Starting and protecting a family

Starting a family

Start a family and experience the joy of parenthood.

What do you have to consider when starting a family?

Starting a family is a significant step in life. You should prepare properly so you don’t end up in financial difficulties due to unforeseen events. You can provide financial security for yourself, your partner and your children with insurance. For example, you can take out insurance that covers you if you – as a parent – have an accident or fall ill and can no longer work. Or you can get cover that protects your family if you die or pays benefits out to your child if they become unable to work later in life. Proper protection – combined with a savings solution for your child – helps you set the right course so your child will have a good start to life.

Tips and topics about starting a family

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What do you need for new arrivals?

Starting a family is about more than just all the beautiful moments and experiences. It also involves a great deal of responsibility. But how do you properly protect your loved ones for the future? There are many ways of doing so – from opening a child’s savings account to taking out income protection insurance and life insurance. The best thing to do is get professional advice. That way, you’ll find the right solutions to suit your life situation and family model.

Questions and answers

Effects of starting a family:

Changes to your lifestyle: You need to set aside a lot of time to care for and bring up your children.
Financial implications: Starting a family means you’ll be spending a lot on your children over the years.
Time management: It can be challenging to balance work and family life.
Long-term effects: starting your own family has a big impact on the decisions you make concerning your career, where you live, your financial goals and much more besides.

Prerequisites for starting a family in Switzerland:

Life circumstances: You should be in a stable relationship if you are going to start your own family. You also need to be emotionally ready and able to take care of a child.
Finances: Starting a family doesn’t have to be expensive. But you should be aware that you need enough money to meet your children’s or even your pets’ needs.
Types of family: In Switzerland, you should consider legal aspects when starting a family. Marriage, registered partnership and cohabitation all entail different rights and obligations. Things get complex when you start a patchwork family.
Adoption: if you would like to start a family through adoption, you must meet certain requirements in terms of your age, financial stability and suitability as parents.

Tips relating to your finances:

Define your desired standard of living. What do you imagine your living situation, your children’s education or family holidays will be like?
Draw up a budget. Calculate your monthly expenses for housing, food, childcare, healthcare, education and leisure.
Start a family on a shoestring: plan your finances carefully and use your money in the right place. State support – such as financial aid for the parents or childcare – is also available.

Sensible insurance products for children include:

Health insurance and accident insurance: In Switzerland, parents must take out health and accident insurance before their child is born. The child must be registered with a health insurance fund no later than three months after being born.
Income protection insurance: This provides financial protection if the child is permanently unable to work later in life due to health problems or accidents.
Children’s insurance: special children’s insurance policies combine risk cover and savings. They cover the child in the event of disability, but also if one of their parents loses their earning capacity or dies. Such policies also help build up capital to support your children as they venture into adulthood.