Income protection insurance

Secure income in the event of disability due to an illness or accident

If you’re unable to work in the short or long term because of sickness or an accident, you may suffer a serious loss of earnings. Are you looking for a simple way to compensate for that? If so, Generali’s COMPENSA income protection insurance is just what you need.

Your benefits

  • Financial security in the event of disability due to illness or accident
  • You choose the amount of pension to be insured and the waiting period to suit your individual needs
  • Tariff guarantee for the first five insurance years
  • Tax optimisation

Sickness and accidents can bring unexpected financial losses

Fortunately, the Swiss enjoy better-than-average health by global comparison. We can expect to enjoy a long life and our country has one of the highest standards of living. But that doesn’t mean you can’t be ill or have an accident – and if that happens, you’re dependent on insurance benefits when it comes to meeting your living costs. If you’re unable to work because of an accident, the mandatory social benefits are generally adequate. But, if you’re one of the 79% who become disabled due to illness, the benefits you qualify for may not be enough.


Causes of incapacity to work

Sickness is the most frequent reason for incapacity to work (79%). However, this risk is the least well covered by social insurance: people who are unable to work because of illness lose 30 – 40% of their former monthly income.



The mandatory social insurance benefits in case of illness amount to no more than 60 – 70% of your salary. That means you risk having 30 – 40% less than you need to live on. That sort of income loss hurts – but you can avoid it by taking out income protection insurance with Generali, which tops up the mandatory social insurance benefits. It protects you against the sort of financial losses that can result from incapacity to work due to mental or physical illness. Income protection insurance is suitable for all working people aged between 18 and 55. Generali’s income protection insurance is the ideal solution, in particular for self-employed people who want to protect themselves against the possibility of being unable to work.


HOW income protection INSURANCE WORKS

Income protection insurance protects you in the event of proven incapacity to work due to an illness or accident. It compensates for the resulting loss of earnings within the scope of the insured benefits. If the worst happens, Generali will clarify your entitlement and, after the agreed waiting period, pay you a quarterly pension, right up until retirement age if need be. This pension enables you to cover your day-to-day expenses and thus maintain your current standard of living. No later than as of this point, Generali will also pay the rest of the insurance premiums for you. You can decide yourself how much pension you want to receive and how long the waiting period should be, to fit your present circumstances. For a lower premium, you can insure just the risk of illness (not that of accident). Our income protection insurance also lets you benefit from tax advantages: in Pillar 3a, the premiums you pay are deductible from your taxable income up to an upper limit stipulated by law.

Generali income protection insurance can also be concluded simply and inexpensively online as COMPENSA Compact.

Your benefits

If you become disabled due to illness or an accident, we will grant you a quarterly annuity after the agreed waiting period. The amount is payable in arrears and is based on the extent of the loss of earnings.

The waiting period for COMPENSA Compact online income protection insurance is 720 days.


  • On expiry of the agreed waiting period, Generali will grant an exemption from the obligation to pay premiums if the insured person becomes incapable of work or if his or her basic faculties are impaired.

Generali will grant an exemption from the obligation to pay premiums for COMPENSA Compact online income protection insurance after a waiting period of 720 days.

Important questions

On a monthly, quarterly, six-monthly or annual basis.

Incapacity to work insurance can be concluded in Pillar 3a (qualified provident insurance) and in Pillar 3b (voluntary provident insurance). You can find the current statutory maximum amounts for pillar 3a here.



Type of insurance

Pension in the event of incapacity to work as a result of illness or accident (tariffs ERS, ERTS). There is the option of insuring an annuity for the event of illness only (without accident) (tariffs ERKS, ERTKS).

COMPENSA Compact: Pension in the event of incapacity to work as a result of illness or accident (tariff ERS_ON)

Waiting period

Long-term pensions (tariffs ERS, ERKS): 720 days
Short-term pensions (tariffs ERTS, ERTKS): 30, 60 or 90 Tage
Duration of benefits is 720 days less the waiting period

COMPENSA Compact: 720 days

Age at entry/final age Age at entry: 18 to 55 years
Final age: AHV retirement age (currently M: 65/F: 64)
premium adjustment Generali guarantees the premium during the first five insurance years.
Flexible premiums The premiums are determined by reference to insured person's risk profile. On conclusion of any further training, the insured person may apply for a review which may indicate reduced risk and thus result in lower premiums. Premiums will not, however be increased if the risk does.
Surrender Surrender is not possible.
Surplus participation There is no participation in surpluses.
Worldwide cover The policy conditions provide worldwide coverage for individuals who are domiciled in Switzerland or the Principality of Liechtenstein when the policy is concluded. If the insured person transfers his or her domicile to a foreign country, this insurance coverage shall continue to apply within the framework of the General Policy Conditions.