Loss of Earnings Insurance: Who Qualifies and What You Get
Understand how self-employed individuals in Switzerland can protect their income with loss of earnings insurance during periods of illness.
Loss of earnings insurance is a private coverage option designed to provide you with income replacement if you are unable to work due to illness.
Who it's for
This coverage is specifically for self-employed individuals.
What you get
If you become ill and cannot perform your work, this insurance provides you with a replacement for your lost income for a set period.
What it costs you
You pay an annual premium to maintain your coverage. The specific cost depends on the level of protection you choose for your business.
The catch to know
Be aware of waiting periods, sometimes referred to as a "Karenzfrist." This is a set amount of time that must pass after you become ill before the insurance begins paying out. You should check your specific policy to see how long this period is.
How to apply
- Research various private insurance providers to compare different coverage levels.
- Request a quote based on your specific income and business needs.
- Review the policy details, paying close attention to waiting periods and exclusions.
- Complete the application process directly with your chosen provider.