Disability
Hundreds of thousands of people in the Netherlands are unable to work. It’s particularly frustrating if this happens to you. Not only because you’re likely to be less able-bodied than you would be if you were completely healthy, but especially because in most cases it also means a loss of income.
Disability insurance (AOV) provides (partial) compensation for the loss of income when you are no longer able to work (fully). This compensation can be a large lump sum, or, for example, a monthly payment until you reach a predetermined retirement age. Anyone can take out AOV. Self-employed people are particularly likely to take out this insurance, as the government doesn’t offer them social security in the event of disability.
What is covered?
Disability insurance (AOV) insures you against loss of income due to an accident or illness. AOV can (partially) compensate for the difference in income. AOV can also pay out to self-employed entrepreneurs who lose income due to pregnancy.
Keep in mind that disability insurance often has a deductible. This means that in most cases, you won’t receive benefits immediately upon becoming disabled. The longer the deductible, the greater the premium discount.
