Insurope - Network Partner: Company Profile

our Network Partner in Belgium

AG Insurance

With a market share of 22% (as of December 31, 2009), AG Insurance is market leader on the Belgian insurance market. It owes this position to a broad and high-quality product range, an excellent service and its cooperation with a network of independent insurance brokers, Fintro agents and BNP Paribas Fortis agencies.

AG Insurance employs more than 4,000 specialised staff members. Go to www.aginsurance.be for more information.

As leader on the second pillar market, AG Employee Benefits offers tailor-made solutions as regards supplementary pensions and collective health care and disability insurance: company plans, sector wide plans, cafeteria plans and solutions such as Medi-Assistance, HospiCare, IncomeCare, AmbuCare, AG Care, AG Ascento, ...

More than 500,000 employees count on us for their supplementary pension and more than 1,000,000 people for their complementary health care cover.

AG Employee Benefits continues to develop competitive and innovative products and to provide you with a high quality service. In collaboration with Insurope, you can count on our staff for a privileged partnership in the complex field of supplementary pension and health care benefits.

AG Employee Benefits. Trust in Expertise. www.agemployeebenefits.be

local language

Please refer to the AG Insurance website - www.aginsurance.be

typical benefit plan

A. Group Insurance/Pension Plan 1. Defined Benefit Scheme (20 employees):
Eligibility:	Death Benefits: Employees under age 65 (male and female participants) who are actively working at the company, hired for an unlimited period, have six months of service and are at least age 25. Retirement Benefits: Employees age 65, male or female, who are actively working for the company, hired for an unlimited period and are at least age 25. Employees age 25 or over become eligible immediately; i.e., no waiting period.
Pensionable Salary:	13.89 times monthly salary.
Pensionable Service:	Years and months of service from date of entry until retirement age.
Retirement Benefit:	(240% S1 + 840% S2) x n/40 Where: S1 equals pensionable salary limited to legal pension ceiling or ceiling fixed by employer, S2 equals part of the pensionable salary exceeding S1, n equals years and months of pensionable service
Early Retirement Benefit:	Accrued benefits actuarially reduced.
Pre-Retirement Death Benefit:	Married Participants: Three times annual salary (including profit sharing). Others: Lump-sum equal to one or two time annual salary (including profit sharing).
Orphans Pension:	A lump-sum for each child equal to: 50% S/(1+c), c = profit sharing coefficient
Vesting:	Employee's Contract: Immediate Employer's Contract: Immediate
Employee Contribution:	Life: None Retirement: 5% of that part of the annual salary exceeding the ceiling. The balance is paid by the employer.
2. Defined Contribution Scheme (20 employees):
Eligibility:	All employees from the age of 22 on and with one year of service. (The one-year of service is not applicable for employees older than age 25.)
Retirement Age:	65 for males and females.
Pensionable Salary:	13.85 times gross monthly salary.
Pensionable Service:	Years and months of service.
Employers contribution:	Age of participant on January 1 Younger than 30 years old Between 30 and 45 years old Between 45 and 55 years old Older than 55 years old	Premiums 1.24% S1 + 4.95% S2 1.51% S1 + 6% S2 2.71% S1 + 10.8% S2 4% S1 + 16% S2
	in which: S1 = the annual salary, limited to the ceiling that is applied for the calculation of the statutory retirement pension or limited to a contractual ceiling fixed by the employer. S2 = the part of the annual salary in excess of the ceiling. Employees contribution: 1 % S1 + 4 % S2 Payments are made in twelve installments at the end of each month. Taxes on payments are paid by the employer.
B. Group Disability Insurance
Disability Benefit:	Eligibility: All employees who have completed their probation period. After a waiting period of 30 days, a benefit equal to 70% of pensionable salary inclusive of Social Security reimbursements in the event of non-occupational accident or illness (depending on the industry of employment the percentage can vary between 70% and 75%).
Waiver of Premium:	Included after a waiting period of 30 days in the event of illness or accident of any nature.
Employer Contribution:	100%
C. Group Health Insurance 1. Unlimited medical plan (focus on new business)
Eligibility:	All employees hired for an unlimited period, with six months of service who have submitted a signed participation form and are not participating in another plan.
Hospitalization:	Unlimited reimbursement.
Serious Diseases:	Unlimited reimbursement.
Deductible:	EUR 74.37 per insurance year and per insured.
Employer Contribution:	100% for the employees.
Employee Contribution:	100% for dependent cover.
2. Medical plan with limitations (existing contracts)
Eligibility:	All employees hired for an unlimited period with six months of service who have submitted a signed participation form and are not participating in another plan.
Hospitalization:	Unlimited amount or unlimited amount limited to twice the Social Security reimbursement.
Serious Diseases:	Reimbursement limited to EUR 2,478.94
Deductible:	EUR 74.37 per insurance year and per insured.
Employer Contribution:	100% for employees.
Employee Contribution:	100% for dependent cover.