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What should you pay attention to?
And you should also note this: insurance against disability is considered a private issue. This means that you can not deduct the costs as operating expenses from the tax because the risk is predominantly in the private life sector.
You can only take this precaution into account as a special precautionary measure in the tax declaration - up to the maximum amount of 1500 Euro annually. In total, only 2.400 Euro can be claimed annually as a precautionary expense.
The amount of your contributions to disability insurance depends on various factors (and, of course, the insurance company).
The following factors also affect the price:
Amount of the desired pension
The amount of the pension that is to be paid in case of disability will determine the amount of your contributions. The more pension you receive, the higher your contributions will be.
This is also important: the younger you are when you take out an insurance policy, the lower is usually your contributions - on the one hand, because you deposit longer, on the other hand, because you usually also have fewer pre-existing conditions ).
- Service and insurance
- Your job
Price of an occupational disability insurance: Depending on the benefit duration
Also, the age at which the disability benefit is paid (maximum duration) is a factor in the amount of your contributions: the longer the disability insurance pays, the more you pay.
In contrast to this, you can agree separately on the duration of insurance, ie the age at which the insured event occurs, in the case of many contracts. For most insurance companies, the maximum insurance or benefit age is 65 or 67 - the age at which you normally retire. And you should also agree on this period.
Attention: The following examples are not binding! They are merely intended to illustrate the extent to which the contribution levels depend on the various factors. The numerous insurance conditions, which are explained below, also play a role in the calculation of premiums. Especially cheap offers often also contain disadvantageous conditions. So look carefully!
Calculation example 1
If you take out an 29 Euro Disability Insurance Plan for 1.000 Euro Monthly with a benefit and insurance period up to 65 years that meets all the important conditions (see below), you can get them for 53,62 Euro a month.
Calculation example 2
For a life-long period of service (incapacity to work until the 66 year, but the insurance pays for a lifetime), you would have to pay 110,33 Euro per month.
Calculation example 3
If you take 40 years of occupational disability insurance, which only runs until the 5 year (benefit and insurance period), and the monthly pension payment is 2.000 Euro, you pay 95,17 Euro per month. With a term of up to 62 years already 307,22 Euro would be due in the month.
Curiosities: insurance liability for rejected BU?
Anyone who thinks that he can later hold an insurance company that has refused an application for occupational disability insurance, if the occupational disability actually occurs, is wrong.
Stuttgart Higher Regional Court has ruled that an insurance company that had previously refused insurance against disability would not be required to pay damages later. One of the reasons for this is that there is no obligation to contract for the insurance company.
What are the options for hedging?
For example, you can take out occupational disability insurance as a package with a Rürup pension, a private life insurance or a pension insurance policy, each including an occupational disability insurance. In combination with the Rürüp pension, contributions are tax-deductible.
They can meet high capital requirements, such as fixed-income securities, funds or equities.
Independent occupational disability insurance in comparison
Compared to the Kombipaketen it offers often more favorable conditions and is considered as more powerful - despite the control advantage of some combination kits.
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