Insurance Options For Entrepreneurs

Entrepreneurs are not automatically covered for income loss due to illness or injury,
making it essential to consider various insurance options.

More Information

Overview

As an entrepreneur, protecting your income is vital. Without employer-provided insurance, self-employed individuals must consider personal coverage options, such as disability insurance (AOV) or alternatives like Broodfonds, to safeguard against potential income loss. TaxiTax can help you explore these options based on your specific needs.
Insurance Options:

  1. Disability Insurance (AOV): Disability insurance provides income support if illness or injury prevents you from working. Monthly premiums vary by age, coverage, and desired income protection. For a taxi driver with an annual income of €40,000, premiums can range between €200 and €400 per month.
  2. Broodfonds: An alternative to AOV, Broodfonds is a collective support fund where groups of entrepreneurs contribute monthly. If a member cannot work due to illness, the fund provides income support for up to two years. Monthly contributions are generally lower, between €50 and €100, but long-term coverage is limited.
  3. Risks of Working Uninsured: Without insurance, long-term illness or injury may require using personal savings to cover expenses. For those without significant savings, financial strain can be severe, especially if no other income source is available. TaxiTax offers guidance on choosing the right insurance based on your financial situation and risk tolerance.