19.8.2024 – In a product test conducted by Handelsblatt in cooperation with Franke and Bornberg, the offers from HDI, Volkswohl Bund and LV 1871 came out on top in the BU insurance sector. Dialog and Continentale were ahead in EU insurance. Baloise, Zurich, Dortmunder and Canada Life each achieved the maximum score of 100 points for GF policies.
Die Franke and Bornberg GmbH has examined insurance solutions for protecting the workforce for Handelsblatt. The results are available in the online report “These insurers are convincing when it comes to workforce protection” published.
As in the previous year (VersicherungsJournal 25.8.2024), occupational disability (BU), incapacity for work (EU) and basic ability (GF) insurance policies were put to the test. The offers were examined on the basis of three sample cases.
Three sample customers
At the time of conclusion of the contract on August 1 of this year, the policyholders are each 30 years old, non-smokers, employed and without personnel responsibility. The academic and the commercial employee’s policies end at age 67, and the tradesman’s contract ends at age 65.
The mechanical engineer does 70 percent office work and 30 percent physical work. The bank clerk does exclusively commercial work, the carpenter only does physical work. All three opt for monthly payments, secure a pension of 1,500 euros and forego dynamic contributions for all products.
Only individual contracts were taken into account. Net tariffs were not included. The tariffs listed in the report were previously rated by Franke and Bornberg as at least “satisfactory” (FF).
Three sub-ratings
The overall assessment in the Handelsblatt comparison is made up of three sub-assessments. For occupational disability insurance, the rating from Franke and Bornberg accounted for 50 percent, the premium amount 30 percent and the financial stability of the insurer 20 percent.
For employment and basic skills insurance, the rating accounted for 70 percent and the premium amount for 30 percent of the overall assessment.
HDI leads the way in BU insurance for two model customers
Among the occupational disability insurance policies, the analysts identified 20 “very good” offers for academics. At the top is the HDI Life Insurance AGwhich was the only provider to achieve the maximum number of 100 points with its tariff “SBU EGO Top/Module Benefits for Sick Leave”. The net premium is 52.16 euros and the gross premium is 69.55 euros.
Silver goes to two players who both achieved 98 points. Life Insurance from 1871 aG Munich (LV 1871) the academic pays 49.28 euros net and 74.66 euros gross for “Golden BU/Module Incapacity for Work”. Allianz Life Insurance AG For “Occupational Disability Policy Premium” it is 52.59 euros net and 68.30 euros gross.
The commercial employee has the choice between 23 “very good” products. Here too, HDI is in first place with 100 points (net premium: 63.19 euros; gross premium: 84.25 euros). It is followed in second place with 96 points each:
- Dialog Life Insurance AG (“SBU-professional|Incapacity for work module”; 54.45 euros; 81.27 euros),
- Baloise Life Insurance AG Germany (“Occupational Disability Insurance/Incapacity Protection Module”, 65.07 euros; 86.76 euros),
- Zurich German Herold Life Insurance AG (“SBU/module benefit in case of incapacity for work”; 68.35 euros; 91.13 euros) and
- Stuttgart Life Insurance aG (“BUV-Plus premium”; 69.76 Euro; 99.66 Euro).
BU protection from Volkswohl Bund and LV 1871 for craftsmen
There are 20 “very good” policies available for tradesmen. Volkswohl Bund Life Insurance aG (“SBU/Module for Incapacity for Work”; 133.90 euros; 199.85 euros) and LV 1871 (136.96 euros; 207.51 euros) top the ranking with 98 points each.
The podium also went to Ergo Pension Life Insurance AG („Ergo BU Premium“; 144,98 Euro; 219,67 Euro).
Dialog and Continentale lead in EU insurance
Among the disability insurance policies for bank clerks, the analysts identified only three “very good” offers. Of these, two achieved the maximum score of 100 points. These were the Dialog Life Insurance AG (“SEU protect”; 43.17 euros; 63.49 euros) and the Zurich German Herold Life Insurance AG (“SEU”; 46.02 euros; 61.36 euros). In addition, there is the Continentale Life Insurance AG (“PremiumEU”, 53.61 euros; 89.35 euros) with 97 points.
The carpenter can also choose between three “very good” offers. Gold went to the Continentale Life Insurance AG (“PremiumEU”; 57.00 euros; 95.00) with a whopping 100 points. Close behind, Zurich (68.77 euros, 91.70 euros) secured silver with 99 points. Dialog (68.03 euros; 100.04 euros) received bronze for 97 points.
There are no results available for the mechanical engineer.
Baloise and Zurich…
The product test also revealed 16 “very good” basic skills insurance policies for commercial employees. The top field is close together and is made up of the following:
- Baloise (“Basic Skills Insurance Silver”; 61.28 euros; 81.71 euros; 100 points),
- Zurich (“Basic Ability Protection Letter”; 61.34 euros; 81.79 euros; 100 points),
- Dortmund Life Insurance AG (“Plan D Core Protection/Module ‘The Body'”; 60.50 euros, 90.30 euros; 99 points),
- Volkswohl Bund (“EXISTENCE”; 64.25 euros; 91.78 euros; 99 points),
- Canada Life Assurance Europe plc, branch for Germany (“Premium basic ability protection”; 66.10 euros; 66.10; 99 points) and
- Nuremberg Life Insurance AG (“GF4Future Comfort”; 71.77 euros; 105.44 euros; 98 points).
…Dortmunder and Canada Life win in GF protection
The tradesman can choose between 14 “very good” offers. Here too, there was a close neck-and-neck race, with the following order:
- Dortmunder (50.77 euros; 75.78 euros; 100 points),
- Baloise (51.65 euros; 68.87 euros; 100 points),
- Canada Life (55.06 euros; 55.06 euros; 100 points),
- HDI (“EGO basic ability protection / module ‘physical activity’ / module ‘driving’”; 53.75 euros; 76.79 euros; 99 points),
- Volkswohl Bund (53.93 euros; 77.04 euros; 99 points),
- Zurich (56.08 euros; 74.78 euros; 99 points) and
- Nürnberger (61.26 euros; 89.99 euros; 98 points).
Here, too, no ranking was created for mechanical engineers.
