- 1 Disability Insurance
- 1.1 What to look when taking out disability insurance
- 1.2 What should you protect with a disability insurance?
- 1.3 Disability Insurance: Differences between policyholder and insured person
- 1.4 Disability – Which professions are particularly affected?
Wear with the idea to apply for disability? Allows your health simply no longer exercise your usual job because you suffer from chronic pain? Then read how to take good care of themselves.
Very important: Make no illusions! Most insurance companies build with “guile” in front, to avoid a payment. It rotates these are mostly questions that you might “wrong” understood, but answered to the best of my knowledge and belief have to believe. In the questionnaires, it is really about every detail.
What to look when taking out disability insurance
with questions about Come to stumble?
- Are you studied in the last decade in a hospital, clinic, a rehabilitation or recuperation facilities, advice or been treated?
- Existence or existed in the past five years at your illnesses, health or dysfunctions or disorders of the heart, lung or stomach?
Do you feel even the slightest uncertainty, talk to your doctor – if possible with the one who knows you best.The Consumer Strongly to the questionnaire “embarrassing properly” fill and it is “definitely backing” to bring.
After all, the accuracy of your information is not about then tested quibbling when the contract is concluded, but only when the “loss event” occurs. Experience teaches that it regularly comes to disputes between insurers and customers.
What are the common points of contention?
If an “injured precontractual duty of disclosure” ? This demand arises, for example, when back pain were not mentioned because they were considered at the time the contract is concluded as insignificant.
However, those who repeatedly suffers from back problems and was therefore already treated by a physician, has the obligation to notify his insurer.
There are insured, the escape in excuses: Let them not realized that they had to report these pre-existing conditions. Some justify Also with memory gaps. The Higher Regional Court in Karlsruhe said this again a strict Power Word: An insured person who objectively false answers to the health questions are, has to payments not eligible.
The subject matter was a worker who had only noted on the questionnaire of insurance to have a few days taken an antibiotic in the past decade because of angina. The truth was different: The man was unable to work for several days and suffered other at a thrombosis. This is a deceit against the insurance companies equal.
However, there are also disputes, which are only shooting for laymen to petty issues. But always depends on whether the insurance company pays or not. It may, for. Example, be a question of whether a patient is actually receiving medical treatment, if prescribed by the doctor him rest and him a medical certificate has been issued for a longer period.
What can happen in an emergency?
When the disability occurs, is crucial. Looking back, takes the disability namely only one, if a doctor certifies that it is no more improvement to be expected, which could lead to a restoration of the worker. The date on which the initial illness or disability has occurred, this question is irrelevant.
Who is independent, avoiding controversy with the assurance that when he fulfills his duty to reorganize the operation. An example: A plumber at the 20 fellows are on the payroll, is incapacitated. He is no longer able to pursue his craft. The insurance entrepreneur sees it this way: The insured could instead sit at the computer and edit invoices. For sufficient computer skills of a craftsman who is older than 50, but not necessarily.
What trainees have to pay?
Young people in training should know a ruling by the Federal. Those who wish to insure as a trainee against disability, thus assumes an obligation he has to report to the insurer, which tasks he will perform after training end. For the daily work of apprentices differs substantially from that of the training.
The specific case dealt with a woman who had taken out insurance against disability during her training as a secretary. She suffered as a trainee multiple brain hemorrhages, however, was able to complete their education.
Even after she was able to work – but in a different profession. The insurance took this altered activity as an opportunity to suspend payments. The Supreme Court objected and did not accept the argument of the insurer.
For several years, pension insurance workers receive government disability pension in case of disability. However, it will only be paid in full if an employment of less than three hours is possible.
Can the person still working between 3-6 hours per day, only half the disability pension is paid. Through this regulation, many of occupational disability sufferers can their standard of living in this case no longer be maintained, sometimes credit rates can no longer be operated. Freelancers and independent contractors, who are not insured in the public pension system, even receive no benefits. They are threatened with financial ruin in the event of disability.
The only possibility is, therefore, the conclusion of a private disability insurance . It provides the insured person with disability an agreed monthly disability pension, with then the livelihood they can support themselves.
The amount of disability pension
The monthly pension amount which is paid by the disability insurance may be agreed between the insured and his insurance company. It should be noted that the disability pension not only has to cover the cost of living, ie for food, clothing and ancillary costs, but also that any borrowing costs can be controlled with it.
It is therefore advisable to agree on the amount of disability pension between 60-80% of the current net income, depending on financial need. Ideally, a list of necessary monthly expenses is made, by which then the amount of disability insurance can be calculated.
Some insurance companies offer next a one-off payment in the event of occupational disability. This money can then, for example, the house or the apartment are disabled rebuilt if necessary, and the payment of expensive treatments or necessary medication in the case of a disease can therefore be financed.
Dynamic balances inflation
When determining the disability pension on the basis of today’s income should not be forgotten that this sum agreed by the prevailing inflation over a period of several years or even decades may no longer be sufficient to cover living expenses. The agreement of a dynamic that may be agreed between 3-5% helps compensate for this inflation loss.
Taking out a disability insurance is possible from the age of 15 in many companies. Since Insured often still visit at this time, the school and have only a low demand for insurance, the sum insured is usually completed low.
