First things first – occupational disability insurance is there to protect you should you become unable to work. Having a good policy means protecting your future income and avoiding financial difficulties if you can’t work for any health-related reason.
You are considered occupationally disabled if you are unable to work for 6+ months because of injury, mental health issues, or long-term illness. Occupational disability is more frequent than you might think: According to the Federal Statistical Office, one in four people in Germany becomes unable to work in the course of their working life. The right policy will cover all your main living expenses like housing, insurance, food and family expenses.
Occupational disability insurance is linked to the job you currently have. If you become unable to do your job, it’s not relevant whether you could theoretically do any other work. Your insurance will pay you monthly to replace your income for as long as you can’t work.
Let us help clear up what the most important features to check for are. Good occupational disability insurance includes the following benefits:
This type of insurance is relevant for people in all stages of their careers. The average age a person becomes unable to work in Germany is 47, but illnesses such as burnout or cancer and accidental injuries can affect people of any age. The younger and healthier you are when you take out your insurance policy, the more favourable the terms will be. It can be worthwhile to get covered while you’re still a student!
What your policy entails is personalised to consider your health status, age, occupation, and how much compensation you would like to receive if you need it. The sooner you have an insurance policy, the better your terms and the lower your premium. When you take out an insurance policy with Getsafe, you can decide what constitutes sufficient income and how long your coverage should last.
Occupational disability insurance is one of the most financially beneficial policies you can have to take care of you should the need arise. If you have been paying into a statutory pension for less than thirty years, private insurance will be worthwhile.
Private insurance gives you much better and more flexible coverage than relying on state benefits. State protection in Germany only kicks in if you are unable to do any kind of work for more than three hours per day. It also only provides compensation of up to 40% of your latest gross income.
We are happy to help you find the best insurance cover for you: by providing you with a free rate comparison. The analysis of your insurance situation is free of charge, no strings attached!