most people do not like to think about it, but parents should definitely do it: how do I secure my family if I or a family member becomes seriously ill, has an accident or even dies?
Be very concerned about the risks that exist in your life and the kind of insurance that can best secure them. It is obvious: Parents need comprehensive insurance protection. The insurance market offers a variety of ways to hedge you and your family through a variety of policies against the adversities of life. Not all offers make sense, and even among the basically meaningful offers there is a wide range of tariff and performance differences.
Before taking out insurance, it's always important to consider exactly what risk you want to cover. Which claim would be the financial ruin for you? Read the fine print. Compare the seemingly same offers from different providers. Otherwise you run the risk of overpaying and in the worst case, not getting enough performance for it.
Which insurance is absolutely necessary?One of the really necessary insurance companies is, of course, the health insurance . Employees are automatically insured in the statutory health insurance (GKV). Family members without their own income are co-insured by the earning spouse or the father without further contributions. The contributions between the different funds vary greatly. Check whether a change to a cheaper health insurance is worthwhile. For example under health insurance info.
Anyone who earns more than the income threshold of 47. 250, 00 Euro per year (as of 2013) can switch to private health insurance (PKV). Caution: In the PKV each family member must be insured individually. For families, the private health insurance is therefore usually more expensive than the GKV.
A Personal Liability can save you from financial ruin. For compensation claims of others, caused by your misconduct, that of your children or an accident, can go into the millions. Children are insured during the training and until they earn their own money in the liability insurance of their parents.
The insurance usually also has to pay for any damage caused to children while they are under adult supervision. So if you take care of your own or your neighbor's children badly and violate his duty to supervise, you can rely on his personal liability insurance, if something happens.Until the age of 7, children are deemed to be unfit for trial. Here, the insurance does not jump in, but parents do not usually have to be afraid to pay for the damage caused by small children.
If the main earner failsSome experts also include term life insurance as well as occupational disability insurance among the necessary insurances. For young families, who have only one main earner, a term life insurance is indispensable. In the worst case, the survivors can thus close the pension gap and maintain their standard of living or prevent a drastic decline in income. The sum insured, ie the amount paid out in the event of an emergency, should secure about four to five times the annual income.
Death protection in the form of term life insurance is also relatively inexpensive. Securing 150,000 euros for a 35-year-old family man (non-smoker) costs a good insurer 200 euros a year.
A occupational disability insurance protects you from being penniless in the event of sickness or accident-related retirement. This fate also affects many younger workers: more than 12 percent of disability pensions are paid to people under the age of 39. The state hardly helps with disability. When you take out occupational disability insurance, keep in mind how much your pension will be - often less than € 800, which is of course not enough to feed a family.
The sooner you take care of such protection, the easier it will be to find suitable and affordable insurance. The contributions differ with regard to the age and occupational group of the insured: Young people in ""non-hazardous"" occupations pay less than older workers in occupations such as bricklayer or innkeeper. As a rule of thumb, the agreed pension amount should roughly correspond to the current net salary. For a monthly pension of 1500 euros, a 30-year-old employee currently has to pay approximately 700 euros a year for a cheap insurance.
What other risks should I hedge?Some experts recommend taking out a Child Disability Insurance . The disability insurance pays a pension if the insured child is disabled, regardless of whether the illness or accident was the cause. If, as an adult, your child is unable to provide their own income, it is financially secure.
A Home Insurance may make sense as the value of your home inventory increases. This is usually the case for growing families, who are also expanding in size and are gradually expanding their household through higher-value acquisitions. Consider whether it may be necessary to secure their possession against risks such as theft and fire through home contents insurance.
This article contains only information about Insurance for Families in Germany . For more information about Austria visit our articles insurance for families in Switzerland or insurance for families in Austria.