With the start of training, a new phase of life begins – and suddenly questions arise that the parents previously answered. Which insurance policies are really necessary and which ones can you wait for? An orientation for career starters.
The three compulsory insurance policies for every trainee
The most important insurance policies for trainees are quickly listed: health insurance, occupational disability insurance and personal liability insurance. As can be seen from the article by the German Press Agency, the North Rhine-Westphalia consumer advice center names exactly these three insurance policies as the most important for career starters.
Trainees have no choice when it comes to health insurance – it is required by law. Once training begins, young people are no longer insured by their parents and must choose their own health insurance company. Otherwise, the employer will set up a health insurance policy for the new employee. Personal liability insurance initially works through your parents’ insurance as long as you go to school or complete vocational training. However, if this protection is no longer available, trainees will definitely need their own policy.
Occupational disability insurance: the earlier, the cheaper
Occupational disability insurance is particularly important, but often underestimated. It guarantees a monthly pension if you can no longer practice the profession you trained in due to illness or accident. Bianca Boss, head of the Association of Insured Persons, advises taking out this insurance as early as possible. The reason is obvious: the amount of the premium depends on the age and pre-existing conditions at which the insurance is taken out.
According to the consumer advice center, employees cannot rely solely on government support. The statutory disability pension is only available to everyone born after January 1, 1961 if they can no longer work at all – under certain circumstances they may also have to accept lower-paying jobs that do not correspond to their level of training. Younger people in particular benefit from favorable conditions when taking out occupational disability insurance because they have fewer pre-existing illnesses.
Other sensible safeguards depending on the situation
Anyone who drives to work in their own car cannot avoid having motor vehicle liability insurance – it is required by law. Comprehensive insurance can also make sense, especially if the vehicle is financed with a loan. With partial comprehensive insurance, the car is already protected against damage, destruction or loss, with fully comprehensive insurance even against vandalism and self-inflicted accidents.
Household contents insurance can be important for trainees who move into their own apartment. The initial equipment can easily cost several thousand euros and should be protected against fire, tap water, storms, hail, theft and vandalism. However, many other insurances are not necessary during training: additional insurance to health insurance or daily sickness benefit insurance should only be taken out once all important life risks have been covered.
Dominik Maier, editorial team at finanzen.net
