The elipsLife product Total and Permanent Disability is offered to members of supplementary pension funds within the framework of a group contract. Individual medical underwriting is not conducted, pre-existing conditions are included.
In the event of total and permanent disability of the affiliate, irrespective of its occupation, a one-time lump sum benefit is paid to the insured. The insured capital payment ranges from €10.000 to €30.000 per affiliate (exceptions are possible on request) and the defined sum applies to all affiliates within a contract. In case of partial disability the disability level is determined based on governmental definitions (disability level of 66% and above leads to total disability).
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 Total and Permanent Disability cover is not sold on a stand-alone basis, but sold only in a bundle – named Silver Package - with the Mortality Capital coverage.
