Insurance for career starters: Which insurances are really important

Insurance for career starters: Which insurances are really important

According to a report by capital.de, career starters need to take care of their insurance early on, as the protection of many family insurance policies ends when they start their working life. One type of insurance that employees are automatically entitled to is health insurance. However, it is important to take care of your own insurance as there are differences in contributions and benefits. Experts consider private liability insurance to be indispensable as it protects against risks that threaten your existence. It is also recommended to have occupational disability insurance, which pays a monthly pension if you can no longer work due to illness. It is worth taking out these insurance policies at a young age as the premiums are then cheaper. A lower pension sum and a supplementary insurance guarantee can help keep monthly costs low. Savings and insurance combinations are not recommended as they are often expensive and non-transparent. Instead, private provision via a broadly diversified ETF is recommended. Risks that do not threaten the company's existence can remain uninsured for the time being and should instead be covered by a financial reserve. It is recommended to have at least 2,000 euros in reserve for unexpected expenses. Legal protection and additional dental insurance are examples of risks that can be covered by financial reserves. (Source: According to a report by capital.de)