Short-term Disability benefit provides financial security to insured employees who are unable to perform the essential duties of their own occupation due to an accident or an illness. Following a deferred period, this benefit is paid monthly for a maximum of 24 months or until the insured employee reaches the age of 65 (if less). If cover ends at a lower age, this will be specified in the Company Agreement.
The benefit payment is equal to a percentage of the insured employee’s gross annual salary at the start date of the accident or illness, up to the maximum monthly benefit payment of €20,000 (unless otherwise specified). Alternatively, the benefit payment is a fixed sum per month, as stated in the Table of Benefits.
If the insured employee receives any other income, we reduce the benefit payment by a corresponding amount. The first and last instalments are paid on a pro rata basis.