16 May 2018, author: Natascha Fabian, photo: Helvetia
Many SMEs and tradespeople are only inadequately insured. If they then suffer a disability or a business failure, this can have devastating consequences or even threaten their survival.
When the self-employed or tradespeople are unable to work because of illness or an accident, there can be enormous financial consequence. If they do not want to bear that risk themselves, they should definitely take out appropriate insurance. Important: Get daily allowance cover, to be paid out in the event of accidents and illness. Helvetia also recommends loss of earnings insurance, which guarantees substitute income if their regular income ceases permanently.
The risk of being unable to work as a result of illness is disproportionately higher than in the event of an accident. However, financial security is considerably worse because compensation for loss or earnings is limited to Federal Disability Insurance (IV) and possibly the 2nd pillar (LOB), whereas the accident insurance cover provides additional benefits in the case of an accident. With a tailored pension and risk package, these gaps can be filled, business or marital partners can be insured and it is also possible to save for a pension.
In the case of a corporation or a limited company, occupational pensions are regulated by means of a pension fund. Be careful in the case of a simple partnership: The partners have to make their own retirement provision. The self-employed can pay 20% of their annual income, up to a maximum of CHF 33,840, into pillar 3a. Pillar 2 not only pays benefits in old age but also in the case of inability to work and to surviving family members in the event of death. In addition, payments can be made to columns 2 and 3a and deducted from taxable income.
Fire, water or natural forces such as flooding and inundation can also have catastrophic consequences. If the repair work takes too long, customers will switch to a competitor. To cover yourself against lengthy operational downtimes you need tailored insurance solutions. Liability claims and damage in transit can also have serious financial consequences, as can the results of a break-in. With a needs-related package solution, SMEs can insure themselves against some of the key risks of their everyday business. Relieved of this worry, they gain resources to concentrate on their core business. Some of the key elements of such a package solution include the following:
Other important additions include:
The insurance policies depend greatly on the nature of the business activities. This is why Helvetia offers a risk advisory service, enabling the optimum package solution from a single source.