Occupational disability insurance: Important for financial security

Occupational disability insurance: Important for financial security

Occupational disability insurance is very important for people who are financially dependent solely on their income. Regardless of age, anyone can be affected by serious illnesses or accidents that can lead to occupational disability. It is important to note that occupational disability is not the same as incapacity to work, as it has a lasting impact on the ability to perform the job.

The decision to take out occupational disability insurance requires thorough advice as the market is confusing. The consumer advice center emphasizes the importance of comparing the different offers in order to take both price and content aspects into account. It is important to note that some portals are registered as insurance intermediaries and could therefore only display certain providers in order to receive a commission.

Good occupational disability insurance should meet certain criteria, including the payment of a pension if the insured person can no longer perform at least 50 percent of their previous job. It should also be taken into account that the money will be paid retroactively if the notification of occupational disability is made late. The contract should be valid worldwide and the insurance company may not terminate the contract or increase the premiums if the insured person had a pre-existing condition without their knowledge.

It is recommended to take out occupational disability insurance early on, as the premiums are cheaper and health status and occupational risks play a smaller role. This means that protection is maintained even during later changes in life. In contrast, people who already have health problems at an advanced age must expect higher contributions. It is therefore advisable to take out insurance early on in order to be financially secure in the event of occupational disability.