Annuity of up to €12,000 – Option of a follow-on policy without health questions.
The Wiesbaden-based financial services provider Delta Lloyd is now offering special occupational incapacity cover for students. Students aged between 18 and 30 can take out student occupational incapacity cover with an annuity of up to €12,000.
Delta Lloyd provides “own occupation” cover for this target group. With Delta Lloyd, the student is insured against advance occupational incapacity right from their first semester. Any claim would be assessed based on the occupation of graduates from their programme of study. The following conditions must be met: The insured must be at least 18 years old and enrolled in a course of study at a university or college of higher education. Students who have passed interim qualification exams or have already started their sixth semester are placed in the optimal occupational group.
Follow-on policy without health questions
At the end of the course of study, or when the insured reaches the age of 35, the insurance cover can be extended with a follow-on policy – without a further medical check. The monthly disability pension can be increased to up to €1,500 per month. Furthermore, there is the option to combine the cover with a pension plan. In this way the occupational disability cover can be adapted at a later date to suit new circumstances without any further health questions at all.
Lower rates for occupational disability cover
The advantages of taking out occupational disability insurance early are clear: the earlier cover is started, the lower the monthly contributions. For example, with Delta Lloyd, a 20-year-old student would pay around €21 per month for a monthly disability pension of €1,000 per month, or just €25 per month if combined with basic pension provision. Young insureds also have lower health expenses. With the option of a follow-on policy, the student receives optimum insurance, both now and in the future.
Occupational incapacity or disability hit one in five
The risk of becoming unable to work is still massively underestimated. One in five employed persons has to give up their job for health or physical reasons before pensionable age. This is particularly difficult for young people since, in Germany, statutory occupational disability cover no longer applies to those born in 1961 or later. Only reduction in earning capacity is covered and, even then, you are only eligible if you have made statutory pension contributions for at least five years and are no longer able to work at any kind of job for three hours per day. For young people, occupational incapacity also therefore means social isolation.
Top scores from Morgen & Morgen
The Delta Lloyd occupational disability tariffs have been given five stars in the current Morgen & Morgen ratings. And not only as the overall tariff rating but also for the separate aspects, such as ease of understanding for the application questions, terms and conditions, and incapacity insurance expertise. This makes Delta Lloyd one of the leading providers in this market segment.
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For further information:
Martina Fassbender
Telephone: 0611 773 25 71
E-mail: martina.fassbender@deltalloyd.de
Notes to editors:
About Delta Lloyd
Delta Lloyd Germany is a 100% subsidiary of Delta Lloyd Group, Amsterdam, and therefore part of the British Aviva Group. The company offers a one-stop shop for a wide range of financial, investment and provident products and also provides expert advice on all financial matters. Along with the Delta Lloyd Leben and Hamburger Leben life insurance companies, the Delta Lloyd Group in Germany is made up of a pension fund and a consultancy company for company pension schemes, as well as its own private bank, a property company and a mortgage brokerage.