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I'm new in Switzerland and met with an insurance agent about getting the required health insurance. He told me that I should sign up for a 3-year contract for the extra health insurance to get the full benefit. Would you recommend getting a long-term health insurance contract?
Hi there,
Insurance policies can be taken out in terms of 1 year. You are under no obligation to get insurance with a longer term, and doing so is generally a bad idea in the case of compulsory health insurance because premiums change annually.
Keeping a short insurance term allows you to compare and switch to a cheaper compulsory health insurance at the end of the year if you choose to.
Longer terms can make sense in the case of supplementary health insurance because policies have qualifying periods (1 year, for example) before you can take advantage of certain benefits. This is often the case with regards to dental benefits and maternity benefits.
Best regards from Moneyguru
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