Inability to Work Insurance
An inability to work insurance pays an agreed monthly pension upon inability to work. It is designed to replace part of your lost earnings due to illness or disability and will therefore take care of you and your family in case of an interruption in your ability to work.
If you are feeling healthy, you may not see the importance of exploring inability to work insurance at this point. Yet, planning for the possibility of disability is a good idea for everyone, because even if you are not able to work, you still have to pay your monthly bills. Savings can quickly disappear under these circumstances.
Please note that the Austrian public health system will only replace around 30% of your income in case of inability to work. Also, this benefit is only available for persons who have paid into the social insurance scheme for more than 90 months!
Only private inability to work insurance will protect you as soon as you have taken out the insurance. The compensation sum can be chosen individually.
Inability to work insurances are typically offered in two types: own occupation cover or any occupation cover
| Public insurance | Private insurance: Any occupation cover | Private insurance: Own occupation cover |
| Coverage only if the individual has paid into the social insurance scheme for more than 90 months! This means that expats will not meet the requirements in most case. | If you are unlikely to work again in any occupation, the insurance will pay out a monthly pension. However, this type of insurance will not pay out if you are able to work in a different occupation. | If you are unlikely to work again in the occupation you were predominantly performing, the insurance will pay out a monthly pension. Whether or not you could work in a different occupation is irrelevant. |
