Disability insurance / basic disability insurance
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More information about Disability insurance / basic disability insurance
The disability insurance serves to secure the permanent loss of the worker.
Causes of loss of this ability can be injury or loss of power, but also diseases.
The risk of disability and its consequences should not be underestimated.
A private, financial hedge is therefore particularly valuable. Unlike disability insurance, disability insurance insures that the insured person is no longer able to work for more than three hours a day.
The likelihood that the insured event will occur is therefore much lower than for an occupational disability insurance, with the result that disability insurance offers significantly reduced insurance cover.
As a rule, it is therefore not recommended, as long as the cover would also be possible through occupational disability insurance – this usually applies even if the occupational disability policy contains exclusions.
The benefits of disability insurance lie solely in the lower contributions and in the simplified health issues.
Before signing a disability insurance contract, it is important to examine some aspects that determine the cost and quality of an insurance policy.
In principle, special attention should be paid to how disability is defined in the insurance conditions, because this definition determines which conditions must be met for entitlement to benefits.
In addition, it should be noted that some insurance rates include a waiting period of usually five years. In such a case, the insurance cover is only complete if contributions have been paid for five years. If the insured event occurs before the expiry of the waiting period, the insured person will not receive any benefit, but only the reimbursement of his contributions and the insurance will be canceled.
It is favorable if at least one accident-related incapacity for work is already fully insured from the beginning.
A basic ability insurance is a risk insurance from which the policyholder receives a pension in the event of a new serious physical or mental impairment.
As the name implies, the loss of certain basic skills listed in the terms of insurance is considered an insured event.
The basic disability insurance is in no way suitable as a substitute, if necessary, but as a supplement to a disability insurance, as it provides only basic coverage and no comprehensive worker protection.
If an occupational disability occurs that is not associated with the loss of one of the insured basic skills, the policyholder will not receive any benefits.
The basic disability insurance can provide financial security in the event of severe physical or mental impairment. The benefits from the insurance can, for example, enable treatment methods that are not covered by health insurance.
If the insured needs to be dependent on care, the pension from the basic health insurance, for example, relieves the relatives by facilitating the financing of a care service or a place in a nursing home.
The basic disability insurance can be taken out for both children and adults at an advanced age. However, it must always be borne in mind that the insured person must answer health questions in the case of the new contract, the result of which may have a significant impact on the payable contribution.
Anyone who plans to take out a basic disability insurance should therefore do so at a young age if possible.
When concluding a basic health insurance, the list of insured basic skills should first be examined – the more detailed the list, the broader the coverage.
In addition, the end age of the insurance must be taken into account, as this determines how long the pension will be paid in the event of benefit. Some insurers offer the option of having a lifetime benefit.
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