Neue Grundlagen für die Berufsunfähigkeitsversicherung als Zusatzversicherung zur Kapital- und Rentenversicherung

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Till now, cover for the disability risk has not usually been provided by the German Life Offices. As an increase in the demand for such coverage is to be expected, the „Verband der Deutschen Lebensversicherungsunternehmen“ — the Association of German life insurance institutions — appointed a special committee to examine the existing experiences and to develop new bases of calculation. This Committee has analysed material from Germany and other countries. Because of the differences with regard to the definition of disability, the practice with regard to disablement, the insured persons, the types of disability benefits and the economic conditions, a great range of variation in the rates of disablement was observed. Generally, the rates of disablement increase with age much more under conditions as they are found in social insurance systems than in the case of individual life insurance. Moreover, during an economic boom the rates of disablement are noticeably lower than in periods of unemployment. In consideration of the conditions of individual life insurance in Germany the following disablement rates are recommended: During the present economic conditions of full-employment these rates guarantee a high degree of security and will also be sufficient after a diminution of the present economic boom, especially if the rates of recovery are excluded from the bases of calculation and if instead of the select death rates for invalids the aggregate rates are used. For medium entry ages the premium reserve calculated on the recommended disablement rates has the magnitude of a yearly premium. As, moreover, disability insurance is a risk insurance, no surrender values should be given to active persons in case of cancellation. During the present economic situation a profit may be expected also on the new bases of calculation. Therefore a distribution of profits is advisable. As a part of the realised profit will be needed in periods of increasing disablement rates, the profit should be cautiously distributed and to a certain extent with a time lag (bonus).