How important is occupational disability insurance? And for whom?
Occupational disability insurance provides you with financial protection if you are no longer able to carry out your profession for a longer period of time or even permanently due to illness or an accident. It is therefore one of the most important types of insurance.
However, it is important to take out the insurance in good time - i.e. before illnesses, occupational or leisure risks make insurance coverage expensive or impossible.
Disability can affect anyone in employment. The statutory disability insurance is hardly suitable for maintaining the previous standard of living. Private provision is therefore important for anyone who makes a living from their professional work. Disability insurance is particularly important for young people in order to secure their future. Self-employed people and freelancers without a statutory pension entitlement should definitely consider this protection.
How will I be paid out if I become occupationally disabled?
The occupational disability pension is the amount that an occupational disability insurance policy pays out to the insured person each month in the event of a claim - comparable to a state pension. Private occupational disability insurance pays out if the occupational disability is expected to last at least 6 months or has already existed. We pay the full agreed pension from as little as 50% occupational disability.
When is a person unfit for work?
A person is deemed to be incapacitated for work if they are no longer able to carry out their last profession, as it was without health impairment, in whole or in part on a permanent basis as a result of illness, physical injury, or more than age-appropriate loss of strength.
As a further prerequisite for the insurer's obligation to pay benefits, it can be agreed that the insured person does not or cannot carry out any other activity that they are able to carry out due to their training and abilities and which corresponds to their previous position in life.
Who will decide if I am unfit to work?
A doctor will certify whether you are likely to be or have already been unable to work for at least 6 months. He or she will also state the extent to which your ability to carry out your profession is restricted. Depending on the insurer, you will either have a free choice of doctor or you will be assigned a medical assessor. The insurer may regularly request a review of your state of health.
Why do people be considered as unfit for work?
