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If you can no longer practice your job, occupational disability insurance is a possible lifeline. It should contain a few clauses.
Frankfurt – Anyone who has a job can consider themselves lucky. This ensures a regular income. But sometimes unforeseeable events mean that employees can no longer do their jobs. Here, so-called occupational disability insurance can prevent the worst and provide financial security. But is insurance worth it for all professional groups? After all, not all types of insurance are absolutely necessary, as one expert confirms.
Take out occupational disability insurance: Why self-employed people in particular should do this
Die Consumer advice center has a clear opinion on this matter. “Occupational disability insurance is essential for everyone who lives on their income. An accident or a serious illness can cause you major financial problems,” write the consumer advocates on their website Website. In fact, such strokes of fate can endanger livelihoods – the risk of occupational disability (BU) is a sensitive issue, especially for the self-employed.
Occupational disability insurance can offer financial security – especially for the self-employed. © Sascha Steinach/Imago
Allianz explains: “Self-employed people and freelancers are usually not covered by the German pension insurance. This means that in the event of occupational disability, you are not entitled to a disability pension. Self-employed people are usually not automatically insured in statutory accident insurance, but can take out insurance voluntarily.”
The insurance company continues: “Even if you pay into the statutory pension insurance or a pension fund (e.g. architects or psychotherapists), you will generally only receive benefits in the BU case if there is complete occupational disability, i.e. you no longer have three hours or can no longer do any work.” Furthermore, psychotherapy does not have to be an obstacle to taking out occupational disability insurance.
What is occupational disability insurance?
But what does occupational disability insurance actually do for those affected? If BU insurance applies, a pension is paid out to the insured person if employees can no longer carry out their job due to an accident or illness.
Die Stiftung Warentest had examined a total of 67 offers for occupational disability insurance in 2024, with 38 received, more than half of them Test The top grade was “Very Good”. So there doesn’t seem to be a lack of recommendable options for employees.
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Occupational disability insurance should contain some mandatory provisions
The consumer advice center has summarized the important points that professional insurance should contain. In order to obtain reliable protection, interested parties should find the following provisions in the contract:
- The BU contract applies worldwide.
- An occupational disability occurs if the insured person is expected to be more than 50 percent unable to work for 6 months or has already been so for this period.
- The pension is paid out if the insured person is no longer able to work at least 50 percent of the time in their last job due to illness, physical injury or more than age-appropriate loss of strength. This also applies if you change careers – for the last job you performed.
- It is not checked whether insured persons could carry out another activity based on their knowledge, skills, professional experience or training (so-called “abstract waiver of referral”).
- A retroactive payment of the pension from the first day of the six-month period is also possible.
- If the insurance company receives a report late, the pension will be paid retroactively for at least three years.
- If desired, the insurance amount can be deferred during the performance review People who are unable to work often cannot easily continue to pay their monthly insurance premiums.
- If there is a temporary recognition, the insurer does not demand the repayment of pensions that have already been granted if it turns out that the claim was not justified.
- If the insured person, through no fault of their own, did not declare their own previous illnesses, the insurer waives the right to terminate the contract or increase the premiums.
Incapacity to work and occupational disability – here are the differences
A distinction must be made between the terms incapacity for work and occupational disability. Attorney Matthias Neeb is a specialist in insurance law and explains the differences His law firm’s website: “Incapacity to work always occurs when the employee is so ill that he cannot perform his contractually agreed work temporarily cannot fulfill. This can be due to a physical or mental illness or an accident.”
The expert continues: “Incapacity to work means that an employee or self-employed person is likely to will no longer be able to practice your previous job for more than 6 months. The trigger can be a physical or mental illness or an accident.” If you are too late for occupational disability insurance, you can still find out about alternatives. (kh)
