insurance against severe illness, which helps to compensate the loss of income and the added expenses accompanying severe illness. Severe illnesses include, for example, malignant tumours, myocardial infarction, heart surgeries, kidney failure, stroke, etc.
- Accident insurance, which compensates for lost income and/or covers other expenditure in the event of a loss of function or death as a result of an accident.
The unexpected may happen to any one of us; accordingly, we at TNT provide insurance for all our employees. – TNT, courier delivery services company
We consider our employees the key asset of our company and have endeavoured to create, in addition to salaries, an extensive incentive package to promote their development during both work and leisure. – AGA, industrial gas producer
Pricing
You can insure individual employees as well as the entire personnel. The price of the insurance agreement is calculated individually for each employee and depends on the age, health status, hobbies, and occupation of the employee. Different insured sums may be applicable to different employees.
The price of the life insurance cover agreed upon entry into the agreement will not be subject to recalculation. The expected duration of an agreement is 3–5 years.
Example of price formation:
- 5-year agreement
- 10 employees insured
- Ages of the employees ranging from 30 to 45 and all in a good health status
- The employer as the beneficiary
- The company's area of activity is construction works
| Insurance cover | Sum insured | Total monthly premium |
|---|---|---|
| Risk insurance | EUR 25,000 per person | EUR 68 |
| Extra accident cover for disability* | EUR 25,000 per person | EUR 50 |
Taxation
If the beneficiary is a company, the fringe benefit tax is not charged. In case of a loss event, the indemnity shall be paid to the company.
If the beneficiary is a person close to the employee, the company shall pay the fringe benefit tax in addition to monthly insurance premium. In case of a loss event, the indemnity shall be paid to the person close to the employee.
Please read the terms and conditions of risk insurance before you sign the insurance contract.
General Terms and Conditions of AS SEB Elu- ja Pensionikindlustus
Risk Insurance