Income protection insurance in Germany

In case you were to have an accident or an injury that would prevent you from continuing working, work disability insurance would protect you against a loss of your income. This type of insurance secures your financial future against unforeseen health changes such as back problems, heart attack and other issues, mental disease such as stroke, cancer, accident effects and so an and so forth.

During your working years, your earning power is your most valuable financial asset. You need to be able to earn money to have enough cash to pay your expenses and save for your personal investments. If you think about it, your working ability is potentially worth 2 to 4 Million euros. And for some people even more. To calculate this, simply add up all the years of income from now until the age of retirement. Plus, consider higher pay over the years thanks to rising the career ladder and also higher incomes due to inflation.

We often do not realise how big our potential is, because the money we earn is usually reinvested into other assets, such as cars, houses or other valuable things that we insure against loss or destruction. So, why not to insure the biggest asset – our ability to earn income?

If you experience disability, work disability insurance provides you with a monthly salary replacement if you are at least fifty percent unable to work because of an injury or illness up until your retirement age, if necessary. The amount you would get and for how long depends on your current income, your insurance policy, plus what coverage you chose to receive. More details about the insurance and what policy will suit best according to your current situation, you can receive through our free of charge consultation.

Your ability to work is worth a lot – but it is not secured. Every fourth person at some stage becomes unable to work in his or her profession due to acquired health problems. The impact can be drastic.

A work disability insurance can give financial protection so that one can continue with the same life-style and continue to meet ones day to day financial liabilities such as paying rent, mortgage, children’s education, family expenses, general living costs, saving for retirement etc. Instead of being in potential financial ruin.

Please feel free to contact Derrick Loehr below to receive detailed information on work disability coverage and also on critical illness insurance which is an interesting additional insurance to have alongside work disability insurance.