Qué son seguros de vida colectivos y qué ventajas tienen

ventaja de seguro de vida grupal

Hiring individual life insurance is an option that is increasingly valued by consumers that allows policyholders to offer economic security to their family if something happens to them. However, there are other options to take out life insurance other than privately. This is group life insurance , a type of insurance in which several people are insured under the same policy. In this article we will tell you what group life insurance for companies is, what its characteristics are and what advantages it has. 

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What is group life insurance

Un seguro  de vida colectivo  es un tipo de seguro de vida muy ventajoso para organismos y empresas; así como para aquellos empresarios que quieran o deban (en algunos sectores es obligatorio) contratar una póliza de vida a sus empleados. Estos seguros, al estar íntimamente relacionados con el mundo laboral, suelen incluir las coberturas de fallecimiento e invalidez absoluta y permanente (por accidente o enfermedad).

La principal diferencia entre un seguro de vida individual y un seguro de vida colectivo es, evidentemente, que el seguro colectivo cubre a un grupo, mientras que el individual cubre solo a un individuo.

Pero ¿qué ventajas tiene tener un solo seguro para un mismo grupo de personas en vez de un seguro individual para cada una?

⇒Lee esto también: ¿Puede la empresa desgravar las primas que paga por los seguros de los trabajadores?

Características y ventajas de los seguros de vida colectivos

Una de las principales ventajas de contratar un seguro colectivo es que la prima es proporcionalmente más económica que contratado seguros individuales.  De hecho, sus primas pueden suponer un ahorro de hasta el 20%, en comparación con la contratación de seguros individuales.

Otra ventaja muy valorada por los contratantes de seguros de vida colectivos es que no hacen falta revisiones médicas, sino que basta con rellenar un cuestionario sobre salud y economía del asegurado.

In addition, an inherent characteristic of group life insurance is that a general expiration date is established for the members of the group (which is usually between 65 and 70 years of age). This is established regardless of the age of each member at the time of contracting the insurance. This is a feature that is considered very interesting.

Some insurers also offer some complementary coverage. Among them, the following stand out:

  • additional capital for accidental death
  • total and permanent disability due to accident
  • death due to work accident
  • death due to traffic accident

In any case, this is something that depends on each company and what the insurer wishes to hire.

Another advantage of these insurances is that they can be contracted to insure a wide variety of groups. This is the case of associations, sports clubs, professional associations, state personnel and even debtors; to name a few.

⇒Read this too : What coverages are included and what are excluded by accident insurance?

Taxation of group life insurance for companies

Payment of premiums

Companies or employers that have contracted group life insurance for their workers can deduct the payment of the premiums. In this case, the premium is charged to the worker as payment in kind.

In order for the company to deduct the payment of group insurance premiums, the insurance policy must state that it implements pension commitments when the benefits are assimilable to those of a pension plan. On the other hand, the voluntary contributions of workers not linked to the pension commitment with the company cannot be instrumented in the insurance contract formalized by the company.

In addition, for the company to be able to deduct the payment of premiums, two more conditions must be met.

  • There must be a transfer of the rights of the policyholder to the insured (employee as beneficiary) of benefits for survival, rescue and the designation of beneficiaries in the event of death
  • the payment of collective life insurance must be mandatory by collective agreement.

Consideration of income from work

As group company insurance is an alternative system to pension plans, the contributions will be considered as full earnings from work paid in kind and the remuneration will not be deductible from the insured’s income tax base. In this sense, one of these two assumptions can occur:

  1. That the company deducts the contribution and the insured employee pays for it in his personal income tax, with the corresponding transfer of rights.
  2. That the company does not deduct the contribution. Therefore, there will be no tax imputation, regardless of whether or not there is a transfer of rights.

Benefits

The payment of death benefits will be taxed by the ISD and not by the IRPF (which is how, for example, pension plans or insured pension plans are taxed ).

As for the benefits that are not a consequence of the death of the insured (in this case, the worker), these are included in the taxable base of the insured/beneficiary as full income from personal income tax work. In these circumstances two cases can occur.

  1. When the insured (the worker) has already paid taxes on the contributions, upon receiving the benefit he will pay taxes on the difference between the capital received and the premiums paid.
  2. When the insured (the worker) does not pay taxes until the moment of receiving the benefit, then he will pay taxes for all the benefits when receiving said benefit.

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At PuntoSeguro.com we help you with your policies

PuntoSeguro is a digital insurance broker. We are insurance brokers, so we can help you find the company and the policy that best suits your needs. And if you have any problem with your insurance during your contractual relationship with the insurer, we help you manage it. All this at no additional cost to you.

Therefore, if you take out any insurance through PuntoSeguro you will only have to worry about the price of the policy. If you need more information to contract insurance or need any additional clarification, do not hesitate to contact us.

In addition, in the  PuntoSeguro group life insurance comparator for companies  you can compare the prices and conditions of the best life policies on the market. And just by taking out a life policy at PuntoSeguro you will participate in the #RetoPuntoSeguro, an exclusive challenge that we propose to company employees so that they are rewarded when they exercise. Through the PuntoSeguro Fit App The physical activity of each user is rewarded through individual and collective challenges. The person in charge of the company will have access to a control panel of the collective policy in which he can digitally manage any modification, as well as access the exercise data of the workers, ranking and chat. Life at work improves for the better with PuntoSeguro Fit.

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About Eva María Rodríguez

Redactora web y creadora de contenidos digitales especializada en seguros y finanzas, así como en deporte y vida saludable. Colabora con PuntoSeguro desde 2014.
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4 Responses to Qué son seguros de vida colectivos y qué ventajas tienen

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