WHAT IS SALARY INSURANCE?
Salary insurance, wage insurance or simply just "lønsikring"?
Some people call it salary insurance, others call it wage insurance – it’s the same, so we call it both. Salary insurance and wage insurance are equivalent to what’s called lønsikring in Danish.
Salary insurance provides financial support if you lose your job. If eligible, it supplements your unemployment benefit, covering up to 90% of your previous income for better financial security.
FTFa's salary insurance
Sign up for FTFa salary insurance now and get your first month free. With our salary insurance, you receive:
- An additional payout on top of your unemployment benefits (for up to 12 months).
- Coverage up to 90% of your current salary (up to an extra 40,000 DKK per month).
- Flexible coverage tailored to your needs.
- An insurance plan you can deduct from your taxes.
- Right now, enjoy the first month free when you sign up for your wage insurance.
Financial security and coverage for up to 36 months
If you lose your job, salary insurance provides you with greater financial security. It gives you a safety net to fall back on. You can receive coverage for up to 36 months, with a maximum of 12 months per unemployment period.
40,000 DKK extra and 90% salary coverage
You can receive up to 40,000 DKK per month in addition to your unemployment benefits if you are a member of FTFa and eligible for unemployment benefits. With salary insurance and unemployment benefits, you can have up to 90% of your current salary...
Security when you need it
With FTFa's salary insurance, you’re covered if you become unemployed involuntarily, if you're self-employed and your business goes bankrupt, or if you lose your job due to illness or accident.
GET AN OVERVIEW OF YOUR SALARY INSURANCE
You have an overview of your salary insurance on My Salary Insurance. Here you can:
1. Take a look at your salary insurance
2. Make changes to your salary insurance
3. Cancel your salary insurance
Log on to my salary insurance
WHAT IS SALARY INSURANCE?
Salary insurance ensures that if you become unemployed, you still receive a substantial part of your previous earnings. For example, while your a-kasse provides you with unemployment benefits, salary insurance helps to fill the gap between your regular salary and the amount of unemployment benefits. This means that if you meet the income requirements, you can obtain financial support alongside your unemployment benefits through salary insurance, which will top up your income to be almost the same as it was while you were working. You can have up to 90% of your wages covered, giving you greater financial security.
How much does salary insurance cost?
The cost of your salary insurance depends on your current income and the monthly coverage amount you choose. It’s based on what you earn now and how much you want to pay into your insurance each month. You can use a salary insurance calculator to find out which insurance plan and price best suit your needs. We calculate your insurance based on the information you provide. With salary insurance, you gain peace of mind and financial security.
The cost of your insurance depends on how much of your salary you want the coverage to cover. You can always choose a lower coverage amount if you prefer. For example, you can purchase salary insurance from FTFa starting at just 79 DKK per month. Check your salary level and see what salary insurance will cost you, as well as what you could receive in benefits and rates.
Does salary insurance cover illness?
With FTFa's salary insurance, you are covered not only in the event of unemployment but also in case of illness, subject to specific insurance terms and conditions. This provides you with additional security, ensuring that you will continue to receive an income even if you are unable to work due to illness.
Salary insurance payouts
Payouts from your salary insurance follow standard payment periods. You can review the timeline by visiting the available overview.
It's important to note that the first 30 days are considered a self-risk period. For example, if you register as unemployed on January 1st, the time between January 1st and January 31st will be the self-risk period. Since insurance benefits are paid in arrears, the benefits for the period from February 1st to February 28th will be paid out on March 1st.
Sign up for salary insurance with FTFa
Secure greater financial peace of mind by signing up for salary insurance today. The process is straightforward. Simply fill out the form using the link above and agree to the terms and conditions. However, there are a few requirements you must meet to sign up for salary insurance.
You must:
- Be an active member of FTFa.
- Be between 18 and 60 years old (note that the insurance ends at the end of the month in which you turn 65).
- Have a Danish CPR number and a permanent registered address in Denmark (this does not apply to Greenland or the Faroe Islands).
- Not be in an unemployment period.
