Loss of earning capacity

You may want to consider whether it makes more sense to have your Loss of Earning Capacity insurance with us. However, there are several factors to consider before you decide. Call our advisers, and we can look at your options together.

We want to make sure that you have the insurance that is right for you. Therefore, you will only be offered to buy the insurance if it makes sense for you and your finances.  

Among other things, we look at your salary. We do this because your salary is crucial to whether the insurance makes sense. If we can see from your salary that you are well covered with insurance for disability or senior pension, you do not need to buy the insurance for Loss of earning capacity.  

In addition, you must meet an employment requirement. This means that for 24 out of the past 30 months, you must have worked for at least 28 hours a week.  

You will hear from us in mit.dk if you can buy the insurance. 

If I do not want the insurance right now, can I get it later? 
Yes, you can buy the insurance at Loss of earning capacity if you meet the requirements for the insurance.

Among other things, we look at your salary. We do this because you only have to buy the insurance if it makes sense for your finances. In addition, you must meet an employment requirement. This means that 24 out of the past 30 months, you must have worked for at least 28 hours a week.

You will be notified in mit.dk if you can buy the insurance. 

If your salary falls for three months in a row, it is not certain that it will make sense to pay for the insurance. In that case, we will automatically change your coverage so that you instead get insurance for disability and senior pension.

You will be notified in mit.dk if we change your coverage.  

You can receive money from the insurance already after three months after you have been awarded sickness benefit, flex job or public disability or senior pension.

We only offer you the insurance if it makes sense in relation to your salary. This also means that if your salary decreases, it may no longer be beneficial for you to keep the insurance. Instead, you will receive early retirement or senior pension insurance.

You will receive a notification in mit.dk if we change your coverage.

The Loss of Earning Capacity insurance provides better coverage than the early retirement and senior pension insurance. Therefore, it is more expensive. The cost of the insurance is deducted from your savings with us – just like your other insurance policies. This means that your savings will decrease when you purchase the Loss of Earning Capacity insurance – and therefore you will receive a lower pension payout.

You can see how the insurance affects your pension in our calculator.

The money from the insurance is added to what you get from others than us, e.g. the public sector. Your insurance takes up so to speak, so that you will be paid up to 70 percent of your pensionable salary every month, as long as you are awarded public benefits, such as sickness benefits or flex jobs. Supplements that do not entitle you to a pension do not count when we calculate your salary – e.g. weekend allowance and functional allowance.

Read more about the terms in our insurance terms.

Your payment will change if you are awarded a public disability pension or senior pension. Here we look at your income at the time of award from the public sector and others. We then take up to 70 percent of your pensionable salary. The amount from us will then be a fixed amount, and changes in the public benefits or benefits from others will not change the payment from us.

However, we can adjust your payment from us on an ongoing basis. Your total payout may therefore be lower or higher than 70 percent.

Read more about the terms in our insurance terms. 

Yes, if your salary changes, the price of the insurance changes too. And it can go up and down.

The cost of your Loss of earning capacity is calculated as a percentage of your salary. We calculate your salary based on the contributions to your pension we receive from your employer. If the payments change, we therefore also assume that your salary has changed. And this can have an impact on the price of your Loss of earning capacity.

We also adjust the price annually – just like our other insurances.

Read more about the terms in our insurance terms. 

We want to make sure that you have the insurance that is right for you. Therefore, we continuously look at your salary. 

This means that your insurance may change. If we can see from your salary that you are well covered with insurance for disability or senior pension - then we will automatically adjust your insurance. If, on the other hand, you increase your salary again at a later date - we will automatically give you your Loss of earning capacity again.  

You will be notified in mit.dk if we change your coverage.

Your salary is important because the money you receive from the public sector when you are on sick leave will be offset against the money you receive from your insurance in the event of loss of earning capacity. And since you can only insure yourself for 70 percent of your salary, a lower salary may mean that you will not receive anything from the insurance.