Glossary

It's important to us to explain the complex topic of the occupational benefit scheme as comprehensibly as possible. However, sometimes we cannot get around using technical terms. In our glossary we explain these technical terms briefly and in a reader-friendly manner.

 

 

Waiting time

A waiting time is a period of time between the occurrence of an insured event and the date on which the insurance company is contracted to commence indemnity payments.

A waiting time is applied in the area of disability pensions and where daily indemnities are paid out by a life insurance company. Waiting times offer the possibility of coordinating the payment of benefits where other insurance institutions are covering the same risk. A waiting time also allows the obligation incumbent on an employer to continue to pay a salary to be taken into account. Waiting time must not be confused with period of non-availability.

Winding-up of a matrimonial relationship

This takes place when a couple separates - be it through divorce or death of one of the spouses - or as a result of changes in a marriage settlement. At the time of separation/change, sharing of the spouses' fortune should be carried out based on the marriage settlement (ordinary settlement by acquest sharing, joint estate or property separation) and any existing marriage contract.