A valuable option for you
Life insurance, health insurance and wage protection
Is FLM right for me?
FLM is a trade union of managers and experts, and its goal is to strengthen the position of members in the general labor market and contribute to their income security.
The FLM is suitable for non-union members, or prefer to stand outside traditional unions. FLM is an independent trade union.
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80% of the salaryFor up to nine months after the three-month waiting period for benefits
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Children of membersWage benefits for up to six months in the case of children’s illnesses and accidents
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100%Complete life insurance for members
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Critical Health insuranceFor members and their children
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Illness insuranceDisability allowance for members
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0.05% of salaryThe membership fee is only 0.05% of the salary
The role of the health fund
A valuable option for you
The role of the FLM health fund is to provide members with income compensation in cases of illness and accidents. The union compensates for the loss of income that occurs between the end of the members’ sick leave from their employer, and the start of the disability benefits from their pension fund. This period can last up to nine months and in some cases even longer. During this time, Tryggingastofnun pays the affected employee only 40,000 ISK a month. The fund also pays death benefits in accordance with the terms of life insurance as well as benefits from the critical health insurance and sickness insurance.
Salary compensation
FLM pays compensation in case of accidents or illnesses
The salary insurance of the FLM health fund pays compensation in case of accidents or illnesses, which amounts up to 80% of the average annual salary for up to nine months.
These benefits won’t be paid until three months (90 days) have passed since the event that led to the member’s incapability to work. In other words, the incapability to work must have lasted for 90 days consecutively before the benefits are paid.
Salary benefits are also paid for up to six months in case of injured or sick children.
The maximum monthly compensation is 4,033.000 ISK.
The payment of these salary benefits are limited to a maximum of 24 months over a ten year period for each member.
“I didn’t belong to a union, but I didn’t feel good about not being covered in case I got ill. I chose FLM as I hadn’t chosen a union and couldn’t decide which union I wanted to join, or if I should join a union at all, but I wanted to get insured as soon as possible”.
Ingibjörg Edda Snorradóttir
-Software Specialist at Advania
I think the most important thing is to have good health- and life insurance, and that's exactly what FLM provides for only 0.05% of my salary. Since FLM is an independent trade union, it is very suitable for me.
Benedikt Sigurðsson
-Specialist at Deloitte
Death Benefits
There is no need to carry out a separate risk assessment for the health fund’s life insurance.
The amount of death benefits depends on the member’s age and salary, but has a maximum of 20,164.000 ISK, and a minimum of 1,411.000 ISK. There is no need to carry out a separate risk assessment for the health fund’s life insurance.
To qualify for these benefits a minimum contribution of 12.000 ISK must have been paid to the FLM health fund in the last 12 months before the member’s passing.
Illness benefits
There is no need to carry out a separate risk assessment for the health fund’s sickness insurance.
The amount of illness benefits depends on the member’s age and salary at any given time, but has a maximum of 12,337.000 ISK, and a minimum of 863.000 ISK. There is no need to carry out a separate risk assessment for the health fund’s illness insurance.
Disability benefits due to illness
There is no need to carry out a separate risk assessment for the health fund’s sickness insurance.
The amount of Disability Benefits depends on the member’s age and salary at any given time, but has a maximum of 1,985.000 ISK, and a minimum of 1,039.000 ISK. There is no need to carry out a separate risk assessment for the health fund’s sickness insurance.
It should be pointed out that if a member has received benefits from FLM’s sickness insurance for the same illness, or is entitled to these, the benefits from the sickness insurance shall be reduced by half of the benefits received from the sickness insurance.
Membership of the association
Apply here
Becoming a member is a low-cost option. FLM members pay a monthly fee of 0,05% of their salary, and employers pay a 1% health fund fee.
Apply for membership