- Not have knowledge of upcoming unemployment.
- Have been employed full-time as a salaried worker in Denmark (except Greenland and the Faroe Islands) for at least six months. During this employment period, you must have received a salary for at least 80 hours per month. It is important that you were not employed as a temporary worker or in a flex job during this time.
- Alternatively, you can be self-employed in Denmark with your business as your primary occupation.
We calculate your salary insurance based on the information you provide. Salary insurance offers you peace of mind and financial security.
The cost of your salary insurance depends on how much of your salary you want the insurance to cover. You can always opt for a lower coverage amount. For example, FTFa offers salary insurance starting at just 79 DKK per month. Find your salary level and see how much salary insurance would cost you, as well as what you could receive under the premium and rates for FTFa's salary insurance.
TRY OUR SALARY INSURANCE CALCULATOR
To qualify for salary insurance, you must meet the requirements set by the insurance terms. With FTFa's salary insurance, you can secure your finances if you lose your job. If you become unemployed and take a new job with reduced hours, you might be eligible for additional salary insurance. The insurance also covers cases of incapacity to work.
Try our salary insurance calculator. It will help you determine how much you could receive with salary insurance.
The text on our calculator-site is Danish.
You can receive FTFa Salary Insurance from DKK 79 per month, which will give you coverage of DKK 2,000. Depending on your current salary, you can take out coverage for up to DKK 40,000 a month, which costs DKK 1,578 a month.
For example, it costs DKK 395 before tax deduction to obtain coverage of DKK 10,000 per month.
You can calculate your preferred level of coverage here.
No, you cannot. To access our salary insurance, you must be a member of an a-kasse, specifically FTFa in this case. Salary insurance provides additional protection that complements the unemployment benefits you receive from your a-kasse if you become unemployed. While your a-kasse covers your benefits, it may not always be enough to replace your previous salary. Our salary insurance helps you retain a larger portion of your income, allowing you to maintain your standard of living while you search for a new job.
The premium for FTFa Salary Insurance is billed quarterly. Payment can only be made via Betalingsservice (the Automatic Payment Service).
The premium can be changed during the insurance period at written notice of the current month + 30 days.
In addition to the premium, you must also pay 1.1% in non-life insurance tax. Non-life insurance tax is a tax that we collect for the state.
Yes. The premium is fully tax-deductible, just like your unemployment insurance membership fee. The payments from FTFa Salary Insurance are taxable ‘A’ income – however, no labour market contribution must be paid.
A-kasse provides your basic financial security if you lose your job. However, to avoid a significant drop in income, it can be beneficial to supplement this with wage insurance. Salary insurance offers additional financial support on top of the unemployment benefits you receive from your a-kasse. This is particularly important if you have a higher income that you want to protect during a period of unemployment.
To qualify for salary insurance, you must first be eligible for unemployment benefits from your a-kasse. Therefore, being a member of an a-kasse, specifically FTFa in this case, is a requirement to access salary insurance. Salary insurance and a-kasse are closely linked, as salary insurance is only paid out as a supplement to your unemployment benefits if you lose your job.
Together, the a-kasse and salary insurance provide stronger financial security if you find yourself without work. This combination allows you to focus on finding your next job without the worry of significant income loss.
CAN MY SENIORITY BE TRANSFERRED?
If you already have a similar insurance policy with another provider, your previous seniority can be transferred to your FTFa salary insurance. This means that the 9-month qualification period may either be reduced or completely waived. However, it’s important that you sign up for salary insurance with FTFa immediately after your previous policy ends.
Your seniority will only be transferred for the portion of the insurance that matches the previous monthly payout and payment period. It is your responsibility to request the transfer of your seniority, and you must also provide any necessary documents that FTFa may require.
Become a member of FTFa
By joining FTFa, you’ll benefit from one of the most affordable unemployment benefit fund/a-kasser on the market. We have extensive knowledge of various industries, positions, and professions, which means we can provide expert advice tailored to your specific field. This is partly because our a-kasse has a longstanding and close partnership with 54 professional organizations.