Badent & Klemm Consulting – Your independent insurance broker for the whole family
Occupational disability
insurance
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The significance of occupational disability is often underestimated, even though statistics show that roughly one in four employees in Germany is affected by it at some point in their career. Your ability to work is a valuable asset that must be protected. Since state protection in this area is limited, those with statutory pension insurance can only expect minimal benefits in the event of occupational disability. Private occupational disability insurance offers you the following advantages:
- Financial protection in case of occupational disability
- Support in maintaining your current standard of living
- Coverage of medical costs related to occupational disability
- Assistance with reintegration into the workforce
- Avoiding financial losses due to the loss of income
- Individual customization options for the insurance to suit your personal needs and risks
- Supplement to the statutory pension insurance
Why should you seek our advice?
- You benefit from individual and independent advice that is specifically tailored to your personal needs.
- We will provide you with non-binding offers so that you can compare different options.
- Your insurance coverage will be precisely tailored to your individual situation.
- We offer you affordable conditions, without unnecessary services that are not relevant to you.
- Your data is protected during an anonymized risk assessment and is not stored with the insurance providers.
- Even after you take out the insurance, we're still there for you. We're available for consultations and adjustments should your circumstances change.
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Your contact persons
Subject areas
Subject areas
Choose the right tariff for your private disability insurance.
If you're looking for private disability insurance, there are many things to consider. Important aspects to consider in your decision include:
- The occupational group you belong to and the associated occupational risk.
- The sum insured you should choose to protect your standard of living in the event of occupational disability.
- The services offered by the insurance company.
- The protection that the insurance offers in the case of mental illness.
- The possibility of a subsequent insurance guarantee.
- The conditions for pension and capital payments.
- The amount of the monthly contribution.
The scope of benefits offered by different providers of private disability insurance varies considerably. Therefore, it is important to understand the differences between providers and analyze them carefully. Our insurance and financial advisors at our firm are available to explain all the details of these differences to you.
Frequently Asked Questions (FAQ)
No, accident insurance alone is not sufficient. Accident insurance only covers accidents, not occupational illnesses or disability. Since illnesses are far more likely than accidents to lead to disability, separate disability insurance is crucial.
Why is disability insurance important?
Why is disability insurance important?
It is advisable to take out disability insurance to protect your earning capacity. The statutory disability pension offers only limited protection and is often insufficient to maintain your accustomed standard of living. Private disability insurance can mitigate financial losses in the event of occupational disability.
What aspects should be considered when deciding on the pension amount and duration of an occupational disability insurance policy?
What aspects should be considered when deciding on the pension amount and duration of an occupational disability insurance policy?
It is essential to consider your accustomed standard of living and current expenses when choosing the pension amount. An adequate disability pension should ensure financial security should you become unable to work. To guarantee comprehensive protection, the disability insurance policy should be chosen to extend until your planned retirement date or beyond. It is advisable to consider your individual circumstances and personal needs when determining the pension amount and duration.
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What pension amount is recommended when taking out disability insurance?
What pension amount is recommended when taking out disability insurance?
Determining the amount of your disability pension is your own responsibility. To maintain your current standard of living even in the event of disability, we recommend insuring approximately 80 percent of your current net income as a guideline. As a lawyer, I would like to help you find the optimal coverage for your needs.
With disability insurance, a distinction is made between the policy term and the benefit period. The policy term defines the timeframe within which disability must occur, while the benefit period determines the duration of the pension payments. To avoid potential gaps in coverage, we recommend specifying both the policy term and the benefit period until retirement age. This way, you can ensure long-term protection.
What factors frequently lead to occupational disability, and are there individualized benefit limitations?
What factors frequently lead to occupational disability, and are there individualized benefit limitations?
Disability insurance is activated when a person is no longer able to work due to illness, injury, or the need for long-term care. Common causes of disability include mental health conditions and musculoskeletal disorders. In some cases, there may be individual exclusions of coverage if there is an increased risk.
Why does it make sense to take out disability insurance?
Why does it make sense to take out disability insurance?
Disability insurance offers a sensible way to protect yourself financially if you become permanently unable to work due to illness or accident. State benefits, such as reduced earning capacity pensions, are often insufficient to maintain your accustomed standard of living. Disability insurance makes it possible to secure your standard of living and reduce financial worries.
How high should the monthly pension be in case of occupational disability?
How high should the monthly pension be in case of occupational disability?
The disability pension is determined based on current income and the insurer's terms and conditions. It is generally recommended to have coverage amounting to approximately 60 to 80 percent of your last gross annual income. With such a pension, it is possible to maintain your accustomed standard of living and also manage financial obligations such as retirement savings, taxes, and health insurance contributions.
The price of disability insurance can be influenced by various factors, including occupation, pre-existing conditions, and potentially hazardous hobbies. Therefore, premiums can vary. For example, a healthy 30-year-old controller taking out disability insurance with a monthly benefit of €2,000 until age 67 might pay around €62 per month. A healthy 25-year-old medical assistant insuring a benefit of €1,000 until age 67 might pay approximately €52 per month. It is advisable to compare different offers to find suitable coverage at a reasonable price.
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