Income protection insurance of AG

Insurance that gives you peace of mind

As a self-employed person, you could find yourself without income from one day to the next if you suddenly become unable to work due to an illness or accident. The money you get from your mutual health insurer – to which you’re entitled from the eighth day of being unable to work – is often not enough to maintain your standard of living.

So additional protection may be useful. You can arrange this without taking out another policy, simply by adding cover to your chosen pension plan, such as:

• the PLCI, which is a branch 21 personal pension plan for self-employed individuals, whether or not they’re running a company
• the CPTI, which is a branch 21 pension plan for self-employed individuals who don’t run a company
• the EIP, which is a branch 21 or 23 insurance-based company pension plan for self-employed people who run companies

Additional income if you’re unable to work

With the “income” option, you receive a monthly replacement income in addition to the statutory benefit paid by your mutual health insurer. Cover starts from the end of the qualifying period or the minimum waiting period you selected. Thanks to this supplementary income, you maintain a comfortable standard of living.

Reimbursement of pension premiums

If you choose the “premium” option, AG will reimburse you, while you’re unable to work, for premiums paid into your insurance-based pension plan. This includes premiums for your add-on cover, as well as taxes. You can thus continue to save for your pension while remaining well insured.

Qualifying period

For the replacement income, you can choose a qualifying period of 1, 2, 3, 6 or 12 months, depending on your personal financial reserves. During this period, no income is paid.

Minimum waiting period of 30 or 60 days

You can opt to receive an income from the first day you’re unable to work, or after a minimum waiting period of 30 or 60 days. During this period, no income is paid. After that, you’ll receive payments for the entire period during which you’re unable to work.

Level income

You can opt for a constant level of income throughout the period during which you’re unable to work.

Rising income 

The second option involves income that increases each year by 2% or 3% during the period when you’re unable to work.

Rising income for the entire term of the policy

Finally, you can opt for an income that increases each year by 2% or 3% for the entire term of your policy. This option is not possible via the CPTI.

More information

• Both the monthly income and the reimbursement of premiums are proportional to the degree to which you’re unable to work.
• The income protection premium cannot exceed 70% of the total premium of your insurance-based pension plan.
• When your insurance-based pension plan ends, the supplementary income protection cover also ends automatically.

Taxation

• The replacement income is taxable.
• A tax of 9.25% applies to premium payments relating to the income protection cover.
• The premiums are deductible as business expenses.

Want to know more?

Please read the standard terms and conditions and information sheet of our insurance-based pension plans before taking out cover:

• Standard terms and conditions EIP Branch 21
• Standard terms and conditions EIP Branch 23
• Information sheet EIP Branch 21
• Information sheet EIP Branch 23
• Standard terms and conditions PLCI
• Information sheet PLCI
• Standard terms and conditions CPTI
• Information sheet CPTI

Any concerns?

If you have a complaint, you can contact us at BNP Paribas Fortis SA, Complaints Department JQABD, Montagne du Parc 3, 1000 Brussels, tel. 02 228 72 18, gestiondesplaintes@bnpparibasfortis.com

or via www.bnpparibasfortis.be > Suggestions or complaints > online complaint form.

If you’re not happy with the proposed solution, you can send your complaint by post to the Insurance Ombudsman, Square de Meeûs 35, 1000 Brussels, BCE: 884.072.054, tel: 02 547 58 71, info@ombudsman-insurance.be  - www.ombudsman-insurance.be.

Legal information

Supplementary income protection cover is an optional add-on and runs for the term of the insurance policy to which it is added. 

The PLCI supplementary pension plan for self-employed individuals is a Belgian-law branch 21 life insurance policy from AG, distributed by BNP Paribas Fortis. The policy is taken out for an agreed period.

The CPTI pension plan for self-employed individuals is a Belgian-law branch 21 insurance-based pension plan from AG, distributed by BNP Paribas Fortis.

The EIP company pension plan is a Belgian-law branch 21 or 23 insurance product from AG, distributed by BNP Paribas Fortis. The policy is taken out for an agreed period.

AG Insurance SA/nv – 53 Boulevard Emile Jacqmain, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0404.494.849 – www.aginsurance.be - info@aginsurance.be. Accredited insurance company licenced under code number 0079, under the supervision of the National Bank of Belgium, 14 Boulevard de Berlaimont, B-1000 Brussels.

Intermediary: BNP Paribas Fortis SA/nv – 3 Montagne du Parc, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0403.199.702, registered with the FSMA, 12-14 Rue du Congrès, B-1000 Brussels, under code number 025879 and acting as a contractually appointed insurance agent on behalf of AG Insurance SA/nv. BNP Paribas Fortis SA/nv holds a stake of more than 10% in AG Insurance SA/nv.