16 Insurance for start-ups: Protection against risks

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Those who are self-employed must also take care of their own security. You are spoiled for choice between the legal security systems or private provision. How should one decide?

16 Insurance for start-ups: Protection against risks

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Simone Janson Simone JansonSimone Janson is publisherConsultant and head of the Institute's job pictures Yourweb.


Why insurance at all?

Because they are useful. For example, those that minimize your liability risk - or the loss of earnings due to illness. An independent financial adviser can help you find the right insurance for you. Unless he is really independent!

If you have taken care of social security, however, you are far from being covered: There are also a number of company insurances that you should think about if you want to be fully covered. You are spoiled for choice when it comes to health insurance as well as old-age provision and unemployment insurance. An overview:

1. Statutory health insurance

Self-employed have to take out health insurance. But you have the choice: you can insure yourself either privately or voluntarily. What is more favorable for you depends, among other things, on age, gender and family planning.

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Anyone who has previously been in the statutory health and long-term care insurance can stay there. He pays a fixed percentage of his income, but has a number of benefits, such as family or sickness benefits for longer illness.

In addition, a reduced contribution payment is possible if you earn below certain income limits or are only self-employed as a self-employed person.

Fine are workers who only work independently as a side job: As long as they do not earn more than in their main job, their income has no impact on the insurance contributions.

2. Private health insurance

You should think twice about choosing a private health insurance (PKV). Basically, a later change to the statutory health insurance (SHI) is not possible.

As a young entrepreneur, you pay significantly lower contributions in the private sector with a better hedge, but a large family can later cause considerable additional costs. You should also consider the reimbursement of medical expenses in the form of health care.

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Whoever has not been previously insured under statutory health insurance or has never been legally insured, has to insure himself privately.

3. care insurance

A supplementary component of the social security is the long-term care insurance. If need be, people in need of care are financially supported in home or in-patient care. The long-term care insurance is obligatory, whether you are a voluntary member in the statutory health insurance or have privately insured.

If you look at your situation today, the topic of self-care is still a long way off for most. The self-employed in particular have so much to consider - managing the company successfully, reducing economic dependencies, work-life balance, investing your own money and retirement plans ...

What happens in nursing care?

However, if you have experienced in your family or circle of acquaintances, what happens when someone is permanently dependent on help, you certainly know the financial consequences of a need for care. Then you know the problem of being an adult child, just in the middle of the construction, in addition to the whole psychological burden also have to jump in financially when parents need care.

Since their own plans can be involuntarily thrown over the heap. To ensure that your children do not do this, a timely protection is necessary.

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Statutory long-term care insurance

Statutory long-term care insurance is mandatory for both statutory and private health insurers. Money from the long-term care insurance is paid to an insured person if he has been classified into one of the three care classes.

The classification is made by the medical service and depends on how much help someone needs in performing daily life. It takes into account support for domestic matters and support for basic care. Under basic care is understood to help with dressing and undressing, eating and body care.

By the way, the benefits of long-term care insurance have only been increased once since its introduction in 1995. So you can not speak of inflation.

Private provision

But be careful: the payments of the long-term care insurance are usually not enough if one becomes a nursing accident by illness or accident. Whoever has to protect a family should conclude a private supplementary care insurance.

A further possibility to provide for the care case is the building up of assets. Your company is, for example, a value. No matter how your private assets are invested, whether it is pension insurance, capital life insurance or equity:

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If you become a carer, you must be able to liquidate and use your assets. Perhaps it is so big that you do not have to use it, but the income is enough to fill the gap between life support in the care case and the benefits of your statutory pension and statutory long-term care insurance.

A fortune can be consumed

If so: Congratulations, this topic is done for you. Keep in mind, however, that even a high liquid assets could be consumed by special circumstances, such as house renovations, high self-sustaining medical expenses, etc.

In most cases, a sufficient fortune, especially in a young age, does not yet exist. Securing the workforce for the company, perhaps a separate property and the founding of a family, have often tied up their assets temporarily. You can then insure the risk of your own care only by means of insurance, just as for the disability.

4. pension Insurance

As a self-employed person, you are usually not required to be insured, ie you must take care of your old age provision. However, there are some exceptions for some professional groups.

Everyone else can take out voluntary insurance and choose their own contributions. In the first five years after the foundation, you have the opportunity to acquire Riester funding through compulsory insurance. Of course it can Sense make voluntary contributions to the statutory security systems, but whether this is really worthwhile must be checked in each individual case.

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5. unemployment insurance

The risk of unemployment should be considered in your fee determination. Recently, however, as a business start-up you have the opportunity to voluntarily insure yourself against unemployment if you have previously paid into the state unemployment insurance - in the form of a fixed monthly contribution.

