The best disability insurance in the M&M verdict

May 4, 2022 – In its new edition of “M&M Ratings Occupational Disability” released Wednesday, analytics company Morgen & Morgen rated 571 rates from nearly five dozen providers. More than three quarters of the offers received the maximum rating of “five stars”.

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Following the new rating requirements for disability insurance (VersicherungsJournal April 7, 2022) and basic capacity insurance (April 21, 2022), Morgen & Morgen GmbH (M&M) also presented an update to its “M&M Rating Occupational Disability” on Wednesday. 571 rates and rate combinations from nearly five dozen providers were considered.

stable market

According to analysts, the work disability insurance market (UB) remains stable. A total of around 271,000 (previous years: 267,000, 260,000; May 14, 2020) BU insurance policies are currently in the enforcement phase.

The analysis company placed the volume of BU pensions paid at about 2,300 (2,200, about two) billion euros. For comparison: Seven years ago, 250,000 paid BU pensions with more than 1.7 billion euros were appointed (April 16, 2015).

As part of the rating’s 27th year release, the analytics firm also announced that new business increased 0.4 percent in 2021 (prior years: 1.8, 2.5 percent). Contributions received increased by 3.3 (3.5) percent.

Methodological notes

After an extensive review of the rating system three years ago (April 25, 2019), things were much calmer at this level. According to the company, the benchmarks of the “balance sheet” and “Solvency II” components in the BU price stability sub-rating were adjusted to the current situation.

In the case of BU competition, the BU acceptance rate is only measured in relation to the rates with BU pension benefits and the period considered is extended to three years. A performance question has been added to the conditions, which is said to be about the degree of disability.

The rating is based on four sub-ratings. Conditions (29 performance questions) still carry 40 percent weight in the overall assessment. In addition to contribution stability (20 percent weight), other components are application questions (10 percent) and BU proficiency (30 percent).

More details can be found in the qualification documentation (PDF, 11.5 MB). This also explains why the insurance company is evaluated in terms of competition and quote stability, and the respective rate in terms of conditions and application issues.

More than three out of four offers with the highest rating

The rating takes tomorrow and tomorrow in the form of stars. Five stars means “excellent” rating, four stars “very good”, three stars “average”, two stars “poor” and one star “very poor”. The overall assessment cannot be better than the result of the BU subqualification conditions.

The analysis company has currently examined 571 (previous years: 566, 525, 519, 518, 524, 571) rates from 58 (63, 66, 67, 70, 69, 74) insurance companies according to the evaluation scheme previous. The highest rating of “five stars” was given to more than three out of four products.

Rating distribution (Image: Wichtert)

About every 15 (more than every tenth) offer was rated “four stars”, about every ninth (eighth) with “three stars”. Approximately one in 24 (18) offers was “(very) weak”. However, it must be taken into account that the latter are usually reduced fare variants.

51 product providers with at least a five-star rating

A total of 51 product providers received a five-star rating for at least one fee. This group includes:

  • AKS Flex Swiss Life (IG BCE Bonus Insurance GmbH),
  • Allianz Lebensversicherungs AG,
  • Former Leipziger Lebensversicherung AG,
  • Axa Life Insurance AG,
  • Barmenia Lebensversicherung AG,
  • Basler Lebensversicherung AG,
  • Bayern-Versicherung Lebensversicherung AG,
  • BL the Bayerische Lebensversicherung AG,
  • Concordia Oeco Lebensversicherungs-AG,
  • Condor Lebensversicherungs AG,
  • Continentale Lebensversicherung AG,
  • life insurance cosmos ag,
  • DBV German Civil Service Life Insurance, branch of Axa Life Insurance AG,
  • Debeka Lebensversicherungs-Verein AG,
  • german health insurance ag,
  • DEVK general life insurance company,
  • DEVK Deutsche Eisenbahn Versicherung Lebensversicherungs-Verein aG,
  • dialog Life Insurance Company,
  • ergo pension life insurance AG,
  • Europe Lebensversicherung AG,
  • Generali Deutschland Lebensversicherung AG,
  • Gothaer Lebensversicherung AG,
  • Hannoversche Lebensversicherung AG,
  • Hansemerkur Life Insurance AG,
  • hdi Ag Life Insurance,
  • Helvetia Switzerland Life Insurance Ltd,
  • huk24ag,
  • Huk-Coburg-Lebensversicherung AG,
  • inter Ag Life Insurance,
  • Interrisk Lebensversicherungs-AG Vienna Insurance Group,
  • Klinikrente Vermögenswerk GmbH (Swiss life),
  • Life insurance from 1871 aG Munich (LV 1871),
  • Metallrente GmbH (Swiss life),
  • Life Insurance Association of the Munich Association AG,
  • Nürnberger Lebensversicherung AG,
  • public life insurance Braunschweig,
  • Provincial life insurance Hannover (VGH),
  • Northwest Provincial Life Insurance Ag,
  • Provincial Rhineland Life Insurance AG,
  • R+V AG life insurance,
  • Signal Iduna Life Insurance AG,
  • Standard Life Versicherung, German branch of Standard Life International DAC,
  • Stuttgarter Lebensversicherung AG,
  • SV Sparkassenversicherung Lebensversicherung AG,
  • Swiss Life AG, branch for Germany,
  • universal life insurance ag,
  • Volkswohl Bund Lebensversicherung AG,
  • Insurers in the Kirchen Lebensversicherung AG (VRK) area,
  • VPV Life Insurance Company,
  • Wurttembergische Lebensversicherung AG,
  • Zurich Deutscher Herold Lebensversicherung AG.

The VRK is new to this group. The full list of results can be viewed on this website.

M&M on current market development

Regarding the development of the market, analysts reported that the part-time clause in particular was becoming more and more popular. “While in 2021 there were only 14 companies, today there are 27 insurers that anchor the issue in their conditions.

Post-insurance is experiencing a huge boost today. find here [sich] increasing differentiation in terms of age limits, maximum pension amounts, qualifying events for retroactive insurance, and whether only health screening is waived for retroactive insurance or full risk assessment,” Explain.

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