Group Life Insurance Fee

Employers are obliged to take out a group life insurance for employees if the generally binding collective bargaining agreement applicable in the business sector in question so requires.

The insurance fee varies between different insurance companies and was in 2010 approximately 0.072 % of the salaries.

The employees’ group life insurance and the accident insurance are managed together.The accident insurance company collects the group life insurance fee simultaneously with the accident insurance fee.

The employees’ group life insurance compensates an employee’s relatives in case the employee dies whilst at work or during leisure hours. Self-employed persons are not within the scope of group life insurances.