Condition: They must also have been in the state unemployment insurance before the foundation. Private unemployment insurance, on the other hand, is generally not worthwhile. This possibility is therefore not applicable for academics who were not covered by social insurance during their studies.

6. The start-up grant

Do you remember the I-AG? It soon fell into disrepute, that the federal government decided to abolish this foundation. Meanwhile, there are new funding instruments instead of I-AG and bridging money.

The start-up grant is an amount equal to your most recently received unemployment benefit I for a living. He is granted for nine months. In addition, during this time, you will receive a supplement of 300 Euro / month for social security. If the Employment Agency renews your application once more after nine months, only the supplement of 300 Euro / month for the social security will be paid for a further six months, but no longer the amount corresponding to the last unemployment benefit I.

7. Einstiegsgeld

Who gets unemployment benefit II (Hartz IV) can also be funded - with the entrance fee. The purpose of the entry fee is not, however, to promote self-employment. It is intended to help recipients of ALG II take the step out of long-term unemployment into self-employment. The entry fee is paid in addition to the unemployment benefit II. Crucial for a successful application is to personally convince the case manager that the entry fee will help us to permanently terminate unemployment.

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8. Supplementary unemployment benefit II

Anyone who is already self-employed but does not earn enough to live can receive supplementary unemployment benefit II in the amount of the normal ALG II rate. It can only be roughly said how much is “not enough”: the exact value depends, among other things, on the actual rental and heating costs and the personal allowances. As a guideline, the income limit below which self-employed persons can receive supplementary Alg II is around 950 euros for single people in the west, and around 1.600 euros for a couple with a child in the east.

However, applicants may have very little assets in the bank. All income will also be counted towards the unemployment benefit. Even if the life partner earns too much, you usually get nothing. And only those who prove that this money possesses the chance to somehow reap reasonably reasonable self-employment money, are largely exempt from the obligations of normal ALG II recipients.

9. Private retirement provision

Private old-age provision is usually more lucrative than state pension insurance. Private pension insurance promises security, but only yields meager returns and costs high fees.

Experts therefore recommend investing in funds, preferably in fee-saving fund savings plans. Of course, this is not free of risk.

10. Disability insurance

It is considered one of the most sensible hedges. This is because the state's disability pension, which is due when a pensioner can no longer work before the age of retirement, hardly covers the risk.

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The amount of contributions varies greatly and depends on the age of the insured and the agreed benefits. Critical in private disability insurance is the abstract reference. If it is in the contract, the insurance company checks whether the employer could not nevertheless perform a related activity in the event of an unfitness to work, regardless of whether there are any corresponding jobs at all.

11. Alternatives to occupational disability insurance

Often the insurance companies also exclude previous illnesses from the insurance.

Those who do not get good disability protection therefore have other options: Dread Disease insurance against individual serious illnesses, basic skills insurance or private disability insurance.

12. accident insurance

On the other hand, private accident insurance only pays for accidents - worldwide and at low premiums - but, statistically speaking, illnesses occur much more often than accidents.

The professional association, in which the self-employed can also voluntarily insure themselves (caution: some are compulsory to be insured!) Pays for occupational diseases, but their catalog is very limited.

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13. Liability insurance

Business liability insurance covers losses that occur to others in the course of business operations - for example, if someone injures themselves in their own offices. For real financial losses (the work is not finished in time and the customer has financial losses) there is the financial loss liability.

In addition to property damage and personal injury due to faulty products, product liability also covers property damage. For certain occupations, eg lawyers or asset advisors, a professional obligation is even compulsory. And sometimes professional and private liability insurance can be combined favorably.

14. Legal expenses insurance

Legal protection is relatively dispensable. Namely, he does not assume any claims for damages or preventive legal advice.

For this, expensive and unnecessary services usually have to be paid for. A cheap alternative for the self-employed can be legal advice and protection through a professional association.

15. Other insurance companies

Operating cost, business interruption or bad debt insurance is only worthwhile for larger companies. It can make sense to hedge corporate investments.

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Expensive special insurance, for example against glass breakage, storms or fire, is usually not profitable. Rather, one should take out comprehensive insurance for the most likely risks.

16. Advice and assistance in choosing the right insurance

Choosing the right private insurance is complicated. It is therefore advisable to consult independently. But be cautious in the case of free online comparisons or the advice of a broker: often the amount of commissions in the recommendations play an important role here. Better are independent, neutral insurance advisors. These may only be mentioned if they have a corresponding judicial authorization prohibiting any mediation. Unfortunately the advice is also very expensive. A cheap alternative is therefore the pay tables of the consumer centers or the tests of the Stiftung Warentest.

If you want to inform yourself about customer satisfaction with your insurance in advance, you should take a look at the complaints authorities of the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin). In case of a dispute with the insurance company, you can also contact an insurance ombudsman. His insurances are accepted by most insurers.

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