ANW shortfall insurance
In the UM news of 20 March we informed you about the discontinuation of the Surviving Dependants Act (Anw) survivor benefit with effect from 1 May 2018.
In case of decease, this may have negative consequences for the income of your partner. In general this primarily effects the employees in the age of 40 years and older as they have built up more ANW compensation.
All universities, including Maastricht University, through VSNU have reached an agreement with insurance company elipsLife. Here you can conclude an ANW shortfall insurance. More information on the withdrawal of ANW compensation and the insurance of elipsLife can be found in the elipsLife brochure.
It is important that you determine the financial position of your partner in the event of your death.
Check mijnABP to find out:
- The amount of your surviving dependants' pension
- The amount of your ANW compensation. PLEASE NOTE: this will be visible on mijnABP until 1 May 2018
As soon as you have your financial situation clear you can decide – potentially with the help of a financial adviser – whether additional insurance is desirable in your particular situation.
Whether you take out the ANW shortfall insurance is voluntary and therefore not mandatory. You are entirely free to opt for another insurance policy. You have to pay the premium yourself.
With regard to the collective insurance following aspects apply:
- No medical inquiries will be made if you sign up before 1 May 2018. Are you sick or incapable to work, read the answer in the brochure of elipsLife, question 4.
- Should you sign up after 1 May 2018, elipseLife inquires medical information to judge your request.
- Amounts to be insured are € 5,000 , € 7,500 or € 10,000. These amounts are net and are paid in 12-monthly instalments
- ElipsLife offers a collective premium
- A qualifying period applies when signing up for the insurance: if you were to die within one year, your dependant would not be entitled to a payment if your death was the result of a condition, illness, complaint or defect that had already arisen and was known of on the start date for the insurance. If you are in this position, you should notify ABP as soon as possible (045-5796265)
- Coverage of the insurance starts on the first day after you apply, but not sooner as on 1 May 2018
- As soon as you receive a confirmation your registration has been successful. Without a conformation, no insurance.
Leniency scheme of the ABP
The leniency scheme of the ABP is intended for, among others, employees who are incurably ill and cannot take out insurance on 1 May 2018. More information can be found on the ABP website (only in Dutch).