The right insurance for you and your family

“We’re having a baby!” This magical moment changes the lives of parents-to-be forever. But which insurance policies are the best for keeping your family secure? Our checklist has the answers.

New events in your life, such as the birth of your first child, are a good time to start looking into suitable insurance. To make sure your whole family is well covered, you should take some time to look at the different options and plan wisely. Our Family Checklist shows you what insurance policies you should consider:

1. Cash value life insurance and life insurance

People are rather reluctant to talk about these two types of insurance. But for families especially, it's important to think about such serious, albeit unpleasant, issues as death and disability. Some key considerations are:

• Is the financial security of your family guaranteed if the main earner is no longer working?
• Do you have any plans in place for if one of you should become disabled?
• And what happens to the children if both parents die?

Both parents should think about a financial safeguard for their family’s future, even if only one parent works. Under certain circumstances, this type of insurance can also cover the cost of childcare and household expenses. And having a comprehensive pension solution makes it easier to save for the future, such as for the kids’ education.

Financing residential property

Need more room? Usually after the birth of a child, parents start wanting their own place to raise their children or simply more space to accommodate their growing family. Now is a good time to look into buying a home. If you do, make sure to compare prices and mortgage rates to decide whether investing in your own home for the long term is a better option than paying rent every month. A good place to start is with the Pillar 3a financing options available to you. This is a really great way to finance your mortgage.

2. Health insurance

Whether it’s vaccinations, checkups or an illness, your mandatory basic health insurance covers many of these expenses. Ideally, you should take out health insurance for your child before it’s born. But at the latest, your baby needs to have health insurance by the time it’s three months old. You can find out which health insurance is best for you and your child with the help of an independent health insurance comparison.

Supplemental health insurance

By taking out supplemental insurance, you can additionally insure your child during the first years of its life for:

• Accidents and emergencies abroad
• Complementary medicine
• Correction of misaligned teeth

Correcting misaligned teeth, in particular, can be very expensive – running into several thousand francs a year. It’s important to know that as soon as misaligned teeth become visible, insurers can refuse to insure your child for any such treatment. In order to avoid having to submit a medical certificate from a dentist, you should insure your child before they turn four.

On top of everything we’ve mentioned, there are many more benefits offered under supplemental health insurance. 

3. Personal liability

You turn your back for a second, and the damage is done. Little kids and accidents go hand in hand – breaking your friend’s expensive vase while they’re playing or causing some serious damage to your rented apartment. That’s why it’s important to have personal liability insurance: Now is the right time to review your coverage or take out a new policy. It's good to know that if you have family coverage, then your child is already insured through your current policy.

4. Household contents insurance

In anticipation of the birth of their child, parents generally buy the basic necessities for their new baby. They spend a good deal of money on strollers, cribs, diaper pails, space heaters – the list goes on. As your family grows, so does the amount of stuff you have in your house. For this reason, we recommend buying household contents insurance  or adjusting your current policy to reflect the increased value of your household contents. This way you’ll avoid being underinsured, which could have unpleasant consequences if an accident happens.

5. Valuables insurance

Little munchkins are just as destructive as they are cute, and they can spell disaster for mommy’s precious pearl necklace, daddy's expensive watch or that valuable painting on the wall. Families who own a number of valuable items should consider insuring them.

6. Travel insurance

Every child has the potential to completely ruin your travel plans. Maybe your kiddo gets sick, so you can’t go on that long-awaited trip. But here too you can insure yourself against the unexpected. The right travel insurance, especially travel cancellation insurance, can save your nerves and your wallet.

7. Legal protection insurance

Is your child being bullied at school and not getting the protection they need? Are you having difficulties with your employer or neighbor? Legal protection insurance can be extremely useful for families because it provides assistance with a number of legal issues. And we offer special family plans that provide coverage specifically for children and young people.

8. Other insurance

When you start or grow your family, other basic requirements often change too, such as how many vehicles or how much living space you need. We can help you find the right insurance for these situations as well. Our List of All Insurances provides an overview.