After the ERGO product update, broker Tobias Bierl has a lot to complain about in BU insurance. In particular, the protection for students contains a big shortcoming.
So far, the Ergo for insurance brokers is not one of the first addresses on the market when it comes to occupational disability insurance. As with many other providers, an update with some innovations came in the middle of the year. Is this enough for a general recommendation? –
Shortening of the application issues for mental illnesses
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The Ergo was one of the last brokerers who asked ten years about mental illnesses (now only the Condor and Continentale are to be mentioned). Most recently, the Volkswohl Bund had reduced the query period to five years. The ergo now follows up here.
Nevertheless, I have to continue to criticize the question, as it is put openly: “Existing or passing in the past five years – diseases, disorders or complaints of the psyche – or have you been examined, advised or treated by doctors or psychotherapists in the past five years?”
Problem: All diseases, disorders or symptoms of the psyche must be given, even if you were not at the doctor or therapist because of that. I personally consider this question to be very dangerous and wanted a little more customer friendliness here. Other insurers on the market limit the question of three months. This period is manageable.
Increasing the hedging sums among pupils and students
Many providers on the market now allow 1,500 euros for students and 2,000 euros for students in monthly BU pension. The Ergo now also followed up to this value. This is understandable, because inflation and the associated loss of purchasing power have pulled the effective value of the maximum BU pensions back down.
However, the profession that was then carried out must be reported when they start their career. The advantage of securing the professional classification as a student is therefore lost. In the course of this, there is also an increase from 15,000 euros to 18,000 euros of the adequacy test when the application was applied. Intermediaries should currently avoid the ERGO student BU, as there are much more customer-friendly solutions on the market.
Resolution of the Care plant is credited
ERGO is particularly pushing into the market with its DANV brand (German lawyer and notary insurance). It is all the more incomprehensible that the pension plant was counted from an annual BU pension of 30,000 euros. Now there is an increase to 42,000 euros.
In the market comparison, however, this is still comparatively little. Many insurers only expect from 50,000 euros, the Canada Life even only from 60,000 euros. Baloise has completely dispensed with Ogar since the beginning of the year. The ERGO shows a first improvement here without shining.
Introduction of a part -time clause
Fortunately, the Ergo has taken on the trend and introduces a part -time clause in its conditions. In the event of a performance, it is checked whether the part -time job in its specific design can be practiced three hours per working day. Certainly the part -time clause, for which the design is not yet available, is just a first draft. If you ask three agents about the part -time clause, there will be three opinions.
More smaller innovations
- Improved reorganization in the self -employed. The previous reorganization aid for renewed BU for the same medical ground is only counted within six months instead of a year.
- DanV insured persons benefit from a simplified acknowledgment if the professional pension scheme should provide a complete BU pension.
- The title “Specialist’s Record” achieved is now a reason for reinsurance, as well as only for DanV customers.
- Clarification for medical professions in the ban on activity.
My conclusion
I see small improvements, which in my eyes are not enough to bring the ergo into the top class. Some innovations were bitterly necessary and shorten the distance to the top. But in particular for young people, I do not see the Ergo as a suitable solution. The Düsseldorfers continue to stand out primarily due to very cheap prices. For the very price-sensitive customer, Ergo can be an alternative if you consider a solid BU insurance to be sufficient.
About the author:
Tobias Bierl was born in 1984. As a trained insurance specialist and financial investment specialist, he and his brother founded the Bierl financial consultancy in Walderbach in the Upper Palatinate in 2008. As one of the managing directors, his focus is on biometry / occupational disability insurance. In 2019, Bierl won the OMGV broker Award for the best blog / content on the homepage and 2021 for the best customer reviews.
