BBVA Allianz Autónomos Sick Leave (ILT) Insurance
Supplement your income when you can't work
- If you can't work because you're sick, had an accident or are hospitalized, you will receive a payment that will help you cover your expenses.
- You will have a pre-established compensation scale so you can know at all times what you will receive.
- You can deduct up to €500 of this insurance on your taxes. That means you can recover up to €150 of your Sick Leave Insurance for Self-Employed Workers.
If you are a company, you can take out this insurance for your employees. A specialized BBVA adviser will help you during the process.
Absolute permanent disabilityCompensation for permanent disability or death in the event of an accident.
Heart attack is one of the most common causes of work-related deaths.
You will know in advance how much you will receive.
We will give you a scale specifying the days of compensation for the type of illness or accident and the coverage amount.
Here is a sample compensation payment:
- Option purchased: MAS, with a daily amount of €60.
- Reason for the cancellation: retinal detachment surgery
- Days of leave specified in the scale: 25 days.
- Amount payable: €60/day x 25 days; you would receive €1,500.
Much more than a temporary disability insurance policy
It also supplements what you get from Social Security.
- If you pay the minimum base, €300 a month; you will get from Social Security: €567.
- And you have to keep making your Social Security payments, so the net amount would be €267.
- With BBVA Allianz Autónomos Sick Leave (ILT) Insurance, for the example above, you would add the payment received from the insurance, giving you €1,500.
Making it easier to cover your expenses as soon as possible
Sick leave insurance (ILT) options
- Temporary disability due to accident or illness: €30 a day.
- Hospitalization due to accident or illness: €30 a day.
- Death due to accident: €30,000.
- Death due to heart attack in a work-related accident: €15,000.
- Total permanent disability due to an accident: €30,000.
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- Temporary disability due to accident or illness: €60 a day.
- Hospitalization due to accident or illness: €60 a day.
- Death due to accident: €60,000.
- Death due to heart attack in a work-related accident: €30,000.
- Total permanent disability due to an accident: €60,000.
- Temporary disability due to accident or illness: €90 a day.
- Hospitalization due to accident or illness: €90 a day.
- Death due to accident: €90,000.
- Death due to heart attack in a work-related accident: €45,000.
- Total permanent disability due to an accident: €90,000.
Remember that you can deduct up to €500 of your insurance in your personal income tax return
In addition to all the advantages offered by the insurance, self-employed workers may also be eligible for tax relief*:
- Up to €500 may be deducted from the health insurance premiums when the self-employed worker pays taxes under a direct estimate scheme, except in Álava, Vizcaya and Guipúzcoa.
- Compensation for Temporary Disability will be classified as a capital gain in Personal Income Tax.
- Compensation for Absolute Permanent Disability will be subject to Personal Income Tax and will be considered as capital gains.
- Compensation for the death of the insured person, in general is subject to Inheritance Tax.
What do we ask of you?
- Freelancers who pay the fee for self-employed workers (RETA) or professional associations.
- Be between 18 and 59 actuarial years of age (59 years and 6 months).
- Persons in the Special Scheme for Self-Employed Workers, or the Special System for Self-Employed Farm Workers (as per Act 18/2007 of 4 July).
- In case of accident there will be no waiting period.
- In case of illness, the agreed coverage will begin 6 months after the Policy is purchased.
- The waiting period may be waived if you bring another similar Temporary Disability policy purchased from BBVA Allianz Seguros or another company.
Remember that the waiting period is the length of time after the policy is purchased before the coverage goes into effect.
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