There are certain professionals who often require very specific insurance. This is the case, for example, with architects, lawyers, engineers, The Civil Liability insurance for the self-employed. The same applies to the dentists and health professionals but, In addition, your hands are vital to your professional performance. Today we explain the “hands insurance”.” and what policies are essential for them to be well protected.
What is hand insurance?
This insurance is based on accident insurance. It allows the insured to be compensated when he/she suffers any kind of accident:
Partial permanent disability
Total or absolute permanent incapacity (depending on the insurance taken out).
We are talking, for example, about a permanent immobilisation of a hand or finger. The way accident insurance works is that if you have €300,000 of capital sum insured and the finger is a % of disability of 10%, you would be paid €30,000.
The peculiarity of hand insurance for the health professions is that there are companies that apply a “no-claims" policy.“IMPROVED SCALE”.
This means that if the finger we are no longer able to use is the thumb of your good hand, you can be given 100% of the sum insured (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 the health professionals, They depend entirely on their hands to carry out their daily work, especially dentists and orthodontists.
We must remember that a life insurance will never cover partial incapacity. It may cover us for 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 know.
What is the accident insurance scale?
In an accident insurance such as hand insurance, the scale determines what compensation will be paid to the injured party.
Depending on the damage suffered, e.g. losing the thumb of a hand, a percentage of the sum insured (€300,000 of cover for example) is paid out.
In fact, some companies call “health scale”.” to that scale improved, The majority of these professionals are insured in this way.
What this health scale does is to significantly increase our compensation in the event of an accident.
Let us compare the normal scale with the health scale. from 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 considerable. That is why we always recommend that in health professions the improved scale should be used, because in case of an accident the compensation is much higher. In the example of the thumb from before: 300.000 € against 60.000 €. Nothing to see.
Why is hand insurance useful?
There are 3 reasons that make this insurance very interesting:
Ensuring high capital in the event of disability (or even death), in the event of any kind of accident. Coverage can also be provided for sports accidents: skiing, for example.
It is the only way to covering partial incapacity
If you are self-employed, you will also be able to pay the annual premium personal income tax deductions, 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 specialised insurance company in hand insurance and, in addition, we will not only look for 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.
