Työntekijän vakuutukset

Insuring an employee – what you need to keep in mind

Learn more about insuring employees as well as your company’s mandatory employee insurance policies. Please give your contact information and we will contact you.

Employers look after their employees

Employers have the obligation to ensure their employees’ safety, health and social security. Insurance policies provide you with security and expert advice for all of your business needs. 

Statutory insurance as a basis

Employers must ensure that the statutory obligations are met. The most important mandatory insurance includes pension insurance, workers' compensation insurance and employees' group life insurance. 

Anticipation by means of voluntary insurance policies

Voluntary insurance policies enable employers to provide their employees and company with additional cover. Voluntary insurance policies help to anticipate the risks applicable to the company and its employees. 

Security and expert advice in terms of personnel risk management

Competent and happy employees are the driving force behind a company’s success. It follows that managing employee-related risks, anticipation and insuring your employees are an essential part of business management and adapting to changes.

There are employee-related risks that, if realised, can significantly influence the company’s operations. If an employee suddenly becomes sick or gets injured in an accident, a knock-on effect may be the suspension of operations and extra work for the company’s management as well as the co-workers. A key employee leaving the company, on the other hand, may risk the company’s operations and development. 

Systematic personnel risk management helps to lower the costs by reducing absences due to sickness as well as occupational accidents and increasing employee satisfaction. Committed employees help to ensure that the key know-how remains in the company. 

Read more about the costs of absences due to sickness >

The mandatory employee insurance policies that all employers must take out form the basis of the employee insurance cover. The statutory contributions prepare for the employee’s pension, sickness, accidents, inability to work and unemployment. A company can improve and extend the personnel’s insurance cover by voluntary insurance policies. 

Learn more about company insurance policies by sector > 

Check out insurance for new companies >

 

Insuring employees

Employee insurance includes statutory obligations, which are often referred to as indirect labour costs visible in connection with salary payments. The employer’s indirect labour costs comprise the employee’s pension insurance contribution (TyEL) and unemployment insurance contribution, the employer’s health insurance premium as well as the workers’ compensation insurance and employees’ life insurance. The employee’s pension insurance (TyEL) is different from the YEL policy in that the latter is an essential part of a self-employed person’s pension and social security. YEL is mandatory for most self-employed persons. Learn more about the YEL insurance.

The employer’s indirect labour costs comprise the employee’s own share of the employee’s pension contribution and unemployment insurance premium.

Workers’ compensation insurance

Statutory workers’ pension insurance

Employees’ group life insurance

In addition to the mandatory employee insurance policies, your company should map, together with our expert, the other covers your company should take out to protect your employees and operations. There are several different options available, depending, for example, on your company’s line of business.

Accidents sometimes happen at all companies. One of the most popular voluntary covers is employees’ general liability insurance, which helps your company in situations where liability for damages arises from the employee’s activities. 

Learn more about the general liability insurance >

If your employees make business trips abroad, the employee’s travel insurance helps you to prepare for the risks in advance. Accidents occurring abroad may result in a lot of expenses and trouble. Travel insurance helps your employee to quickly receive knowledgeable and reliable assistance abroad.

New employee insurance policies

Hiring and insuring the first employee is a big step for any company. The salary agreed with the employee is not the only cost for the employer resulting from hiring the employee. As a rule, the various employer contributions arising from statutory obligations comprise approximately 20% of the employee’s salary. With the help of our experts, you can build an insurance cover, which ensures that your employees are insured in compliance with the legal requirements.

In the main, you can insure your summer employees in the same way as your other employees. In most cases, the employee’s age or the length of employment does not matter in terms of employee insurance.

Foreign employees are also usually insured the same way as other employees, as long as the work is performed in Finland.

The mandatory insurance includes the employment pension insurance, occupational accident and occupational disease insurance, employees' group life insurance, unemployment insurance contribution and health insurance contribution. 

Learn more about the employment pension insurance >

Learn more about the workers' compensation insurance >

Learn more about the group life insurance >

 

The workers’ compensation insurance is mandatory for employers with hired employees. It must also be taken out for company owners, partners and shareholders who work for the company and own a maximum of 30% of the company. 

Self-employed person’s and company’s mandatory insurance policies > 

The amount of the unemployment insurance contribution is determined on an annual basis. The unemployment insurance contributions are paid to the Employment Fund. Check the Employment Fund’s website for the current employer and employee payment percentages.

Popular voluntary insurance policies include the employees’ general liability insurance, employees’ travel insurance as well as the company’s medical expenses insurance Health Insurance, which helps you to ensure quality care for yourself and your employees. Learn more about self-employed person’s insurance policies. 
TyEL-vakuutus
TyEL or statutory employment pension insurance for employees
. TyEL insurance is a form of mandatory insurance for entrepreneurs.
Työtapaturmavakuutus_kahvila
Workers’ compensation insurance
Covers your employees in the event of accidents that happen at work or on the way to or from work as well as occupational diseases.
OP Työkyvyn turva
Employees' Group Life Insurance
Group Life Insurance is a life insurance policy taken out by employers for their employees on the basis of collective agreements.
The insurer is Pohjola Insurance. The losses will be covered in accordance with the law and the insurance terms and conditions. TyEL and YEL insurance is issued by Ilmarinen Mutual Pension Insurance Company.