Permanent disability following illness is a non recuperable event which can seriously compromise the livelihood of an individual who has been affected by a major pathology resulting in significant consequences on their personal economic stability and living standards.
Previdir’s “Permanent Disability of Illness” programme aims to ensure that members have an indennity payment, if due to illness, which results in a decrease or definitive loss of the ability to carry out any professional job responsability, regardless of the specific profession.
Previdir’s program regarding Permanent Disability Following Illness aims to ensure members to receive an indemnity amount payable due an illness which results in a decrease or loss of the work capabilities resulting from an accident resulting in this type of pathology. This benefits is offered irregardless of the type of profession the insured had before the manifestation of this accident.
The benefits provided for are guaranteed by the appropriate type of product agreed upon between Previdir and the primary insurance market which stipulated the benefit under question. These financial terms and conditions are constantly monitered and always updated, with regards to the general market conditions . The relative policy wordings are also under review taking into account the relevant legislative framework and collective bargaining aspects of the labor agreements, where applicable.
This program provides compensation for accidents whereby the percentage of disability of the individual exceeds 25 % or more. The amounts payable to the individual shall vary according to the amount insured for the injured individual. For those cases whereby the disability exceeds 66% (see table), the total amount insured for the insured indivudual shall be paid by insurers 100 %.
This coverage is provided for cases of permanent disability resulting from illness which are manifested after the issuance of this insurance. If multiple pathologies are reported at the same time, or at a later time, the assessment of the permanent disability shall be verified , on each individual disease which shall be considered separetely. The total compensation for these accumulations can never exceed the total amount insured for the individual’s insured capital.
This program has been defined to include the following categories of employees :
- Executives
- Middle Management
- White Collars Employees
and the following professionals:
- Entrepreneurs, Legal Representatives, Directors, Board Members, Auditors, Holders
when the insurance coverage for these individuals includes a personal accidents or life insurance offered by the Fund.
The following benefits are offered to the insureds covered under this program through Previdir:
- no medical questionaires;
- no waiting period for coverage, which is immediatly operative;
- no differences in costs or conditions; irregardless of age or gender;
- max amount insured per person € 1.032.913,80;
- coverage regarding permanent disability following illness forms an integral part of an employer’s supplementary health care/benefit program for the different categories of employees. In this respect, the contributions paid to the fund do not constitute income for the employee; subject to a maximum annual budget of € 3.615,20- article 51, second paraghaph letter (a) of TUIR “Testo Unico imposte sui Redditi” (Italian Tax Directive).
