There are certain professionals who usually require very specific insurance policies. This is the case, for example, with architects, lawyers and engineers, and their Civil Liability insurance for the self-employed is decisive. The same happens with dentists and health professionals , but, additionally, their hands are vital for their professional performance. Today we explain the “hand insurance and which policies are essential for them to be well protected.
What is hand insurance?
This insurance is based on accident insurance. Thanks to it, the insured can be compensated when he/she suffers any type of accident:
- Partial permanent disability
- Total or absolute permanent disability (depending on the insurance policy taken out).
We are talking, for example, about a permanent immobilization of a hand or a finger. The way accident insurance works is that, if you have €300,000 of capital sum insured and the finger represents a disability percentage of 10%, you would be paid €30,000.
The peculiarity of hand insurance for health professions is that there are companies that apply an “ENHANCED BAR”.
This means that if the finger that you can no longer use is the thumb of your good hand, they can give you 100% of the insured capital (following the example above, 300,000 €).
Who usually takes out hand insurance?
As we say, and as we give title to this article, it is very frequent among health professionals, since they depend entirely on their hands to perform their daily work, especially dentists and orthodontists.
We must remember that life insurance will never cover a partial disability. It may cover a total permanent disability, but if we lose a finger, it will probably not be granted. This is a very important and dangerous nuance if you are not aware of it. It is a coverage gap that all dentists and medical professionals should be aware of.
What is the accident insurance schedule?
In an accident insurance such as hand insurance, the scale determines the compensation to be paid to the injured party.
Depending on the damage suffered, such as losing the thumb of a hand, a percentage of the sum insured (€300,000 of coverage, for example) is paid.
In fact, some companies call this improved scale “health scale” because most of these professionals have this type of insurance.
This health scale significantly increases our compensation in the event of an accident.
Let’s compare the normal scale with the health care scale of the specialist company we work with:
Permanent injury | Normal Scale | Health Care Scale |
|---|---|---|
| Thumb | 20% | 100% |
| Index finger | 12% | 100% |
| Total loss of vision in one eye | 25% | 80% |
And these are just a few examples… The differences are remarkable. That is why we always recommend that in health professions the improved schedule be contracted, since in case of an accident the indemnities are much higher. In the example of the thumb from before: 300,000 € versus 60,000 €. Nothing to see.
Why is hand insurance useful?
There are 3 reasons that make this insurance very interesting:
- To guarantee a high capital sum in the event of disability (or even death) in the event of any type of accident. Coverage can also be provided for sports accidents: skiing, for example.
- It is the only way to provide coverage for partial disabilities.
- If you are self-employed, you can also deduct the annual premium from your income tax, as it is an expense directly linked to your professional activity.
Do not hesitate and contact PIB Group Iberia, to inform you about the conditions. We work with the most specialized insurance company in hand insurance and, in addition, we will not only look for a partial protection, but we will also talk to you about life insurance to protect you, not only against possible accidents, but also against a possible illness.
