Attention newcomers to the job market: When you start your first job, you should take out your own personal liability insurance. After you have completed your training or studies, you will no longer be covered by your parents’ liability insurance. Zurich Insurance points this out. You should also consider occupational disability insurance as early as possible. Once you have a basic livelihood, you can gradually expand your insurance coverage as needed, e.g. through a company pension, household contents and accident insurance.
Personal liability insurance
Even if you have a small budget, basic insurance is essential: private liability insurance, for example, protects you against claims for damages. While students and trainees could still be covered by their parents’ private liability insurance in the form of family insurance, this option unfortunately ends when you start working. There is a one-year transition phase after you finish your studies or training, during which you can, for example, look for a job. However, you will need your own contract when you start a job.
Occupational disability insurance
Occupational disability insurance is particularly important for those starting out in their careers, as it protects their own ability to work. At the beginning of a career in particular, there is usually no statutory insurance. In the event of illness or an accident that leads to permanent or temporary occupational disability, occupational disability insurance ensures that income is secured. This is particularly important, as young people often do not have large reserves and can quickly find themselves in financial difficulties without this insurance. The insurance therefore offers absolutely essential financial security in the event of an emergency.
Company pension scheme
Company pension schemes allow employees to pay part of their salary into a pension insurance scheme free of tax and social security contributions. “Especially in the current ‘war for talent’, many employers are also prepared to invest an additional contribution in their employees’ company pension schemes, which makes this an extremely attractive option for building up a solid retirement provision,” says Isabel Spies, company pension specialist at Zurich Insurance. By starting early, young professionals can build up a considerable cushion for retirement over the years.
{“ad-657878”:{“id”:657878},”ad-657879″:{“id”:657879},”ad-657880″:{“id”:657880}}
