Securing construction financing

Burnout is a very common cause, just like back problems. I want to see how someone sits at a desk for 8 hours with a herniated disc

That's what advertising claims, yes, but is it really so? I have not yet experienced a burnout or herniated disc case in my circle of acquaintances/colleagues that would have qualified for disability insurance. To become disabled, you need a negative prognosis and must be unable to work for at least 6 months. The worst burnout case I once witnessed was back at work after 9 months, herniated disc about 4 months (with persistent aches, but that’s covered within continued salary payment or sick pay, not disability insurance).

There is a risk life insurance for me as the main earner. The amount is enough to survive without me for about 15 years, after which the house would probably have to be sold. The children will then be grown up and the wife will have to support herself.

That’s why we let offers come in and decide based on the amount of the offer.

You have to decide based on content and not bottom right. For that, you need a capable consultant!

Regarding disability insurance, there are also stories going around that it is incredibly difficult to get the insurance company to pay. Rather, they sue their way through the courts for so long or delay everything so much that the policyholder dies before any payment is actually made.

You have to decide based on content and not on the bottom right. For that, you need a capable advisor!

We have one. He helped us enormously with the construction financing and saved us about €14,000. And that even though we consulted 6 financial advisors.

You have to decide based on content and not on the bottom right. For that, you need a capable advisor!

Both. It’s no use if the service is right but the price shows a triple-digit amount per month. That’s why we will contact our financial advisor and discuss everything.

Risk life insurance crosswise and decreasing linearly. Additionally, each one has a disability insurance, with which each ends up at about 70% of net income. Furthermore, an old life insurance policy with a high guaranteed interest rate and meanwhile a nice portfolio.

If one of us or both die, the apartment for the survivor or our daughter is completely paid off plus a small cushion.

If one of us loses their job, the installment is chosen so that it can also be serviced from one salary.

I understand that, but the company pension scheme and the statutory pension would be sufficient to cover the loan with one income. By the way, I am responsible for two neurological specialist hospitals and a neurological rehabilitation clinic. The average age of the patients is 67. But of course, there are enough younger ones. Not too long ago, we had an 8-year-old boy with Parkinson's.

Have you secured disability insurance with the company pension scheme?

Statutory pension? I assume you mean the disability pension. To receive the disability pension, quite different requirements must be met. As long as you can still work 6 hours as a doorman, you get nothing, and full benefits only if you can’t do even three hours of any work. It doesn’t matter how unrealistic it is to find a job within the theoretically acceptable work. The German Pension Insurance (DRV) uses every means possible to avoid paying. And until that is finally sorted out after 2 years or longer and several expert reports from the social court, you are left out in the rain...