Work accident, much more than a few days off – The insurance blog

Work accident, much more than a few days off

In 2019, 489 died in an accident working in Spain. And more of 85.000 people currently have a permanent disability after suffering one of them. In these cases, it is very useful to have the financial support of a disability life insurance.

Not even the coronavirus has been able to stop the risk posed by work accidents. In 2020, a year in which a large part of the Spanish businesses were closed or operating at low performance, the self-employed suffered 435.300 work accidents. Of that figure , 75 were fatal , according to the Ministry of Labor.

If we expand the data to the rest of workers, in 2019 more than 650 occurred . employed by someone else. According to data from the Ministry of Social Security, the vast majority of them resulted in a few days of sick leave, but others were much more serious: 489 Dead people.

Death is the worst consequence of an accident at work. However, they can also lead to a situation a little more unknown and terrible for employees and their families: disability or disability .

What is disability or incapacity?

When they give us medical leave, they grant us a temporary disability. It is a period of time that can last a maximum of 545 days. If the accident was serious and requires us to spend more time recovering, a medical court must examine the case. If they decide that the consequences are serious enough to harm you in future jobs or in your daily life, they will establish permanent disability :

1. Partial permanent disability

When the work accident reduced a person's performance by 33%, But can still continue working . As a pension, .

2. Total permanent disability

It is determined when the affected person can no longer return to his position , although he could work in another sector that adjusts to his new conditions. In this case, the pension will be for life and will amount to 55% of the regulatory base.

3. Absolute permanent disability

This type of disability means that you can no longer work , so a life pension will be necessary for the 100% of the regulatory base.

4. Great disability

It is the most serious case. The person even needs the help of others to carry out their daily life . Therefore, the pension will be 100% and will have an extra to pay the expenses of the dependency.

Permanent disability, a painful reality

In April of this year, there were in Spain almost 950. 000 people receiving a permanent disability pension . Of that number, the majority of those affected are self-employed (more than 116. ). And, what is more striking: more than 85.

. of these pensions are paid due to an accident at work.

Suffering an accident at work is a risk at any age, although the figures say that occur more frequently to people between and 64 years . However, there are many people with younger permanent disabilities. For example, in April of 2021 there were more than 4600 people among 35 Y 39 years in that situation.

What can life insurance do in the event of a work accident?

Life insurance is not only in the event of death, but can cover many other setbacks: serious illnesses, traffic accidents … As we have already said, accidents at work can not only cause death; Disability is a very real risk suffered by thousands of Spaniards. And disability life insurance is specially designed for those cases.

In traditional life insurance, compensation is paid to the beneficiaries of the deceased. But, if disability is added, it will be the insured himself who receives the money in case of having to request disability . That is, it works as an extra to the Social Security pension, which is always very scarce.

How to calculate the capital of life insurance with disability?

Each person will need to insure a different amount of money, according to their circumstances. The insurance of a single person is not the same as that of another who has two children who want to study abroad and a mortgage. How do I know how much money to hire?

From our comparator you can do the calculation very easily. Think that, if something happens to you, your debts and expenses will go directly to your family. Therefore, you should think about what debts you have (mortgages, loans …) and how much money your family needs for day to day . From there, it only remains to decide how long you want to ensure that your loved ones do not have to worry about money.

Let's take an example:

A woman of 45 years wins 24. 000 euros per year and is the only salary in your house. Your family needs that entire amount to meet all the daily expenses. Also, you still have a mortgage of 50. euros. To protect your household finances in the event of an accident, you want to take out disability life insurance that covers family expenses for 5 years. Thus, you will need to secure 5 years of salary (20. 000 × 5 = 85. 000 euros) and add the mortgage debt; total, 150.000 euros.

If you passed away, your family would receive those 150. 000 euros to meet the expenses and pay the mortgage. And, if the accident meant that she asked for permanent disability and could not work anymore, she would receive that money herself to face her new situation.

How much does disability insurance cost?

Contracting an insurance to protect you in case of disability is very cheap . To give you an idea: the woman in the previous example could hire you for only 295 euros per year.

Check it out with your own eyes! In our comparator you can see the best offer on the market and compare the prices and coverage of the main companies. You will gain the peace of mind that your economy and that of yours will be safe, even if a work accident happens. Don't wait until it's too late: protect what you love the most.

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