The simplest
Personal accident cover
Covers incapacity due to an accident, 24/7, private life as well as professional. Quick to set up, without heavy medical formalities, at a low price. Its limit: it does not cover illness.
Priority 2 — Your income
What if you could no longer invoice ?
An accident, an illness, a hospitalisation. For a self-employed person, stopping work stops the turnover, but not the costs. The state health fund pays only a flat amount. Three solutions combine to maintain your income while you recover.
The real problem
The state health fund is not enough
In Belgium, a self-employed person on incapacity receives nothing for the first month, then a flat benefit from their health fund. This flat amount is based on a legal minimum, not on your real income. For a consultant who earns well, the gap is brutal.
Meanwhile the costs continue: social contributions, professional rent, leasing, repayments, not to mention your standard of living. Protecting your income turns a health problem into a mere financial parenthesis rather than a downward spiral.
Three layers of protection
Three solutions, to combine according to your profile
The foundation
Guaranteed income
Covers incapacity due to an accident and to illness. The benefit generally targets up to ~80% of your reference income (your remuneration). It is the core protection, with medical formalities on entry.
For the director
Key-person insurance (keyman)
The benefit is calculated on turnover and paid to the company, to cover fixed costs. Ideal when you pay yourself a low salary topped up with dividends — a case where guaranteed income alone would fall short.
Covering incapacity, whether temporary or permanent (disability), is the very principle of these contracts. The right combination depends on your status and how you pay yourself.
How it's set
Three settings that determine your cover
01
The amount of the benefit
We set the benefit according to your income and fixed costs, within the insurer's limits.
02
The waiting period, and its buy-back
The period before benefits start. With a waiting-period buy-back, as soon as incapacity exceeds the threshold, you are paid retroactively from day one.
03
Duration and premium waiver
Up to what age, at what incapacity rate. Good to know: during incapacity, the insurer often takes over your premiums (premium waiver).
These contracts combine readily with a supplementary pension (PLCI or EIP) and hospitalisation cover, for a coherent file rather than a pile of policies.
Strengths to look for
- ✓ Benefits from a low incapacity rate
- ✓ Waiting-period buy-back
- ✓ Premium waiver during incapacity
- ✓ Revaluation (indexation) of the benefit
- ✓ Premiums deductible as professional expenses
Classic pitfalls to avoid
- ✕ A waiting period too long for your cash flow
- ✕ Broad medical exclusions (back, psychological…)
- ✕ An under-valued benefit that won't cover your costs
- ✕ A definition of incapacity that is too strict
- ✕ No indexation on a long-term contract
Frequently asked questions
Protecting your income: your questions
What is the difference between guaranteed income and the health-fund benefit ?
The state health fund pays a flat benefit, often well below your real income, and only after a waiting period. Guaranteed income is a private contract that tops up this flat amount to maintain your income level and cover your fixed costs during incapacity.
What is buying back the waiting period ?
The waiting period is the time, after incapacity begins, without benefits. With a waiting-period buy-back, as soon as incapacity exceeds a threshold (for example 30 days), the benefit is paid retroactively from day one. Without buy-back, nothing is owed during the chosen waiting period. It is a trade-off between premium and cash-flow comfort.
Is taking it out complicated ?
As soon as you cover incapacity due to illness, the insurer asks for medical formalities that can be heavy: detailed health questionnaire, examinations, sometimes a visit to a medical centre. Allow time for it. Personal accident cover, which covers only accidents, is much quicker to set up.
Are the premiums deductible ?
In most cases, the premiums of these professional contracts are deductible as professional expenses, and any benefits are then taxable. It depends on your status. We review it with you, and if needed with your accountant.
The 2 other priorities
Complete your protection
Free quote
Put your income out of harm's way
One conversation is enough to choose the right solutions, the right benefit and the right waiting period.