Have you lost the ability to work? There is insurance coverage that works for you
The ability to work is extremely important – it allows us to get earn with dignity, and lead an active, rich and satisfying lifestyle. None of us can predict how and when our work capacity will be impaired – whether due to an accident or illness, whether partially or fully, whether temporarily or permanently. What we do know is that in case we end up in such a situation, we must prepare a “backup plan” to protect us and our family members from loss of income as a result of losing our ability to work.
This backup plan is called disability insurance – it is needed by you, like any other person, in situations where your ability to work and earn is partially or completely impaired. Insurance coverage for loss of working capacity is the best way to ensure receiving a monthly payment, which will be a substitute for a salary and a source of income that will allow you and your family to maintain your daily routine without financially collapsing.
When you don’t work – that’s how it works
- Who is eligible for compensation for loss of work capacity? The compensation will be paid to the insured party who was working until the occurrence of the insurance event (illness/accident) and who, as a result of the event, was deprived of the ability to work in any profession or occupation in which they worked before the event, or in any other reasonable occupation appropriate to their education, at a rate of at least 75%.
- When will the compensation be paid? At the end of one month or 3 months of waiting as long as the insured party is unable to work, or until the end of the coverage period established when joining the insurance (end: age 60-67).
- What about the premiums? An insured person who has lost his ability to work will be released from paying premiums.
- What happens when an insured party is found to be incapacitated to work and works? An insured person who is found to be incapacitated to work and at the same time works part-time or full-time in another job – will receive an income supplement at the rate proportional to the damage to their earnings.
- Until when will compensation be paid for partial loss of working capacity? Until the end of the incapacity to work or until the end of the insurance period – whichever comes first.