Work Disability Insurance
Work disability insurance is the most important insurance alongside health insurance and is a vital insurance that everyone who cares for his or her future should possess.
What is work disability insurance exactly?
Work disability insurance (also called income protection insurance ) provides you with a salary replacement if you are at least 50 percent unable to work because of an injury or illness up until your retirement age, if necessary. Your working ability is potentially worth 2 to 4 Million euros (for some people even more). To calculate this, you need to add up all the years of income from now until the age of retirement. Moreover, you should also take into consideration that you will earn more over the years due to rising the career ladder as well as also higher incomes thanks to inflation.
A work disability 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.
Currently you most likely have zero protection from the state.
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.
How does it work
In case you are unable to work due to an illness or injury, the insurance will provide you with a monthly payment replacing your salary un until the age of 67, if necessary, or depending on the length of your contract that you initially decided for.
How does it benefit you and yout family?
You financial commitments do not just disappear if you are unable to work. But with the work disability insurance you and your family are financially on the safe side, no matter what happens in life health wise. You will still be able to continue covering your living expenses, etc.
Make an enquiry for
a free of charge consultation
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.