Brussels (Brussels Morning Newspaper) – Carrefour Belgium’s Caddy Protect insurance (€2.90/month) offers €75/month for job loss or disability and €500 for severe disability. Testaankoop warns of issues, a 60-day waiting period, strict eligibility rules, and low payouts.
Carrefour Belgium has a new insurance called “Caddy Protect” that can help people in tough times. It costs just €2.90 a month and is designed to help people if they lose their jobs, get injured in an accident, or can’t work.
If someone loses their job or can’t work because of an accident or illness, they will get €75 a month. If they have a serious disability or can’t take care of themselves, they will get €500. This insurance starts working right away, so people can get help if they need it quickly.
“The insurance offers a supplementary benefit in the event of unemployment, an accident with hospitalisation, incapacity for work or loss of autonomy,”
According to a press release.
Is Belgian insurance with €2.90 fee and a €75 payout effective?
A group called Testaankoop is worried about some insurance policies that look good at first. They mentioned that they have low prices and promise to help people in tough times, but they have a lot of rules and limits that might make them not so helpful when people need them.
They mentioned that One of the problems is that these policies don’t start paying out right away. They have a waiting period of 60 days, which means people don’t get any money for the first 2 months after they lose their job or can’t work. This could be a big problem for people who need help right away.
“At first glance, it seems interesting: low premiums and benefits in the case of situations that could occur,”
Testaankoop responds.
According to Testaankoop, the waiting period makes the insurance less useful because people need help the most in those first 2 months. When someone loses their job or gets sick, they still have to pay for things like their house and food, but they don’t have any money coming in. By the time the insurance starts paying, they might already be in a lot of debt.
Testaankoop says that insurance companies should tell people about the waiting period before they buy the policy. Many people think they will be covered right away, but then they find out they have to wait 2 months. This makes the insurance less helpful and makes people wonder if it does what it says it does.
Testaankoop found more problems with these insurance policies. They have a lot of rules that make them hard to use. For example, you have to have worked for a year straight with a full-time job to get help. This means people with temporary jobs, freelancers, or new workers might not be covered.
They mentioned that if people quit their jobs, they won’t get any money. They have to be fired by their boss. And if people only work part-time because there’s not enough work, the insurance won’t help them either. Many people are working part-time these days.
Testaankoop mentioned that people have to wait 3 months after they buy the policy before they can get any money. And if people need help because they’re in the hospital, they have to be there for at least 3 days, and it has to be because of an accident, not because you’re sick.
They said that most people probably won’t get any money from this part of the insurance. People only get €75 a month if they’re disabled or out of work. That’s not enough to live on, especially if you have a family. Testaankoop is asking if this insurance is really helpful or if it just makes people feel safe when it’s not protecting them.
