05.04.2024 – 08:00
Life insurance from 1871 aG
Munich (ots)
Healthy until retirement? Less than half of the population believes it. This is what the Life Insurance Financial Freedom Report 2023 from 1871 a. G. Munich (LV 1871). A current survey on World Health Day on April 7th shows: Despite awareness, only one in five people in Germany has secured their own ability to work.
Life expectancy is increasing, but the idea of being able to work for life seems to be becoming more and more of a pipe dream for many Germans. The Financial Freedom Report 2023 from LV 1871 showed that only 43.8 percent of the German population expects to remain able to work until the statutory retirement age. 18.5 percent of respondents do not believe they will be able to work until 67 due to their mental health, while 29.0 percent doubt this due to their physical health. The numbers indicate how aware working people are of the volatility of their own health and work ability.
Occupational disability – there is a great need for insurance
Against this background, the LV 1871, in collaboration with Civey, surveyed the current mood on occupational disability provision for the working population in Germany in March 2024. At 73.4 percent, it shows that the vast majority have not currently taken out occupational disability insurance. Only 21.1 percent of those surveyed stated that they currently have occupational disability insurance. 2,523 people took part in the representative online survey.
Mental health is becoming the main reason for absenteeism and occupational disability
Health insurance companies again recorded record levels of employee absenteeism in 2023. The increase in mental illnesses is worrying. Psychological problems have also been the number one reason for occupational disability among occupational disability insurers for several years. This development once again underlines the urgency of raising awareness of mental health in the workplace and raising awareness of the influence on one’s own ability to work, which often remains invisible for a long time.
Occupational disability insurance is more important than ever
“In times in which a continuous working life up to the statutory retirement age is becoming less and less realistic, insurance against occupational disability is becoming increasingly important,” says Sandra John, head of risk and performance assessment at LV 1871: “It’s pleasing that self-care and awareness for mental health continues to increase and with it the fear of talking about it decreases – especially among younger people. For us, therapy is no longer a general risk factor when taking out occupational disability insurance. As an insurer, we now give a lot of consideration to therapeutic treatment of mental illnesses in our risk assessment differentiates and thereby actually expands insurability. Because occupational disability insurance is an important building block on the path to financial independence and should be available to as many people as possible.”
Press contact:
Julia Hauptmann, press spokeswoman, 089 / 55167 – 468,
[email protected]
Original content from: Lebensversicherung von 1871 aG, transmitted by news aktuell