Group Provident Insurance
When an employee falls seriously ill, their pay drops and they count on you. Group provident insurance (cover that tops up their income) takes over.
What it covers
Sick leave
An employee is off and Social Security only covers part of it. Provident insurance tops up their pay.
Disability
An employee can no longer work as before. They receive an annuity to keep their standard of living.
Death
An employee dies. Their family receives a lump sum, with help toward funeral costs.
Loss of autonomy (optional)
An employee becomes dependent and needs daily help. A monthly annuity tops up public support.
What it does not cover
- If an employee causes their own time off on purpose, nothing is paid.
- If a known illness was not disclosed at enrollment, it can be excluded.
Who is it for?
You have employees
It is mandatory for your managers and strongly advised for everyone else.
Your industry has a collective agreement
Many agreements set a minimum level you have to meet.
You want to keep your talent
Solid social protection is a real argument to attract and retain people.
Frequently asked questions
Is it mandatory?
Yes for managers. For others it depends on your collective agreement, but a good policy goes beyond the minimum.
How is it different from health insurance?
Health insurance reimburses your medical costs. Provident insurance replaces lost pay during sick leave or disability.
How does it work for taxes?
The share you pay as an employer is deductible, within legal limits. Ask your accountant about your case.
Can I change policy along the way?
Yes, under certain conditions. Lesto handles the whole transition for you.
Ces garanties vont souvent ensemble
Key Person Insurance
If the partner you cannot do without is suddenly gone, the business wobbles. Key Person Insurance pays money to the company so it can absorb the shock.
DirectorsDirectors & Officers (D&O)
A decision you make for your company goes wrong, and people come after your personal money. D&O (insurance for company directors) keeps your assets out of reach.
Your program deserves to be calibrated to your reality.
One conversation is enough to identify your gaps and offer something better.