What are entrepreneurs’ mandatory insurances?
Entrepreneurs must take care of insuring both themselves and their employees. The most important entrepreneur’s insurance is the self-employed persons’ pension insurance (YEL), which is mandatory for almost all entrepreneurs and enables you to secure your income in different life situations. Keep your the earned income of your YEL insurance up to date, because it is used as the basis for calculating, for example, your daily allowance if you fall ill.
If your company has employees, mandatory insurances include the employee pension insurance (TyEL), the statutory occupational accident and occupational disease insurance and the employees’ group life insurance. The employer also pays employees' unemployment insurance premiums.
Prepare for work and leisure-time accidents
Prevention is the best way to reduce accidents, but all sorts of things may happen at work and during leisure-time. The self-employed persons’ accident insurance covers all accidents and occupational diseases that occur at work. The insurance covers your medical treatment expenses and provides you with income security, allowing you to focus on your recovery. The self-employed persons’ accident insurance and compensation and benefits paid are based on the Occupational Accidents, Injuries and Diseases Act.
The occupational accidents and occupational diseases insurance covers your employees and is also based on the Occupational Accidents, Injuries and Diseases Act. Employee group life insurance premiums are charged in connection with the occupational accidents and occupational diseases insurance. You can extend both the entrepreneur’s and the employees’ insurances to also cover accidents that happen during leisure-time.
Supplement your insurance cover with other entrepreneur’s insurances
With the help of other entrepreneur’s insurances you can prepare for, for example, diseases or disability. This preparation is particularly important, because falling ill or having an accident always affect the company and its operations. Insurances enable, for example, quick access to treatment, which supports fast recovery and return to work.
- Health insurance is a medical expenses insurance, which supplements the cover provided by the self-employed persons’ accident insurance and covers examination and treatment expenses of illnesses and injuries. With it you can make sure that you will receive good care quickly if you fall ill. Our doctor partners invoice the coverable expenses directly from us.
- Corporate travel cover is a useful corporate insurance if you travel for business in Finland or abroad. The insurance can be modified to meet your needs and it covers expenses, such as expenses caused by a cancellation.
- Disability insurance provides you compensation if you become permanently disabled due to an illness or accident. Daily allowance for temporary disability can also be paid under the insurance. This entrepreneur’s insurance provides financial security in a changed situation.
- Critical illness insurance provides financial cover if you fall critically ill or get seriously injured. A tax-free lump sum compensation of up to EUR 100,000 selected by you is paid based on the insurance immediately after the diagnosis is complete. The critical illness insurance covers 11 serious illness that are common in Finland, serious injury caused by an accident or death caused by a covered illness or accident.
- Life insurance supplements the statutory cover and helps your loved ones and company cope in a crisis situation. Life insurance may also act as side collateral for your corporate loans.
An entrepreneur also often needs corporate insurances
If your company owns, for example, motor vehicles, real estate or any other property, you will need other corporate insurances in addition to your entrepreneur’s insurances. In addition to individual insurances, we also provide insurance packages that include the necessary insurances to secure your company’s moveable property and the continuity of its operations.