Press release 15 January 2016
ERGO Lebensversicherung has developed a new occupational disability insurance for the self-employed. For the majority of insured professions, this product stands out by offering more benefits at a lower cost.
An example of an improved benefit is the introduction of an infection clause for medical staff. This applies if medical staff are no longer able to carry out their actual job as a result of an infection and due to official regulations or a legal directive. A special tariff is available for notaries and lawyers that generally waivers a job referral. For students, housewives and househusbands, ERGO waivers an abstract referral with the new product. This means that significantly higher benefits are the order of the day for this group of people.
For customers who are insured with German health insurer DKV and life insurer ERGO Lebensversicherung, this new product offers a seamless transition from DKV daily sickness benefits to an ERGO Lebensversicherung occupational disability annuity as an additional improvement.
Besides normal private cover, customers are now able to take out the new insurance in the form of a direct life insurance as part of a company pension scheme, allowing them to save on taxes and social security contributions.
Features also include subsequent guaranteed cover without the need for a renewed health assessment, an annual automatic adjustment and the possibility to agree on indexation of pensions.
Johannes Lörper, Board member of ERGO Lebensversicherung, emphasises the pricing structure of the product: “We have succeeded in significantly reducing premiums in a majority of professions, and have thus secured a good position in the market.”
The new ERGO Lebensversicherung occupational disability insurance has been developed by the Company in close cooperation with customers and the Company's sales organisations.
Ever since the pension reform in 2001, statutory cover for persons with reduced earning capacity no longer suffices. The German market for insuring the workforce is huge: approximately 18 million of the working population aged between 15 and 45 currently have no occupational disability insurance.
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About ERGO Lebensversicherung
With premium income of 3.0 billion euros and capital investments of more than 39 billion euros in 2014, ERGO Lebensversicherung is one of the leading suppliers on the German market. It offers varied products with individual solutions for private and company pensions, wealth formation and income security for private and corporate customers. The company, previously known as Hamburg-Mannheimer, is the largest life insurer within the ERGO Insurance Group and can look back on more than one hundred years of experience.
ERGO Lebensversicherung is a member of the ERGO Insurance Group which, in turn, belongs to Munich Re, one of the world’s leading reinsurers and risk carriers.
For more information, please go to www.ergo.de
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of ERGO Lebensversicherung. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forwardlooking statements or to conform them to future events or developments.