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 benefits, 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.
VIEW YOUR SALARY INSURANCE
Log in to view your salary insurance. Here you can:
- View your salary insurance
- Change your coverage
- Cancel your salary insurance
- Use your 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 requirements, you can obtain financial support alongside your unemployment benefits through salary insurance, which can 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 insurance 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 under premium and rates.
Does salary insurance cover illness?
FTFa salary insurance can also cover you if you become involuntarily unemployed due to illness. 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. However, you must meet some additional conditions.
Salary insurance payouts
Payouts from FTFa salary insurance follows the unemployment benefits payment calendar.
Please note that the first 30 calendar days are a self-risk period. This means that if, for ex-ample, you are unemployed from January 1, the period from January 1 to January 30 will be your self-risk period. Since the insurance benefits are paid in arrears, the benefit for the pe-riod from January 31 to February 28 will be payable on March 1.
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 as a permanent employee 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.
Sign up for a salary insurance
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 get a 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 FTFa. Salary in-surance provides additional protection that complements the unemployment benefits you receive from FTFa, if you become unemployed. While the 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 charged quarterly in advance via BS (Direct Debit Service).
The premium may be adjusted during the insurance period with written notice of the current month plus 30 days.
In addition to the premium, you are required to pay 1.1% of the premium as a non-life in-surance tax. The non-life insurance tax is a fee that we collect on behalf of the state.
Yes. The premium is fully tax-deductible, just like your membership fee to FTFa. 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 salary 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.
Can I receive payments from my FTFa salary insurance immediately?
FTFa salary insurance takes effect on the 1st of the month after you sign up. After this, your qualification period begins, which is the first 9 months you hold the insurance.
During the qualification period, you must not be given notice or become aware that you are going to be dismissed. If you are notified or receive a dismissal during the qualification peri-od, you are not entitled to FTFa salary insurance if you are unemployed once your notice pe-riod has expired.
It is also a requirement that you have been in permanent employment for at least the last 12 months prior to becoming unemployed.
You must be involuntarily unemployed and receiving unemployment benefits from FTFa without being subjected to a penalty due to voluntary unemployment.
The first 30 calendar days of unemployment is a self-risk period.
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.