Example of Vanbreda premiums and compensation

Insurance can be obtained for two rates of daily remuneration:  either 348.47 € (MIN) or 483.98 € (MAX).

It is also possible to modulate the daily compensation to 50% or 35%, which leads to different compensation depending on the option selected by the interpreter. The table below attempts to explain the premiums to be paid and the compensation paid when a claim is made. This table was not drawn up by Vanbreda and can only be considered as a guide for interpreters.

The waiting periods are respectively 7 days for accidents and 21 days for illness.

This insurance product should be understood as a tool enabling interpreters to insure themselves against major health problems, which explains why the waiting period is long for illness.  The insurer refuses to cover minor, benign illnesses.

The sum indicated for permanent invalidity will be paid annually.

In case of death, the insured's heirs will receive either 282,260.70€ (MIN) or 392,023.80 (MAX).

   

Option

Modulation

Calculation

Result

Temporary incapacity

Max

50%

483.98 x 75% x 50%

181.49€/day

35%

483.98 x 75% x 35%

127.04€/day

Min

50%

348.47 x 75% x 50%

130.67€/day

35%

348.47 x 75% x 35%

91.47€/day

Permanent invalidity

Max

483.98 x 75% x 30%

39,202€/year

Min

348.47 x 75% x 30%

28,226€/year

Premium 1st year

Max

50%

483.98 x 360 x 1.57%

2,735.45€

35%

483.98 x 360 x 1.37%

2,386.98€

Min

50%

348.47 x 360 x 1.57%

1,969.55€

35%

348.47 x 360 x 1.37%

1,718.65€

Premium 2nd year:

Assumption: 150 days worked 1st year

Max

50%

483.98 x 210 x 1.57%

1,595.68€

35%

483.98 x 210 x 1.37%

1,392.41€

Min

50%

348.47 x 210 x 1.57%

1,150.58€

35%

348.47 x 210 x 1.37%

1,002.54€

As from the 2nd year of insurance, the premium is calculated on the basis of the number of days during which the insured is covered by a compulsory insurance policy in those international institutions that have a compulsory insurance scheme. In principle, all conference interpreters are entitled to subscribe to this policy, but a « true freelance » may wish to determine whether other products are more advantageous.


Recommended citation format:
Edwin GOOSSENS VAEREWYCK. "Example of Vanbreda premiums and compensation". aiic.net March 6, 2006. Accessed September 23, 2019. <http://aiic.net/p/2510>.



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Edwin GOOSSENS VAEREWYCK

   

Dear Colleague,

Indeed civil war is excluded from the insurance cover EXCEPT: during the first 14 days if the interpreter has been surprised by civil war and/or riots.

Therefore, if an interpreter is, unwillingly, prensent on the scene of civil war and/or riots , he will be covered if anything happens during the 14 first days of those events. By implication he should take all possible steps to flee from the scene as soon as possible.

Best regards

Edwin Goossens Vaerewyck insurance group member

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Edwin GOOSSENS VAEREWYCK

   

Dear Sue,

Anything not mentionned is in principle covered. I've just returned from a trip to China and I haven't all the details in memory. This being said...force majeure is rarely covered, terrorist attacks; I have my doubts. I know there are specific insurance products for cases of terror. Sorry for the lateness of my answer but the system needs improving as when a comment is posted, the author of the original text is not notified.

Kind regards

Edwin

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Susan HILTON

   

Dear Edwin, having checked the Masterpolicy Specification posted on the Extranet on 25 Nov 2005 since my first query (sorry, should have done that first!), I note that the exclusions include war and civil war but I am still not clear as to the position in the event of terrorist attacks or force majeure. Any ideas? Susan Hilton

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Susan HILTON

   

Edwin, I would be interested to know whether cover is restricted or refused in the event of terrorist attacks, acts of God, etc. If the policy details are available online, could you post a link so that it is possible to check? Thanks, Susan

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