Jövedelembiztosítás

Jövedelembiztosítás translates to income protection insurance in English. It is a type of insurance designed to replace a portion of an individual's income if they are unable to work due to illness or injury. This coverage is particularly important for those who rely on their earnings to meet their financial obligations and do not have substantial savings or other income sources.

The policy typically pays out a percentage of the insured's usual income, often after a waiting period known as the deferred period. This deferred period can vary significantly between policies, with longer periods usually resulting in lower premiums. The benefit period, which is the maximum length of time benefits can be received, also varies, and can be a set number of years or until a certain age.

Jövedelembiztosítás can be purchased individually or through an employer. It is distinct from life insurance, which pays a lump sum upon death, and disability insurance, which may cover only total inability to work in any capacity. Income protection insurance is generally focused on replacing income lost due to being unable to perform one's own occupation. The premiums are influenced by factors such as age, health status, occupation, and the level of coverage chosen. It serves as a financial safety net, helping individuals maintain their standard of living during periods of incapacity.