Disability is when someone has an occupational disability over a longer period of at least one year. This occupational disability must be due to impairment of their physical, mental or psychological health. It makes no difference whether the occupational disability is congenital or due to an illness or accident.
If someone is no longer or only partially able to carry out their contractual work, this is referred to as incapacity for work. As with disability, the reasons for the incapacity must be due to impairment of their physical, mental or psychological health. The difference between this and occupational disability/disability is that someone who is deemed incapable for work is unable to carry out their previous work (e.g. as a construction worker) for physical, mental or psychological reasons, but is in principle capable of doing another job. If this incapacity applies to all professional activities, this is referred to as occupational disability.
If you opt for term life insurance in combination with Pillar 3b, you can insure two people. If one or both insureds die, the one-time lump-sum payment is paid out.
The beneficiaries of the lump-sum death benefit depend on the solution you choose: If you opt for term life insurance with your Pillar 3 solution, you can choose the beneficiaries in accordance with the statutory provisions. These provisions depend on your marital status. If you opt for a Pillar 3b solution, you are free to choose the beneficiaries. The lump-sum death benefit will be paid directly to the beneficiaries and does not form part of the deceased's estate.
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