Is an AOV insurance mandatory?
You may also know AOV insurance as disability insurance. With an AOV insurance you receive a payment from your insurer when you become disabled. A salaried employee is usually automatically insured for this, but as a self-employed entrepreneur you are responsible for taking out such insurance. However, taking out AOV insurance is not mandatory. In this article on Alpina.nl we explain why it is wise to take out an AOV insurance and what developments there are around making this insurance compulsory.
Not (yet) compulsory, but sensible!
Taking out an AOV insurance is not yet obligatory, but it is sensible. The chance of becoming ill or having an accident, may seem small but an accident can happen at any time. Especially in certain branches the chance of becoming unfit for work is bigger, for instance when there is a lot of heavy physical work or when large machines are used. Yet this risk is often underestimated. Even in your spare time, of course, something can always happen, such as a skiing accident or a nasty fall on your bicycle. You probably have a good buffer to bridge such situations, but a buffer is of course not infinite. If you become disabled, you may not be able to work for months. Your fixed costs will continue while you have no income. Moreover, you do not want to lose all your carefully accumulated savings.
In such a situation, an employee receives an income because his or her employer has taken out disability insurance. As a self-employed person this is your own choice and responsibility. By taking out disability insurance as an entrepreneur, you are assured of an income when you become disabled and cannot work for a long time. Insuring your income is not something you do because you have to, but to ensure yourself of a financial safety net.
Possibly mandatory from 2024
Currently, an AOV insurance is not yet mandatory, but chances are that this will change in the near future. There is talk about an insurance obligation for self-employed people. Taking out an AOV insurance will then be mandatory. This is done to protect all workers against the consequences of disability. In addition, a compulsory AOV insurance reduces the costs and risks for society. Also, the competition with salaried employees becomes fairer, because hiring the self-employed becomes more expensive if they pass on the costs of their AOV insurance to their clients.
Take out AOV insurance directly through Alpina
Don't wait until AOV insurance becomes mandatory, but make sure you have a financial safety net now. After all, you are taking out AOV insurance for yourself and your company. Curious about the costs? On Alpina.nl you can easily request a quote for an AOV insurance. Based on a number of details we can make an accurate quote. You can then compare the offer yourself. Do you have any questions about AOV insurance or the quotation? Then please contact us!
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