Life and Accidental Death & Dismemberment
Life Insurance
VMware provides Occupational Group Life (TGL) Insurance for all regular employees through SEB Pension och Försäkring AB.
Benefits
If you are between age 18 and 55 years, the death benefit will be six times the price base amount. From age 55, the death benefit decreases with 0.5 Price Base Amount per year down to 1 Price Base Amount if death occurs between age 64 and 70. However, the full amount will be payable if you have children under the age of 17. An extra child cover of 2 Price Base Amount is paid to children under age 17. For children aged 17 but not 19, 1.5 Price Base Amount is paid and for children aged 19 but not 20, 1 Price Base Amount is paid.
Death Benefit
| Age | Death Benefit |
|---|---|
| 18 to 55 | Six (6) times the price base amount |
| 55 and up | Between 5.5 and 1 times the price base amount depending on age. If you have children under the age of 17, an amount will be paid of six (6) times the price base amount. |
Extra Child Cover
| Child Age | Extra Child Cover |
|---|---|
| Under 17 | Two (2) times the price base amount |
| 17 to 18 | One and a half (1.5) times the price base amount |
| 19 | One (1) times the price base amount |
Enrolment
You are automatically enrolled in the Life Insurance.
Contributions
VMware pays 100% of the premium costs for Life Insurance.
When Coverage Begins
Coverage will begin on your first day of active work as a VMware employee.
When Coverage Ends
Coverage will end on the last day of your employment with VMware.
Supplemental Life Insurance
VMware provides a Supplementary Life Insurance for all regular employees through Länsförsäkringar.
Benefits
A lump sum payment of approximately two times annual On Target Earnings less the TGL Benefit (6 Price Base Amount) rounded up to the nearest Price Base Amount (20, 25, 30, 35, and 40 Price Base Amount). The maximum benefit amount is 40 Price Base Amount . You will receive information from the insurer on exact level of coverage by mail to your registered address.
Enrolment
You are automatically enrolled in the Supplementary Life Insurance plan.
Contributions
VMware pays 100% of the premium costs for Supplementary Life insurance, however, you will pay benefit tax on the paid premium.
When Coverage Begins
Coverage will begin on your first day of active work as a VMware employee.
When Coverage Ends
Coverage will end on the last day of your employment with VMware.
Accidental Death and Dismemberment
VMware provides Accidental Death and Disablement Insurance through AFA (administered by Fora AB) under the Labour Market No-Fault Liability Insurance for Occupational Injuries (TFA insurance).
Eligibility
All regular full and part time employees of VMware are eligible for Accidental Death and Disablement Insurance.
Benefits
Cover is provided for:
- Accidents at work
- Accidents while travelling to and from the work (where the Swedish Motor Traffic Damage Act is not applicable)
- Occupational diseases
Additional benefits can be payable due to
- Loss of income
- Expenses for medical care, medicines etc.
- Pain and suffering
- Compensation for permanent medical complaints
Enrolment
You are automatically enrolled in the Accidental Death and Disablement insurance.
Contributions
VMware pays 100% of the premium costs for the Accidental Death and Disablement insurance.
When Coverage Begins
Coverage will begin on your first day of active work as a VMware employee.
When Coverage Ends
Coverage will end on the last day of your employment with VMware.
Important Notice
This is a summary of the above benefits. The full details and conditions of insured benefits are included in the official documents and if anything in this summary conflicts with those documents, the terms of the official documents shall apply.
The insurance benefits provided by VMware only apply if the employee has been approved by the insurance company. VMware cannot be held liable in those cases or if insurance cover could not be granted.
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Last Updated: 15 Sep 2021, 3:34 PM