A provident insurance policy is a financial protection mechanism designed to protect individuals and their loved ones against life’s uncertainties, such as illness, accident, or death, by providing compensation for loss of income. Policies are taken out on an individual or group basis with an insurance company, depending on the age, personal situation, and professional status of the policyholder. Coverage generally includes temporary disability, permanent disability, total and irreversible loss of autonomy (PTIA), and death. The cost of the policy varies depending on the profile of the insured and the coverage selected.

What is provident insurance?

It is designed to supplement the benefits paid by the compulsory social security system in the event of sick leave or disability, or to guarantee financial security for beneficiaries in the event of death.

Main coverage

• Temporary incapacity for work (ITT): Compensation for loss of income during a period of sick leave.

• Disability: Payment of additional income if the insured person is unable to continue working.

• Total and irreversible loss of autonomy (PTIA): Financial compensation in the event of total disability.

• Death: Payment of a lump sum or annuity to the designated beneficiaries.

How does it work?

The contract provides for regular monthly or annual contributions, allowing the insured to receive benefits when one of the covered risks occurs.

Who is eligible?

• Employees: possibility of joining a group contract, often set up by the employer and sometimes made compulsory by law or a collective agreement.

• Self-employed workers: it is recommended that they take out individual insurance to supplement their social security coverage.

• Civil servants: it is advisable to consult the relevant authority to find out the specifics of the applicable scheme.

• Preliminary analysis: Assess your income, expenses, assets, family situation, and professional situation to determine your specific needs.

• Defining your needs: Specify the level of coverage you want (lump sum, annuity) and the risks to be covered.

• Compare policies: Examine the scope of coverage, the amount of premiums, waiting periods, and exclusions.

• Professional advice: Seek the expertise of an advisor to obtain transparent information about the risks covered and choose a policy that suits your situation and budget.