Wage Protection is it For You?
For most people, everyday life runs relatively smoothly and routinely. There are seldom the big things that break the fixed rhythm in a negative way, but it is nevertheless a good idea to be prepared in case the accident should be out.
Many Danes insure themselves in different areas, and if you are not already insured, it is advisable that you should at least consider whether to stay there. One of the key areas you can and may also assure yourself is when it comes to your job and your monthly income. This is quite central to the life work. We are thinking of wage insurance here.
Secure Yourself with Payroll Insurance
In Denmark, we have a welfare state, which means that most of those who form part of the Danish labor market are entitled to receive cash benefits in case they should lose their jobs. The cash assistance rate is, however, relatively low, and the amount paid is often only large enough to pay exactly for the most basic expenses. By enrolling in an unemployment insurance fund and receiving wage insurance, however, you can make sure that life does not have to be completely acidic and cumbersome in case you lose your job.
What is Payroll Insurance?
Table of Contents
- 1 What is payroll insurance?
- 2 How much does wage insurance consist of?
- 3 Are you not a member of an A-box?
- 4 A-box and payroll insurance is for everyone
- 5 Find the best payroll insurance price
Wage insurance is an additional insurance for the insurance already included in being a member of an unemployment insurance fund. When you are a member of an unemployment fund, you are insured against a fixed monthly subscription, so you are eligible to receive a larger monthly amount in the unfortunate event that you should lose your job by one or the other other reason.
When wage insurance is a supplementary insurance for the general insurance that you receive as a member of an unemployment insurance fund, this means that the wage insurance is an extra amount per person. month, which is paid out with your unemployment benefits if you were to become unemployed. It is also possible with wage insurance for illness.
Be Assured by Incapacity for Work
The insurance also covers incapacity for work – that is, cases where you are unable to work due to illness or the like. However, you cannot get the benefit of your paycheck paid if you cancel yourself if you are not available for the labor market or if you knew that you would be unemployed at the time when you made your paycheck.
Wage insurance is thus an obvious opportunity to safeguard yourself further and ensure that your financial room for maneuver is increased if you at some point have to stand without a job. Payroll insurance is just like the general insurance that takes place through the subscription you pay to your unemployment insurance fund by paying a monthly amount, the size of which depends on how much you want to insure yourself.
How Much Does Wage Insurance Consist of?
It may vary from year to year what the maximum benefit rate for unemployment insurance fund members is, but there is always a maximum amount set by the state, which amount you can receive as a per diem recipient per month. Should you lose your job, your unemployment fund will calculate the amount of unemployment benefit you are entitled to receive.
This calculation will partly depend on it from the maximum amount of unemployment benefit set by the state and partly by your salary level in the last 24 months – ie. the last two years before you lost your job.
You can choose how high the benefit from your wage insurance can be. However, the wage insurance, together with the unemployment benefits you receive, may not exceed 80% of your salary.
It is therefore not possible to secure yourself to such an extent that you can get the same monthly earnings when you are out of jobs that you would get if you were in work. You can pay a maximum of 6 to 6 months per salary. unemployment period and a maximum of 24 months in total spread over periods of unemployment. If you have any doubts about the detailed rules and rates regarding wage insurance, you can contact your unemployment insurance fund, which can guide you.
Not a Member of an A-box?
Since your wage insurance takes place through your unemployment insurance fund, you can of course not get wage insurance if you are not a member of such a. If you are part of the labor market, it is in all cases advisable to enroll in an unemployment insurance fund – even if you are currently in a situation where you feel confident not losing your job. If the accident is out, there is quite a big difference between what amount you can receive if you have been a member of an unemployment insurance fund before you lost your job in relation to if you have not been a member of an unemployment fund .
The difference is more precisely that you, as a member of an unemployment insurance fund, will be entitled to receive unemployment benefits when you are out of work, while those who are not members of an unemployment insurance fund only have the right to receive cash benefits . The cash benefit consists of a relatively low amount, which for most people will just be enough to pay the most basic expenses, while the unemployment benefit can allow more financial room for maneuver. In this way, life does not have to be acidic and cumbersome just because, for some time, you have to end up standing without a job.
A-Box and Payroll Insurance is for Everyone
If you find yourself in a job situation where you feel very safe and secure, this does not mean that it is not a very good idea to join an unemployment insurance fund and also consider wage insurance. Factors that you do not necessarily have, such as illness or different social structures, can cause your job situation to change suddenly and without notice. This applies both to you who are in a highly paid job and to you who receive a monthly salary at the lower end of the scale.
Find the Best Payroll Insurance Price
Are you not yet a member of an A-box, but do you want to feel safe in case you for one reason or another have to lose your job?
If this is the case, you must first enroll in an unemployment insurance fund. In Denmark there are a number of different A-boxes, each of which can offer their members different things at different prices. Some unemployment insurance funds are associated with a union. If you are a member of a trade union , it may therefore be worthwhile to examine first whether you can become a member of an unemployment insurance fund through your union.
It can be quite difficult to find the head and tail in both, which a-box is the right one to choose for you and your situation, and which place will be responsible for your wage insurance. Fortunately, however, help is available. Around the web you can find really good guides, which can help you well on the way, partly to get an overview of what various a-boxes and wage insurance options are and where you find the best price.
Be Sure to Find the One that Matches your Needs
When choosing which box you want to use and where you want to pay, it is a good idea to remember that the lowest price is not necessarily the best for you. The different A-boxes can offer their members different things, and it will therefore also depend on your specific needs, which choice is right for you.ash credit