In the event of disability
The performance trigger at a disability insurance is the disability. This is when you last activity for expected at least 6 months only to 50% can exercise. Then the agreed BU pension is paid. With good insurers even retrospectively from the time of disability. But how long is the BU pension paid?
Up to the agreed final age
In principle, the occupational disability insurance pays in the event of occupational disability until the insurance is taken out agreed end age.
The final age of disability insurance should match the current retirement age. That’s up to date for most people at 67 years. Should the age limit for the standard old-age pension be raised (e.g to 70 years), you can increase the final age with good disability insurance without a health exam.
Taking out disability insurance when you reach the age of 65 saves money, but it can be a fatal mistake if the worst comes to the worst. The fact is that most people only become unable to work in old age.
In the event of an occupational disability, the BU pension is then only paid up to the age of 65. However, the old-age pension does not begin until the age of 67. The insured person must financially bridge 2 years. Certainly not a great time.
It is important to know that disability insurance never beyond the agreed final age pays. That is why it is so important to take out a sufficiently high BU pension so that you can also do something for your old-age provision during the period of disability. The old-age pension from the state is often lower than the BU pension.
Increase final age only with health check
With the exception of the increase due to adjustment of the retirement age, the final age cannot be increased retrospectively. It is only possible to conclude a new contract.
Until you are no longer disabled
Of course, it is also possible for you to be able to work again after being unable to work. Disability insurance pays for as long as until you are no longer disabled.
For example, you become unable to work at the age of 40, but you can work again at the age of 45. Then the BU pension ends when you can work again.
It is important to know that you can also receive more than 1x benefit from the disability insurance. If, in the example above, you become unable to work again at the age of 48, the insurance company will pay the agreed BU pension again – for as long as you are unable to work or until the agreed final age.
Incidentally, an average disability lasts about 6 years.
As a third possibility, how long the disability insurance pays, death must also be mentioned. If you are unable to work and die before reaching the final age, the payment of the BU pension ends. The BU pension is not paid to the surviving dependents.
However, if there are surpluses or surrender values, these are usually paid out to the surviving dependents.
Insurer can adjust pension
In principle, the insurance company pays the BU pension for as long as you are unable to work. Whether you are still unable to work is checked regularly, for example every 2 years, with a questionnaire. However, the insurer has two other options for setting the BU pension. One of them is included in every disability insurance, but you should definitely avoid the other.
One concrete reference is part of any disability insurance. For example, you became unable to work as an office worker due to burnout, but after a few months himself decidedto return to work as a gardener. Under certain conditions, the insurer can then specifically refer you to the new profession and stop paying the BU pension.
You should only take out disability insurance if you are abstract reference is waived. If not, it can the insurer abstractly refer you to another profession. Again you became disabled as an office worker. In the case of abstract referral, the insurer can refer you to a profession that you could theoretically practice based on your knowledge and skills and which corresponds to your position in life. It does not matter whether someone is actually wanted for this job.
No contributions during disability
While you are disabled, you must pay no contributions to disability insurance. If you are no longer unable to work before the agreed final age, you will have to pay the contributions again from this point in time.
How long do you need disability insurance?
Now that you know how long disability insurance pays out, you probably want to know how long you need disability insurance at all?
Of course, the question is only relevant if you are not already disabled.
Basically, you can say that you need disability insurance as long as you are dependent on your active income from work. If, for example, you have inherited a lot or are no longer dependent on your active income for other reasons, you can think about terminating the disability insurance.