Income protection

What if you are a self-employed person who is unable to work due to sickness or an accident?

If you are completely unable to work, you will of course receive social security compensation. After a 14-day qualifying period you are entitled to:

• As a single person: €46.96 per day or €1,220.96 per month
• As the head of a family: € 58.68 per day or € 1,525.68 per month

Those sums are not exactly generous, so you had better provide additional annuity yourself.

Income protection insurance provides a monthly annuity set by you in case of disability. This way, you don't have to worry about your income if you are unable to work for reasons beyond your control. The premiums are tax deductible. This makes this type of insurance indispensable for all self-employed entrepreneurs.