What do statutory life and disability benefits cover?
Employees are entitled to life insurance benefits through statutory pension insurance. A survivor pension is payable to a surviving spouse or civil partner and is determined by the deceased’s anticipated pension. An orphan’s pension is also payable to a qualifying orphan. There are several factors that determine these pension amounts.
What life and disability benefits do most employers offer?
Private pension plans typically include supplementary life and long-term disability benefits. Since Velocity Global does not offer a pension plan, the best option is to provide an allowance or enroll the employee in our global life insurance policy.