Daily Sickness Benefit Insurance
The daily sickness benefit insurance covers loss of earnings during the period of illness. It should be calculated in such a way that its amount is sufficient to cover the current net financial needs of the patient and his family. It is important to ensure that the insurer does not stop his benefits when applying for the OD pension, but only when it actually pays them.
In the event of an accident, the casualty insurance pays either a one-off payment or a current pension in the event of permanent accidental damage. The benefits are used to pay for salvage and rescue costs, hospitalisation, cures and cosmetic operations, but also for conversion measures in the house (barrier-free living) or at the car (disability-friendly equipment).
Dread Disease Insurance
Dread disease insurance pays a lump sum in the event of a serious illness, irrespective of occupational disability. It thus covers events such as cancer or multiple sclerosis, as well as heart attacks, strokes and kidney failure. This type of insurance comes from the Anglo-Saxon countries and is only offered in Germany by a few insurers and at various conditions.
Basic Disability Insurance
The basic disability insurance insures the loss of basic skills such as seeing, hearing or speaking. It is not a matter of occupational disability or disability to work.
The combined pension, offered by a few insurers, is a combination against risks from accident, serious illness or loss of basic skills. Such policies make sense for people with jobs that are difficult to insure, previous illnesses or advanced age.
Supplementary Nursing Care Insurance
The supplementary nursing care insurance covers the gap that often exists between the benefits provided by the statutory nursing care insurance and the actual nursing care costs. Currently, insurers offer three types of insurance: Nursing care pension insurance, daily care allowance insurance and nursing care cost insurance.
Children and Adolescents
For children and adolescents, additional protection can be achieved through pupil occupational disability insurance, school disability insurance and supplementary child invalidity insurance. The insurance companies make ongoing pension payments under these policies.
Occupational and disability pensions are subject to taxation. The amount depends on whether the pension serves as a basic pension, forms a funded supplementary pension or consists of investment products. Occupational disability pensions from a company pension scheme are fully taxed retroactively, while an occupational disability pension based on investment products is only taxed on its share of earnings.