IS IT WORTH HIRING DISABILITY IN LIFE INSURANCE COVERAGE?

IS IT WORTH HIRING DISABILITY IN LIFE INSURANCE COVERAGE?

In order to receive the pension for absolute disability, the Social security system should declare us officially in this situation and this certain requirements must be met. This makes us ask ourselves if we hire in our life insurance coverage by disability which, as any additional coverage, can make the final price of the same worth.

In this article we present what are the conditions for Social Security considers us a beneficiary of permanent disability.

Firstly, to be able to be declared beneficiaries of a pension for absolute invalidity we should illness or being in a situation that hinders us any labour activity, and that this is recognized officially by the Social security system.

If we are not affiliated to the Social Security, in a situation of high (when the disability is the result of a professional accident), assimilated (unemployment, leave of absence, temporary disability, etc.) contributor or not subscribed, neither could be beneficiaries of a disability pension. In the same way nor we could access it if we have not covered a minimum contribution period.

In relation to the minimum contribution period and depending on if we are in a situation of high or assimilated, if we are under the age of 31, required that the generic contribution period is the third part of the elapsed time between the date in that was the age of 16 and the date that the event that caused the disability occurred.

If we have over 31 years is considered necessary a generic contribution period of 5 years at least or the fourth part of the elapsed time between that is the age of 20 and the date on which the event causing the invalidity occurred. If on the other hand we are not subscribed, is requires us to a generic 15-year contribution period and one specific to 3 in the last 10 years. These are the requirements that Social Security would grant us the pension by absolute and permanent disability.

Regardless of whether you can access it or no, it is evident that it is worth that we hire the coverage of disability in our life policy. In the words of the expert in insurance Juan José Boria Migueláñez "Social Security will tell if by accident (labour or not) or disease (working or not) someone has been invalid and your recognized degree of disability." And also say whether or not it has entitlement to an invalidity pension.

The guarantee of disability in life or in accidents is highly recommended in any personal situation. "If you subscribed insurance to ensure the stability of your family in the event of invalidity not only reduces the level of income, but it will increase and many expenses, family situation can be worse if there is a disability than in the case of a death (adequacy of housing, car, care, specialists, and a long etc)."

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