Just found your channel and I‘m starting watching through all your videos. Just one suggestion maybe to also add the German name of the topic as a hashtag in the title. It helps us to understand that oh this is actually the complicated „Berufsunfähigkeitsversicherung“ that I’ve been trying to understand! Thank you for your video, looking forward to the next one!
Thank you for making another nice video with good information. I am curious to know in case of burn out, how it is proved and the insurance is claimed?
I would also like to hear the advantages and the disadvantages of combining disability income insurance and basic pension. Emotionally, I feel difficult to pay into something that might not pay me back at all, although that's the point of insurance in general. The combi insurance appeals to me in this regard, because I would be able to see at least some part will be saved for my future. But I read that the flexibility of such combi insurance could be an issue, especially expats like us who might not be sure to stay in Germany forever.
Great thoughts & questions you are asking yourself. "Flexibility" is a buzz word that gets thrown around a lot, especially in German finance channels here on TH-cam. I'm still not quite sure what people mean by that because nobody explained what they are missing. It seems everyone is just throwing around this buzz word without even knowing what it means. You just have to be aware that money you invested in your base pension, will stay in your base pension until retirement. Many of our expats are fine with receiving money from Germany if they are spending their retirement back in their home country. At least they enjoyed the tax benefits throughout their working life. Personal preference. - Axel
@@PerFinEx Hi Axel, thanks for your insightful answer! I believe (at the limit of DeepL German-English translation) on the German website I read considered the sudden change of circumstance (e.g. loosing job, getting pregnant) as a prime example of the potential disadvantageous situation when the inflexibility plays a role. It wrote along the line of not being able to keep the disability income insurance, while pausing/cancelling the basic pension payment in case of sudden drop of salary level. But as you always say, "it depends" on the design of individual insurance products, doesn't it? I can imagine that some combo insurance would allow us to adjust the contribution level for each component dynamically and separately, although it's sold as a set.
Great question. That's kind of the irony of insurances: If the insured damage happens, you are sad. If the insured damage does not happen, you are sad that you paid the premium for nothing. 😀
This might be a stupid question, but does it pay for job loss due to burn out? Is there some time limit such as the insured person must be working full time. Are people serving their probation period covered by this insurance?
Thanks a lot for all your insightful and very well explained content. Could you maybe help me to resolve a doubt I have regarding the Disability Income Insurance? An insurance agent is offering me a Disability Income Insurance. He claims that for the first six months of my potential disability, I would be receiving the regular compensation from my public insurance and then after six months I would start receiving the disability pension. Additionally, I would then receive 6 disability pensions at once to cover 6 previous months of disability. So according to him, for the first 6 months of working disability I would receive 6x compensation from public heath insurance and 6 disability pensions on top of that. Is that possible?
Great question and good that you are asking. No, that's not possible and your insurance agent is lying to you. Health insurance pays in case you are "sick" and disability insurance pays in case you are "disabled." And you are either one or the other, so EITHER health insurance OR disability insurance pays. In case we can help you out with your disability insurance, you can book a free meeting with us here: perfinex.de/meeting
Hi , great info .... one suggestion, remove the bot voice .... and yes of course we need the comparison with base pension and disablility insurance
Thank you for the honest feedback. 👍
We‘ll work on the comparison of the disability insurances.
Love your way of explaining...
God bless you brother
Thank you very much for watching. Glad you enjoy our videos. 👍
Just found your channel and I‘m starting watching through all your videos. Just one suggestion maybe to also add the German name of the topic as a hashtag in the title. It helps us to understand that oh this is actually the complicated „Berufsunfähigkeitsversicherung“ that I’ve been trying to understand! Thank you for your video, looking forward to the next one!
Great suggestion! We will add the German word so more people can find our videos. Thank you for that! 🙂
Thank you for making another nice video with good information. I am curious to know in case of burn out, how it is proved and the insurance is claimed?
I would also like to hear the advantages and the disadvantages of combining disability income insurance and basic pension. Emotionally, I feel difficult to pay into something that might not pay me back at all, although that's the point of insurance in general. The combi insurance appeals to me in this regard, because I would be able to see at least some part will be saved for my future. But I read that the flexibility of such combi insurance could be an issue, especially expats like us who might not be sure to stay in Germany forever.
Great thoughts & questions you are asking yourself. "Flexibility" is a buzz word that gets thrown around a lot, especially in German finance channels here on TH-cam. I'm still not quite sure what people mean by that because nobody explained what they are missing. It seems everyone is just throwing around this buzz word without even knowing what it means.
You just have to be aware that money you invested in your base pension, will stay in your base pension until retirement. Many of our expats are fine with receiving money from Germany if they are spending their retirement back in their home country. At least they enjoyed the tax benefits throughout their working life. Personal preference.
- Axel
@@PerFinEx Hi Axel, thanks for your insightful answer! I believe (at the limit of DeepL German-English translation) on the German website I read considered the sudden change of circumstance (e.g. loosing job, getting pregnant) as a prime example of the potential disadvantageous situation when the inflexibility plays a role. It wrote along the line of not being able to keep the disability income insurance, while pausing/cancelling the basic pension payment in case of sudden drop of salary level. But as you always say, "it depends" on the design of individual insurance products, doesn't it? I can imagine that some combo insurance would allow us to adjust the contribution level for each component dynamically and separately, although it's sold as a set.
I formative video as usual ... just wondering what happens to the premium one pays on the long run if he/she never gets disabled?
It becomes your donation to someone who got disabled.... And we can be happy that we are healthy .
Great question. That's kind of the irony of insurances:
If the insured damage happens, you are sad. If the insured damage does not happen, you are sad that you paid the premium for nothing. 😀
What if you want to move to Germany and already are disabled?
This might be a stupid question, but does it pay for job loss due to burn out? Is there some time limit such as the insured person must be working full time. Are people serving their probation period covered by this insurance?
1. Yes.
2. No.
3. Yes.
😂
@@PerFinEx Thank you 😊
Thanks a lot for all your insightful and very well explained content.
Could you maybe help me to resolve a doubt I have regarding the Disability Income Insurance?
An insurance agent is offering me a Disability Income Insurance. He claims that for the first six months of my potential disability, I would be receiving the regular compensation from my public insurance and then after six months I would start receiving the disability pension.
Additionally, I would then receive 6 disability pensions at once to cover 6 previous months of disability. So according to him, for the first 6 months of working disability I would receive 6x compensation from public heath insurance and 6 disability pensions on top of that. Is that possible?
Great question and good that you are asking. No, that's not possible and your insurance agent is lying to you.
Health insurance pays in case you are "sick" and disability insurance pays in case you are "disabled." And you are either one or the other, so EITHER health insurance OR disability insurance pays.
In case we can help you out with your disability insurance, you can book a free meeting with us here: perfinex.de/meeting
What if i get hurt in my job and disabled?
The insurance company will pay you a monthly disability pension if you cannot do 50% of your job anymore.
Thx for the info... Please in the future, when editing videos turn the volume UP...
Will do. 👍