Trade union members' insurance schemes in leisure time
Welfare issues The fact that Sweden has such a high unionisation rate has made it possible for the trade unions to offer insurance schemes for their members.
The insurer is the Folksam insurance company, which was founded by the Swedish Trade Union Confederation (LO) and the Swedish Cooperative Union (KF) in 1908.
Group life insurance
The most common types of insurance offered by the trade unions are group life insurance, leisure time accident insurance, home insurance and children's insurance. The enrolment rules vary between the unions. In some cases the insurance policy or policies are included in the membership fee (compulsory insurance), while in others they are optional.
Trade union members' insurance schemes are less costly and their conditions are often more favourable than those of corresponding individual insurance policies. For one thing, members are often offered insurance policies without prior medical examinations if they accept the first offer of enrolment. All trade union members regardless of health status are insured.
The principle applying to the social insurance system and collective insurance and pension schemes holds true for trade union insurance schemes too. The larger the group of insurees, the more favourable the conditions.