A health condition or event that results in no longer being able to work may give rise to many difficulties and complications. For the self-employed, such a loss can result in a rapid deterioration of their savings. Even for workers whose wages will continue to be paid by the employer, difficulties may still arise – for example, if the period of incapacity exceeds period of sick pay. In all cases, loss of income insurance will provide financial certainty. Investing in such an insurance assures that during the period you are unable to work you can focus on what is most important: your health and recovery.
Benefits of loss of income insurance
The daily allowance insurance secures the money necessary to finance daily life in the case of incapacity to work due to an accident or illness. In the event of a claim, payment of up to 100% of salary is possible for up to two years, depending on the type of insurance. By accepting a longer waiting period until the allowance is paid in the event of incapacity for work, you will pay a lower premium.
The daily allowance insurance offers much flexibility for the insured - for example the free choice waiting times and daily allowances. This allows each individual the ability to select the plan that is ideally adapted to their needs.