10 Prejudices about occupational disability insurance that are not true at all
Do you get nervous or insecure at the thought of disability insurance policies? Then you are like many. There are many prejudices and misconceptions about this type of insurance. However, these biases can lead to choosing coverage that may not be the best for your situation.
To help you separate truth from fiction, we’ve compiled 10 common preconceptions about disability insurance that aren’t true at all.
Don’t let misconceptions stop you from considering disability insurance. Such an important decision should be based on facts and not on unfounded prejudices.
Here are 10 prejudices you should forget:
- Premiums for disability insurance are prohibitive.
- It is impossible to buy an occupational disability insurance if you already have health problems.
- The insurance companies never pay out.
- Disability insurance is only necessary for people who have dangerous occupations.
- Disability insurance is not necessary if you are still young and healthy.
- The benefits from an occupational disability insurance are taxable.
- Disability insurance only covers accidents.
- Occupational disability insurance is only necessary if you do not have any other insurance.
- Occupational disability insurance is unnecessary if you already have life insurance.
- Occupational disability insurance is only necessary if you have children or have to support a family.
Occupational disability insurance – myths and prejudices
The market for occupational disability insurance is large and confusing. Many people shy away from taking out such insurance because they think the premiums are too expensive. But this is a myth.
In fact, premiums for occupational disability insurance are not necessarily higher than for other insurance policies. It depends on which insurer you choose and which tariff you take out. The individual risk assessment also plays a role.
However, it is worthwhile to deal with the topic at an early stage and to compare offers. Because compared to the financial consequences of an occupational disability, the premiums for an insurance policy are low. Those who find themselves without insurance if they are no longer able to work for health reasons must expect to lose their financial standing.
- Myth 2: Occupational disability insurance is only useful for older people
- Myth 3: If I’m healthy, I don’t need occupational disability insurance
- Myth 4: I am already covered by the statutory pension scheme
These and other prejudices are widespread, but not all of them are true. It is therefore worth taking a closer look and seeking advice in order to clarify which insurance really makes sense. Because in the event of occupational disability, insurance can make all the difference.
10 myths about occupational disability insurance debunked
One of the widespread myths is that occupational disability insurance is not necessary. However, this is a big mistake, because the protection of one’s own working capacity is of utmost importance. Both accidents and illnesses can affect anyone and, in the worst case, lead to occupational disability. Occupational disability insurance ensures that you are financially secure and can maintain your standard of living in the event of occupational disability.
Another myth says that occupational disability insurance is too expensive. But this is not the case, on the contrary: the younger you are when you take out the policy, the cheaper the premium is. A comparison is also worthwhile, because there are numerous tariffs with different benefits and premiums.
There is also the opinion that an occupational disability insurance is only necessary for particularly dangerous professions. But even in office jobs accidents or illnesses can occur that can lead to occupational disability. Therefore, it makes sense to insure one’s own working capacity regardless of the industry or type of job.
Another misconception is that a private accident insurance is sufficient. But this insurance only covers accidents, not illnesses. Occupational disability insurance, on the other hand, protects the ability to work, regardless of whether one becomes unable to work due to an illness or an accident.
- Some more myths that are not true at all:
- – Occupational disability insurance is only worthwhile for young people
- – If you don’t have a family, you don’t need occupational disability insurance
- – The insurer always pays the full amount in the event of occupational disability
So there are many myths and prejudices about disability insurance that, upon closer examination, turn out to be false. It makes sense to insure one’s own working capacity regardless of age, profession or marital status, and in the worst case it can protect against financial difficulties.
Myth 3 – Occupational disability can affect anyone
There are many prejudices about occupational disability insurance, but they are not true. One of them is that occupational disability only affects older people or people with a high risk. However, anyone can suddenly become unable to work due to an accident or illness.
Occupational disability insurance is especially important for people who earn their living through their work. A loss of working capacity can quickly lead to financial problems. They include not only physically demanding jobs, but also sedentary jobs that can cause back or eye problems.
Another prejudice is that occupational disability only occurs in the case of serious illnesses such as cancer or heart attack. Even minor injuries can have long-term effects on the ability to work. Occupational disability insurance protects against the financial risk posed by occupational disability.
- It is important to adapt the individual occupational disability insurance to one’s own needs and risks.
- Taking out occupational disability insurance early can be worthwhile, as the risk increases over time.
- The cost of disability insurance depends on a variety of factors, including age, health status and occupation.
Overall, an occupational disability insurance is an important coverage in case of occupational limitation. However, it is important to inform yourself well beforehand and to check the offer carefully.
Occupational disability insurance isn’t all that complicated!
Many people think disability insurance is complicated and difficult to understand. However, this is a widespread prejudice and is not necessarily true. It is true, of course, that there are some technical terms that you should understand if you want to take out occupational disability insurance.
But basically, occupational disability insurance is very simple to understand. It is an insurance policy that pays a monthly pension in the event of disability. It provides financial protection if one is no longer able to perform their job due to illness or accident.
It is important to emphasize that occupational disability insurance is of great importance. Many people underestimate the risk of becoming unable to work and think that nothing will happen to them. But the facts show that occupational disability is becoming more common and represents a major financial risk.
- Therefore, everyone who works and depends on their income should take out occupational disability insurance.
- It is not a complicated process to purchase occupational disability insurance, and there are many insurance companies that operate in this field.
- It is worth investing time to compare the different insurance offers and find the best deal for you.
Ultimately, it’s important to invest in disability insurance to protect yourself against financial difficulties in the event of occupational disability. It’s not a complicated or difficult process to understand – anyone can do it!
Occupational disability insurance is only relevant for older people – this is a myth
One of the most persistent preconceptions about disability insurance is that it is only relevant for older people. However, this is not true. On the contrary, young people should think about their insurance coverage especially early on. Especially in their younger years, many people have not yet built up reserves and are particularly affected by the consequences of occupational disability.
Another factor that speaks against the assumption that occupational disability insurance is only relevant for older people is the fact that many illnesses that lead to occupational disability can affect young people. This includes, for example, mental illness or accidents, which not infrequently happen to young people as well.
It is therefore important for young people to consider occupational disability insurance at an early stage and to protect themselves against the possible financial consequences of occupational disability. Because this is the only way they can preserve their livelihood and financial security in the event of occupational disability.
- Myth: Disability insurance is expensive
- Myth: Insurance only pays in case of total occupational disability
- Myth: Occupational disability insurance is only relevant for older people
- Myth: Young, healthy people do not need disability insurance
- Myth: There is no difference between occupational disability and disability insurance policies
- Myth: Occupational disability insurance is unnecessary if you already have private accident insurance
- Myth: It’s hard to get disability insurance if you have pre-existing conditions
- Myth: Occupational disability insurances are only relevant for physically working professions
- Myth: Occupational disability insurance is only necessary for singles or childless couples
- Myth: Disability insurance benefits will count toward the state pension