Student disability insurance offers numerous benefits that make early protection particularly attractive:
Affordable Premiums
The most significant advantage of student disability insurance is the comparatively low premiums:
- The younger and healthier at sign-up, the cheaper the rate.
- The favorable conditions remain for the entire contract duration.
- For a 16-year-old student, disability insurance costs on average $50 to $60 per month.
Long-term Financial Security
Early protection offers comprehensive coverage:
- In case of school incapacity, the insurance pays a monthly benefit, often up to $1,500.
- Coverage applies worldwide and around the clock - at school, on vacation, and during leisure time.
- In case of permanent disability, the insurance secures an income when one cannot earn their own.
Flexibility and Adjustment Options
Student disability insurance policies often offer special flexibility:
- Extensive increase options without renewed health checks, e.g., upon graduation or start of vocational training.
- Possibility to reduce contributions when entering high school or starting vocational training (upgrade option).
- The favorable classification remains, regardless of the profession chosen later.
Simplified Health Check
Young policyholders often benefit from easier conditions:
- Simplified risk assessment for students, especially under 15 years old.
- Higher chances of insurance coverage without surcharges or exclusions.
Insufficient State Protection
Private provision is important because:
- Affected families usually do not receive state support.
- Statutory accident insurance only covers school accidents.
- Any potential state disability pension is very low.
Family Protection
Student disability insurance relieves the entire family:
- Financial security if parents need to reduce working hours.
- Coverage of additional costs for treatments or tutoring.
Conclusion
Disability insurance for students offers comprehensive protection at favorable rates. It not only secures the child's financial future but also relieves the entire family in case of emergency. The flexibility and simplified health check make early enrollment particularly attractive. Parents should seriously consider this provision option to give their children an optimal start into professional life.