Biometric risk

The mortality risk depends heavily on the age of the insured person

In insurance, a biometric risk refers to an insurable risk that affects the life and / or livelihood of the insured person (s). These insurances are a sub-group of personal insurances , with the exception of private accident insurance , which is one of the composite insurances .

The term comes from the fact that, in addition to measuring the human body, biometrics also deal with human life expectancy . In the insurance industry, this is expanded to include statistical evaluations relating to the occurrence of occupational disability, incapacity for work, certain illnesses, accidents or the need for care.

Biometric risks depend largely on the age of the insured person, but also on their job , for example .

Insurable risks

Biometric insurance products form a subset of life insurance products . The insurable biometric risks and the typical insurance policies that cover them include:

• Death during the insurance period (term life insurance )
  • Accidental death (as additional insurance)
• Longevity ( pension insurance )
• Disability risks, including:
  • Occupational disability ( occupational disability insurance )
  • Inability to work ( disability insurance )
  • (firmly defined) serious illnesses ( dread disease insurance )
  • Accident ( private accident insurance in addition to statutory accident insurance , which is geared towards accidents at work)
  • Dependency ( private supplementary long-term care insurance in addition to long-term care insurance , which only covers part of the care costs)

Often, several biometric risks can be combined in one insurance, for example as term life insurance with supplementary occupational disability insurance (RLV with BUZ). In the event of a benefit , an agreed sum insured can be paid out or the benefit can consist of pension payments (e.g. BU pension, nursing pension).

Calculation bases

Graphic representation of the 2008/10 life table of the Federal Statistical Office

The actuarial recorded for accounting principles , a number of factors that biometric in the statistical estimation of risks and thus (in addition to risk assessment and entry age included in the contributions to be paid, insured amount and maturity). These are typically: occupation, height and weight, smoker / non-smoker, gender, previous illnesses, high-risk sports and other activities. With the mandatory introduction of unisex tariffs , the gender factor has been eliminated in the countries concerned; the different risk is then passed on to the opposite sex.

Mortality tables are used to assess the risk of death and survival .

See also

• Life insurance (Germany)

Individual evidence

1. ↑ WorkSurance - Experts in Workforce Protection. Accessed April 11, 2020 (German). 
2. ↑ Insured person 's know-how: What actually is a “biometric risk”?

Web links

• procontra: Biometric Risks (PDF, 2010)