The group Long Term Care program with with variable premiums and annuities covers the risk of non self-sufficiency at any time, regardless of the insured’s labour responsabilities / work duties. It meets both individual and collective needs on a personalized “tailor made“ solution. This type of coverage and affiliation constitutes a great reference model for directors, owners, collaborators and employees.
Recognition of the loss of self-sufficiency occurs when it has been established, according to specific criteria and modalities, that the policyholder has achieved a minimum score in calculating the degree of inability to perform the following basic acts of daily life.
Conditions of access to insurance coverage
- Membership of the LTC program must necessarily apply to all members of the same homogeneous category of employees of the company and must be provided for by a Company Agreement or Regulation; or to cover all Directors, Contributors, Members, Owners and Legal Business Representatives
- It is necessary to complete the differentiated anamnestic questionnaire in relation to the different age groups
- Age no less than 18 years and no older than 70 years
Periods of shortage
- injury: no deficiency;
- for illness: 3 years in case the occurrence of Non-self-sufficiency is the result of degenerative diseases of the brain due to organic cause (e.g. Alzheimer’s or Parkinson’s disease), 1 year for other diseases;
- acquired immunodeficiency syndrome (AIDS), or other related pathology: 5 years.
The cost for membership affiliation in the PREVIDIR Fund is 1% with a minimum of € 25.82.
The most convenient aspect of the program is, fo sure, The tax implications for the insureds covered , more advantageous conditions when implementing alternative LTC Long Term Care plans.
According to the provisions of lett. f-quater) of the second paragraph of art. 51 of the TUIR: the contributions and premiums paid by the employer in favor of all employees or categories of employees for benefits, even in insurance form, concerning the risk of non self-sufficiency in the carrying out acts of daily life or having as their object the risk of serious pathologies.
In this case it is a deductible cost for the company and must pay, as a social security contribution, 10% (solidarity contribution).