The Council of Europe staff life insurance association (APACE) will be holding its annual general meeting on Monday 15 October at 2.30 pm in Room 14 at the Palais.

All staff members are cordially invited to participate at the meeting and to express their opinion.

 

APACE association has been created in 1984 by the agents who wished to subscribe to a whole-life insurance with a group rate. The insurer for the contract is AXA.

The insurance offers the beneficiaries, chosen by the agent, 300 % of the annual salary in case of death or total invalidity. Additional 150 % are paid in case of simultaneous or subsequent death of the insured agent’s spouse or companion.

Those sums are not taxable and are added to the one paid by Council of Europe insurance scheme. Having recently been reduced from 400 % to 200 % for the staff members in charge of a family, the latter alone may not be sufficient to prevent significant changes of the beneficiaries’ quality of life.

The contract formalities are simplified as the insurance premium – which is 1.2 % of the salary – is automatically deducted from the wages by the Division of finance and is visible on the payrolls.

More details can be found on the Amicale site: http://www.amicale-coe.eu/en/49-apace/.