Sick Leave: The advantages of mutual insurance

Foresight and sick leave

In the 1990s, faced with the deficits accumulated by the social Security governments have given the green light to insurance companies to develop “sick leave” and additional health insurance systems.

THE mutual provident funds those more commonly called " work stoppage" or sick leave were created in 1994 by the then Minister of Health Alain Madeline in order to help the Self-employed workers Or TNS And liberal professions And business owners to improve their social Security far below the social coverage of employees. At the time, it concerned two million poorly protected people. thus was promulgated on February 11, 1994 the Madelin law on the protection of this category of population for the health and welfare .

the principle is always the same: in the event of work stoppage following an illness or accident the health insurance reimburses you in the form of allowances which are complementary to salary in addition to the indemnity paid to you by social security and the social system to which you belong. This allows you to maintain your income and your purchasing power of your family in case of work stoppage or sick leave . Fides Wealth Finance offers customized solutions that adapt the franchises and also options to suit everyone's profile. If you have children who are having children, in case of work stopping a education pension is paid for each child until their 25th birthday. Other options like general expenses guarantee can allow you to pay the fixed costs of your business.

Thus, in return for the guarantees chosen and your salary coverage, you pay a deductible monthly contribution from your company.

As a reminder a work stopping or sick leave can last up to three years, beyond three years you must go into incapacity of work which becomes permanent. The degree of incapacity is determined by a doctor and by a scale specific to your profession. The greater the disability, the greater the disability pension paid is important. For example, a pianist who loses a finger will have a higher disability rate than a tradesman. The payment of this annuity in the event of total or partial disability provides you with additional salary until you retire. The flexibility of this coverage comes from the fact that you choose the amount of your disability pension .

Because in sick leave insurance it is necessary to provide for tragic situations, most contracts provide for death insurance in the event that the insured dies of a accident . In this case the capital is paid to the person of his choice. The amount of the insurance premium depends on the amount of the death benefit chooses may be deductible.

In conclusion the Madelin Law cous allows you to improve your social protection while deducting from your professional income the social security contributions paid to insurance companies.

If you have any questions about your pension, get in touch with us: we will give you explanations from specialists on the elements to pay attention to in choosing the right pension strategy.

Our consulting practice areas

• Provident-health-retirement ,
• Special pension plans,
• Company provident-retirement-health plan,
• Life insurance,
• Optional health insurance,
• Workers' Compensation Insurance,
• Disability Insurance.
• Addiction.