The Long-Term Care product of elipsLife is offered to members of supplementary pension funds within a framework of a group contract. Underwriting on the affiliate is not applied/conducted, pre-existing conditions are included.
In the event of an affiliate’s disability, the level of disability is assessed by a doctor based on the recognized score system Activities of Daily Living (ADL) This score system determines the insured person’s level of disability based on six daily self-care activities, whereof each is rated with a maximum of 10 points. The benefits are payable in full once an insured reaches at least 45 points in total. The insured person has to be at least 90 days in state of dependency in order to qualify for the benefit payment. As the contract does not include a waiting period, the annuity is paid to the insured retroactively, as from the start date of dependency.
The offered standard benefit is between €1.000-€1.500 per month and affiliate and paid to the insured person as a life-long annuity. The standard benefit is specified in the group contract and applies equally to all affiliates within the contract.
The applicable tariff is calculated based on the composition of the reported portfolio and the premium is determined and billed per head. The tariff is guaranteed for the standard contract period of one year.
The coverage Long-Term Care is not sold stand alone, but only sold in a bundle – named Gold Package together with the products Mortality Capital and Total and Permanent Disability only.
