Disability insurance is like a lifeboat – you hope you never need it. However, it needs care, maintenance, and support so that it works well in an emergency. Above all, contracts with many options and great flexibility require intensive maintenance.
One disability insurance getting it can sometimes be a challenge. Many policyholders will “tick the box” on the subject once the contract is signed and sealed. Some of our clients are really surprised when we come back to this topic year after year. There is so much to consider.
What you still need to report to the BU insurer
It feels so natural. In fact, not all policyholders think about it – you have to tell the insurer if you are
- the name changes;
- contributions must be debited from another account.
Such reporting obligations are often also contractually agreed, therefore they are found in the insurance conditions. So once a year we ask our customers if there are any such changes.
Supervision: dynamic, yes or no?
If a dynamic has been agreed in the occupational disability insurance, a letter from the insurer usually arrives every year. It includes the offer to increase the insured disability pension by paying a slightly higher contribution without a new health allowance. This usually makes sense, if only because of the inflation.
Once a year we warn our customers about the dynamics. We clarify that you can also object and keep track of how often objections have already been raised. Because with many BU contracts, you can still contradict the dynamic only twice in a row if you don’t want to lose this right to greater insurance protection without a new health check.
In addition to the dynamics, most BU rates also provide for the possibility of increasing the BU pension insured through supplementary insurance without a new health visit. In the first few years, this usually happens for no specific reason. Later you have to prove a reason. This can be, for example, starting a job for the first time, getting married or having a child.
Complex provisions for supplementary insurance in occupational disability insurance
Minimum amount of the increase, maximum amount of the increase, deadlines, financial fairness, maximum limits, possible combinations, increase of the existing or new contract and much more: In the meantime, the regulation of supplementary insurance is very complex for some tariff BUs . So complex that we now have a 20-point checklist for supplementary insurance Opera.
We draw our customers’ attention to this when we see a reason for supplementary insurance. And we’ll let you know if the option to take out additional insurance ends without a reason – oddly enough, most insurers don’t.
Supervision: Changing professional groups in the existing contract can save thousands of euros
In fact, the basic principle of disability insurance is that the state is “frozen” when it is taken out and decides on the acceptance of the application and conditions. Once the contract is up and running, new diagnoses, new types of sports practiced and even a job change do not affect the contract.
However, more and more recent BU rates now include a so-called career change clause: if the insured’s profession changes after graduation, it is possible to ask the insurer to control the professional group and thus the amount of the contribution. To date, only an improvement is possible, not a deterioration.
Care is particularly important for younger policyholders
Due to the increasingly abstruse differentiation of professional groups (keyword “Professional Group Bingo”), the possibility of reducing premiums may already arise if the insured child is transferred from class 10 to class 11. The associated change in the professional group alone can already make Save € 14,000 in contribution. Like in the blog post € 10,000 saved in your contract described.
It is obvious that every year we ask our clients if something has changed in their professional activity. Sometimes we still have to ask ourselves amicably again if it’s possible that the daughter or son has now been transferred to 11th grade …
Have the exclusions and risk surcharges checked
It is possible that the insurance against occupational disability takes place only with a higher premium (“risk increase”) or with the exclusion of one or more previous illnesses (“exclusion from the benefit”). Addendum of February 25, 2022: you can see how many times this has been the case with our clients in 2021 our updated statistics to remove.
But: such a surcharge or exclusion can often be re-examined after a certain period of time and thus can be omitted.
If the time of the first verification possibility is agreed directly when taking out disability insurance, we remind our customers of this great opportunity to improve their contract.
Check the professional clauses
Some (mostly older) BU contracts contain a special professional clause for young people. For example, a pupil, trainee or student clause. After a few years, you must therefore prove to the insurer that you have started work or completed your studies. If the proof is missing, the disability pension can be reduced. Or even stay on one invalidity clause Sit.
It goes without saying that such control is a very special part of managing a BU insurance. It was only recently that we even informed a client by registered letter that she had to act.
Even care: questions, concerns, needs
Of course, good disability insurance support also includes having an open ear for questions, concerns, and needs. This may be the planned gap year with the issue of insurance coverage during this period. Or longer parental leave, which may require a reduction in contributions.
Sometimes someone also moves abroad and the question arises about the insurance coverage of a BU insurance there. Maybe even how to get the insurance documents there in a timely manner. In our extranet Fortunately, we are able to digitally provide all important documents and contract information.
The most important support: support in the event of a claim
The most important reason for the cure? If it suddenly seems possible that you really need to claim disability insurance benefits. This may be the case if you probably for 6 months can not run.
Of course, we are also there for our customers in an emergency. We provide information on how to proceed, develop a strategy, help you complete your benefit application if you wish, and communicate with insurers’ performance reviewers. In very complex cases we collaborate with specialized insurance consultants or specialized lawyers.
In the “life” of disability insurance, there are various occasions and needs to review the contract and take action. If you don’t take it seriously, disappointments are inevitable.
That is why for us the subject of occupational disability insurance begins with counseling on the occasion of graduation. We also support our customers on an ongoing basis during the contractual period and support them in the event of a claim.
What’s in it for you? The insurers recognize approximately 90% of the claims for disability insurance mediated by us. Starting November 15, 2021.
Addendum of 02/25/2022
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Last updated on 04/03/2022