To also be adequately insured after entry into working life, at a marriage or the birth of a child, many insurance companies offer the so-called Nachversicherungsgarantie. If they agreed, the disability pension may be increased if desired in the above cases, without having to answer additional health questions.
In the insurance industry is to distinguish between the policyholder and the insured person. As policyholder is the person who enters into the insurance contract, it bears the obligation to pay the insurance premiums. So when insured person is however understood one whose risk is covered by the appropriate insurance, with a disability the person whose capacity is insured to practice.
In most cases, an employee enters into this agreement on disability insurance for yourself, so that the policyholder and the insured person are identical.
If another natural or legal person concluding the insurance contract, is spoken by a contract for the benefit of a third party.
A disability insurance pays if the profession exercised for a period of at least six months can not be exercised. Some contracts contain an abstract reference, according to which the insurance is exempt from the requirement to pay compensation if a similar profession can be exercised. The performance of a disability insurance is effected by the payment of a pension, whose duration is usually limited to the beginning of pension cover.
Said duration of disability is now included in almost all contracts. If this is not defined, applies a statutory period of three years. For this reason, care must be that the six-month period is explicitly mentioned in the insurance policy. Furthermore, is not recommended an offer with the possibility of abstract referral because this clause entitlement to benefits in many cases eliminates, also put some societies the concept of a similar or comparable profession very broadly.
A common case in which, when a disability insurance policy holder and the insured person are not identical is, before, when parents take out such insurance for their children at the beginning of the disability. In these cases, the children take over after the training or after a few years itself the obligations of the policyholder. For this change, the consent of the insurance is necessary, it is issued regularly.
The early conclusion of a disability insurance is recommended, as the contributions for the entire period of insurance from the entry age depends. In addition, there are at a young age usually only a few pre-existing conditions before, this rule result in an increase in the estimate of the insurance premiums.
As part of a disability insurance can protect each activity performed, so that the activity can be insured as a housewife. If a family member has been working as sole breadwinner, this often occurs as the policyholder, while it is the running the household family member of the insured person.
Taking out a disability insurance by the employer is possible, it is mainly for workers in particularly hazardous occupations before. In this case the employer is the policyholder, while it is in each case to the workers at the insured person.
Disability is generally present when a professional is expected to at least 6 months due to health problems not being able to exercise his or exercised another corresponding his abilities profession.
A 2009 study by the German Association of Actuaries commissioned by the magazine FOCUS According to the probability that this case at least once with 65 years enters in the course of working life until the regular retirement, relatively high: In today 20-year-old women it is 38 percent, at today 20-year-old men even 43 percent. In addition, however, the specific job plays a crucial role in assessing how high is the risk of occupational disability, because some groups are more affected than others.
Occupations with high disability risk
According to the Journal map-report, which refers to a statistic the statutory pension on pension additions between 1994 and 2005, is the disability risk among craftsmen and builders such as track farmers, screed and tilers, scaffolders, roofers, pavers or masons up about 67 percent of the highest. In professions such as doctors, physicists, mathematicians, chemists, professors, electrical or mechanical engineering, legal advisor of lawyer and the risk of being unable to work, with 6 to 9 percent as rather more moderate.
Risk groups in the disability insurance
These and similar statistics use private insurance companies to set their rates of contribution and membership requirements for disability insurance. These employed are usually divided into 4 different risk groups depending on their profession. For example, as follows:
Group 1: low occupational risk in highly skilled occupations, where almost only mental and sedentary activities are carried out ( See above and eg architect, ethnicity or business administration, tax consultant, accountant, psychologist)
Group 2: normal occupational hazard for commercial or other professions where mainly sedentary and light physical activities are performed (eg banking and office administrator, administrative and financial officers, programmers, medical practitioner.)
Group 3: increased occupational risk occupations where even strenuous work or work is carried out in a hazardous or stressful working environment (Eg educators, Hairdresser, Customer Service Representative, retailers, construction engineer)
Group 4: . Particularly high occupational risk occupations where almost only physically strenuous activities or activities are performed in a dangerous or stressful working environment (see above and eg Caregiver, baker, professional soldier, electricians, gardeners, painters and finishers, policeman )
Effects of occupational exposure to the contributions and requirements for membership in the disability insurance
The occupational hazard typically rise and contribution rates, so that a disability insurance in some cases, unfortunately, is hardly affordable.
An occupation in one rated as particularly dangerous profession may also lead to an insurance company is only willing to insure the person against a high professional or risk premium. Or is denied insurance altogether.
For example, but can also teachers and artists have trouble getting disability insurance because professionals in such professions often than average suffer from mental illness.
These are in turn according to the latest statistics of the German Pension Fund with 36 percent of the most common reason for retirement Additions. Other common causes that can be an obstacle to insurance fitness trainers or dance teacher sometimes, skeletal and muscular diseases (16 percent) and cardiovascular diseases (10 percent).
However, each insurance provider has its own assessment criteria against which he classifies occupations as more or less dangerous.
Who wants to take out disability insurance, should obtain and compare information possible from multiple vendors in advance therefore. To those who fear the other hand a rejection due to their profession, advises the magazine
Finanztest to simultaneously submit several applications. Thus, you can prevent a rejected application and an associated database entry in the Note and Information System (HIS) of the General Association of German Insurers (also “black list” called) automatically leads to a rejection of an application with another insurance company policy.
Each professionals should remember early to take out disability insurance to be protected in the event of occupational disability.