A disability insurance (online comparison) is generally recommended to each working person and should be considered already in the early state of the working life as a part of coverage of any financial risk.
An increasing number of workers claim the disability insurance for themselves. According to the latest statistics in particular mental diseases are the cause of inability to work. Therefore the risk is spread over all kinds of occupational groups and in any line of business present. A forecast over the later professional situation can hardly be met. Thus making provision is recommended, particularly as a state aid is not given to any working person born later than 1961.
Who does not want to lower his usual standard of living should protect himself with the insurance from financial losses which goes hand in hand with the disability.
The sooner one enters into the insurance contract the lower are the premiums and therefore is able to save a lot of money. In addition, the criteria of the mandatory health examination are easier to fullfill in younger age shortly after the professional training. Later, already an insignificant medical condition like an allergy could cause difficulties to sign a disability insurance or even make it impossible to receive a policy. The insurance companies are certainly eager to keep the risk for their own funds as small as possible and to limit the potenial claims to a minimum. Therefore young and healthy insurants are usually preferentially accepted and/or must pay smaller contributions.
If you search for a suitable disability insurance, consider the following points:
Determine your needs. The pension height should not be calculated too scarcly. Rule of thumb: 75 per cent of the net income. The agreement of dynamics is reasonable with rising income.
Supplementary insurance. The contract should include the option to adapt the insurance coverage at certain events (such as marriage, divorce, birth of a child) without new health examination.
Duration. It is recommended to sign the disability insurance until the regular age of retirement. Otherwise arises later, in case of receiving benefits of the insurance, upply deficit.
Also pay attention to gross contribution. The net contribution (including surpluses) is guaranteed only for one year. The insurer can increase it up to the tariff contribution.
Not the price decides. An insurance policy with fair and clear clauses values more than saving money at the beginning of a insurance cover. Only in case of similar offers should the decision be made on the price.
Give exact answers. The questions in the contract related to the mdeical condition should be answered accuratly and honestly. The insurance will not pay in case of violation of the disclosure.
Occupational group classification. Customers should examine whether they can be classified due to their individual job description under a more favorable occupational group.
Try again. If the request is rejected, one should try to receive a policy from another company. A possible premium loading for substandard risks is negotiable.
Check alternatives. Who does not get a disability coverage should rely on a slimmer variants such as incapacity insurance or dread-disease-policies.
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