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A group accident insurance policy covers permanent disability or death of employees due to an accident — during work and leisure time (24/7 coverage) or only during working hours, depending on choice. Payout to the employee (in case of disability) or surviving relatives (in case of death). Premium: €5–€25 per employee per month — low-cost insurance with a big impact. For SMEs with staff: often an indispensable part of the employee benefits package. Below are coverage, costs, and how Tessa insures her 12 employees.
The short answer
- What: benefit for permanent injury or death due to an accident.
- Coverage: 24/7 (work + free time) or working hours only.
- Premium: €5-€25 per employee per month.
- Benefit: fixed amount upon death, percentage upon disability.
- For whom: all employers with staff — significant employee benefit.
What is an accident?
Sudden, external event resulting in unexpected injury:
- Traffic accident.
- Fall or stumble.
- Sports accident (depending on coverage).
- Fire and explosion.
- Workplace accident (at work or on the commute).
Not covered:
- Illness (previously: absenteeism insurance and WIA).
- Insidious or long-term wear and tear (RSI, burnout).
- Injury caused by alcohol/drugs.
- Intentionally caused injury.
- Extreme sports are often excluded or more expensive.
Benefits
In the event of death due to accident
Fixed benefit to survivors — e.g. €25,000, €50,000 or more (depending on policy choice). Tax-free.
In the event of permanent disability
Percentage of established insured amount (typically €100,000–€250,000), by disability percentage:
- Complete blindness: 100%.
- Arm loss: 70-75%.
- Leg loss: 60-70%.
- Little finger loss: 5%.
- Etc. according to the “membership table” in the policy.
Tax-free — unlike a WIA benefit that pays income tax.
24/7 vs. working hours only
24/7 coverage
Work and free time. Very valuable for the employee — often the majority of accidents occur outside of work. Premium approximately 50% higher than work-time-only.
Working hours only
Only during work and the commute. Cheaper. Less valuable for office jobs with low work-related risk.
For strong staff protection: 24/7 standard.
Premium and factors
Premium depends on:
- Insured amount (death + disability).
- Industry (construction, manufacturing higher; office lower).
- 24/7 vs. working hours.
- Number of employees (volume discounts).
For office worker 24/7 with €100,000 death and €250,000 disability coverage: €10-€15/month. For construction worker: €20-€35/month.
For the employer
Advantages:
- Strong benefits package — distinctive in the SME sector.
- Low costs, high impact in the event of an incident.
- Deductible as business expenses.
- No consequences for employee contributions (no UWV system).
Tessa's group accident insurance
Tessa for 12 employees, office + warehouse work:
- 24/7 coverage.
- €50,000 upon death, €150,000 upon total disability.
- Premium: € 15/employee/month = € 180/month total = € 2,160/year.
- Per employee: €180/year insurance for €50,000-€150,000 coverage.
In the event of an employee accident (traffic during leisure time, permanent back damage, 30% disability): benefit 30% × €150,000 = €45,000 tax-free. Plus any WIA benefit and supplement.
Honest recommendation
For every SME employer with staff: collective accident insurance. Low costs (€5-€25/employee/month), high impact in the event of an incident, strong staff protection. Choose 24/7 coverage — leisure time accidents are more frequent. Good coverage levels: €50,000 death, €150,000-€250,000 disability. Combine with survivors' insurance for a complete package.
For other topics: employee protection, survivors' insurance and insurance for SMEs.
Frequently Asked Questions
Benefit for permanent injury or death due to an accident — sudden, external event resulting in unexpected injury. Work and leisure (24/7) or working hours only, depending on choice. Excludes: illness or wear and tear.
€5-€25 per employee per month depending on industry, coverage level, and 24/7 vs. working hours. For office workers with good coverage: €10-€15/month. For construction: €20-€35/month.
In the event of death: fixed amount to surviving relatives (€25,000–€100,000). In the event of permanent disability: percentage of insured amount (€100,000–€250,000) based on “limb table” — loss of arm 75%, loss of leg 70%, etc.
24/7: work + leisure — most accidents happen outside of work. Work-time-only: only during work and the commute. 24/7 is 50% more expensive but much more valuable — opt for strong protection as standard.
Tax-free — unlike WIA benefits, which are taxed in Box 1. Significant benefit for employee/survivors. Makes collective accident insurance particularly valuable as a supplement to other disability schemes.
Illness (previous absence/WIA), insidious wear and tear (RSI/burnout), alcohol/drug-related injury, intentional injury. Extreme sports often excluded or more expensive — check policy conditions for specific high-risk employees.
In addition to absenteeism insurance, WIA supplement, WGA deductible, and survivors' benefits. Group accident insurance covers the specific “accident” risk — other insurances cover illness and general disability. A complete package for a good employer.
