Risk or insurance?
Unlike people employed entrepreneurs are not entitled to a disability benefit. "Happens to me not." Or, "Even if I am sick, I can work," think many entrepreneurs. They therefore consciously take this risk, often because of the generally high premium on disability insurance.You too? Or take precautions in the form of a substantial financial buffer or insurance , so you have no financial worries in case of disability?
When are you disabled?
Are you partially incapacitated? Then you can usually still perform some work. Someone who is totally unable to work, can not work anymore. The examiner shall determine the degree of disability.What is disability insurance?
What reimburse disability insurance does not?
Disability that arises is not insured by alcohol and / or drug use.What disability insurance are there?
Disability insurance come in all shapes and sizes. Which one is best for you depends on what you find important. Many entrepreneurs tend to look at the amount of the premium, but it is also recommended to look closely at the coverage.You can insure yourself for professional incapacity or suitable work:
- Occupation Disability: You become partially incapacitated? Then see whether you can still practice your current occupation. That is not the case, will pay your invalidity insurance money. You do than to accept any other work.
- Suitable work: you choose suitable work? The insurer may require you to partial incapacity to accept a replacement function (suitable work) outside your own company. The premium for suitable work is often lower than professional disability. Look so good that you attach more importance.
What to look for when taking out a disability insurance?
Do you have a hard job and work for example in the construction industry? Inquire about the final age of the insurance. Some insurers do not turn in heavy occupations in the state pension age, but to a lower end of the age.
That usually means or build a buffer, either at the end of your career opt for retraining (office rather than executive office) Other focal points are.:
- Ensure that all insured causes of disability. Note for example, can not be excluded that psychological problems.
- Also keep in mind the fact that your income may be checked regularly by your insurer and at what times it occurs: either when you become incapacitated, or only at the start of the insurance. The latter gives more assurance that you get the benefits you need.
