Scala Keyman key person insurance

Scala Keyman key person insurance

As a senior company executive, you naturally play a key role in your company. If, is the result of illness or an accident, you are unable to run your company any longer, this will also have an impact on the performance and income of the business, whereas the bills will keep on coming in. At times such as these, a Scala Keyman business policy will ensure the stability of your company.

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Protect the stability of your business

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Ensure the financial stability of your company as a key executive

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Make sure that the fixed overheads of your business continue to be covered: car, computer, telephone, staff, etc.

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Financial continuity if you or another key person should be (temporarily) unable to work

Objective

This product enables the company to protect itself against the financial consequences of the death and/or work disability of its self-employed company manager.

Who is it for?

This product is intended for companies for which the financial consequences of losing the company manager as the work of work disability or death are so great that their continued existence would be jeopardised. 

Who is it not for?

This product is not suitable for building up a pension. 

Benefits

  • Your fixed overheads continue to be covered:

If you or another key executive is unable to work as the result of illness, accident or death, this insurance policy will ensure that the financial continuity of your company is guaranteed. The premiums are paid by the company and are tax-deductible.

Your company is the beneficiary of any outpayments.

  • Optional covers possible
     
  • For work disability:
    • Payment of an additional benefit in the event of work disability caused by illness or accident
    • Exemption from premium payments while retaining the guarantees of the Scala Keyman insurance
    • Outpayment of a fixed amount in the event of total or permanent work disability caused by an accident
       
  • For death:
    • Outpayment of a fixed amount in the event of death; you can also link this to the settlement of a loan (cash loan, mortgage, etc.)
    • Outpayment of a fixed amount in the event of death caused by an accident

Tax matters

Taxes on premiums

Death premium

A tax of 4.40% applies.
Tax benefit: deductible for the company

Work disability premium

A tax of 9.25% applies
Tax benefit: deductible for the company

Outpayment for death

This payment is a taxable income for the company and is subject to corporation tax (25% from 2020 financial year)
 

Fees and premiums

Premiums

Minimum: 1,500 euro per year or 1,000 euro per year if combined with another Scala policy (excluding VAPZ Scala Free Pension).

Fees

Joining fees:

  • Reserve/death: 2%
  • Risk cover: 2%

Management fees:

  • Reserve: 0.05%
  • Death capital: 0% to 15%

Commission for intermediary:

  • On the death premium: 0% to 5%
  • On the risk premiums: 0% to 15%

Read full details in the financial information sheet

 Product sheet Scala Keyman (607.17 KB)

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Important documents

Before you take out this insurance, you need to go through the information below.

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Product sheet Scala Keyman

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General terms and conditions Scala

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Branch 21 management regulations

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Branch 23 management regulations Scala

Legal information

  • Scala Keyman is a Key Person insurance policy.
  • Belgian law applies to this product.
  • Term: You are free to choose the term of your policy with a minimum of 5 years.
  • This insurance product may only be taken out by Belgian companies and by Belgian subsidiaries or branches of foreign parent trading companies. The insurance agreement may only be issued to the name and address of the Belgian office, subsidiary or branch of the trading company and, for branches, only for one or more representatives residing permanently in Belgium. The acceptance of other Belgian legal entities and entities that do not have the form of a trading company is subject to a specific acceptance procedure.
  • Exclusions: in principle, NN Insurance Belgium nv does not provide investment services to US Persons. You will find more information about this in the Scala General Terms and Conditions on our website www.nn.be.

If you have a complaint about your NN policy, please contact NN, Quality Team, 38 Fonsnylaan, 1060 Brussels. Send an e-mail in the first instance to klachten@nn.be. Or contact the Consumer Ombudsman Service at the Insurance Ombudsman, 35 de Meeûssquare, 1000 Brussels. Tel: +32(0)2 547 58 71, fax: +32(0)2 547 59 75, info@ombudsman.as, www.ombudsman.as. It is also possible at all times to take legal action.

Your unique life deserves a personal approach. That is why we are happy to help you find an independent broker in your area