Voluntary ANW shortfall insurance

What is a voluntary ANW shortfall insurance?

With a voluntary ANW shortfall insurance you insure an amount as an addition to your partner’s income if you die during your employment before the retirement date. Your partner* will receive this addition until he or she reaches the state pension age. If your partner dies before the state pension age, the addition will stop. The premium for this insurance is deducted from your salary each month. You therefore pay this premium yourself.

Please note:
You must take action yourself to activate this insurance. If you do not make a choice, your partner is not insured for the voluntary ANW shortfall insurance. See the section: How to take out a voluntary ANW shortfall insurance?

Situation after your decease with an ANW shortfall insurance

Your partner will then receive the following benefits:

Situation after your decease with an ANW shortfall insurance

Your partner will then receive the following benefits:

Why a voluntary ANW shortfall insurance? 

Pros

• Your partner’s income is supplemented after your decease during your employment.
• The premium you pay is deducted from your salary. You do not pay tax on the premium.
• You can cancel the insurance at any time.

Cons

• You pay the premium yourself, so you have less room for other expenses.
• Your partner pays tax on the benefit (supplement).
• The insurance ends when you leave your employment. 
• Your partner may lose the right to benefits from the government (such as rent and healthcare benefits) when the insurance pays out.

When is voluntary ANW Shortfall insurance suitable?

There are advantages and disadvantages to the insurance of the voluntary ANW shortfall. Whether it suits you depends on what you find important. And your financial situation, now and in the future.

Below you can see in which situations the voluntary ANW shortfall insurance is or is not suitable for you.

What alternatives are there?

You can take out death insurance with an insurer, separate from your employer. You then have more options in terms of amounts to be insured. And you can also choose from multiple providers. 

Please note: take a good look at the premiums including costs and the conditions that are used. A medical evaluation may be required.

How do you take out a voluntary ANW shortfall insurance?

On your participant portal – MijnLifeSight.nl – you can choose the ANW shortfall insurance in the My changes section. This is only possible if your employer has included this as an option in your pension scheme.

If you are cohabiting, you must first provide us with the partner details. You can also do this via the My changes section.

When does your voluntary ANW shortfall insurance automatically end?

If you have taken out ANW shortfall insurance with LifeSight, this insurance will automatically stop in the following situations:

1. We receive a message that you have left your employer; or
2. We receive a message that you no longer have a partner; or
3. Your partner reaches state pension age

In these situations, we will cancel the voluntary insurance because there is no longer any entitlement to a payment under this insurance. Of course you no longer have to pay a premium for this insurance.

How do you cancel a voluntary ANW shortfall insurance yourself?

Do you want to cancel an ANW shortfall insurance taken out with LifeSight? On your participant portal – MijnLifeSight.nl – you can choose to stop the ANW shortfall insurance in the My changes section. You can cancel the insurance at any time. 

Please note: a voluntary ANW shortfall insurance can usually no longer be switched on (taken out) after it has been discontinued. It is only possible to reactivate this insurance if you get a new partner.