Financial advice for professors is a supreme discipline for us. We provide advice at the highest professional level and value exceptionally intelligent and demanding customers who demand a little more from us from time to time. Many professors are already our customers, as can be seen from some of our 3.900 reviews.
Specialties of Financial Advice for Professors
From many consultations, we are familiar with the particularities of life planning for professors and other academic positions on the path to full professorship, such as research assistants, doctoral students, postdocs, academic councillors, private lecturers and junior professors.
There are currently around 51,000 professors working in Germany, and around 90% are civil servants for life. A (junior) professor’s need for security develops parallel to the phases of the civil service relationship from temporary civil servant, probationary official to lifetime civil servant.
Of course, we take all of these aspects into account in our tailor-made financial advice for professors. This allows our clients to focus on their academic career.
The subject area of the professorship – whether mathematics, law, business administration, economics, medicine, mechanical engineering or social sciences – plays a subordinate role in counseling.
How Much Does our Financial Advice for Professors Cost?
Our financial advice for professors is generally free of charge. What you get in return is the implementation of sensible recommendations, active recommendations and good ratings (DE) if you are also satisfied with our advice.
Unsere Kunden empfehlen unsere Beratung in über 3.900 Bewertungen. Machen Sie sich den Weg zur Lösung Ihres Anliegens nicht unnötig schwer.
Jetzt kostenlosen Online-Beratungstermin buchenAt a Glance: What Does a Professor Need?
Before we go into detail, here is an overview of the most important solutions for professors:
Special Features for Professors as Civil Servants
Anyone who enters into a special service and loyalty relationship with their employer by oath of office is significantly better covered in the event of illness and retirement than insured persons under statutory health, unemployment and pension insurance.
However, it is a misconception that as a civil servant you are already fully protected in terms of status! A closer look reveals some important supply gaps that professors are often unaware of. For more information, see the BMI civil service provision page.
Some professors are already recommended to Debeka at university by colleagues or “tipsters” (see Debeka acquires criminal data). There, they first gain experience with bonded insurance intermediaries (see Does Debeka provide independent advice?). Others come to us directly and seek independent advice (see Debeka and insurance broker) . 🙂
When choosing the right insurance solution, you should proceed in the same way as you would for a scientific study: collect data and facts, analyse, evaluate and then decide. Independent advice is essential for a well-founded, analytical decision. One-sided facts carry the risk of one-sided results!
Patrick Mini, Expert in advising professors
Our financial advice for professors focuses on the following topics:
Private Health Insurance for Professors
In principle, professors have the option of choosing between statutory health insurance (GKV) or private health insurance (PKV) with allowance.
Public or Private Health Insurance: Which is the Better Choice for Professors?
Private health insurance is usually the better choice for professors. In private health insurance, you get better benefits and pay a lower contribution with state allowance than in the public health insurance.
Detailed information on typical critical questions about private health insurance, which you as a professor should also consider carefully when deciding on private or statutory health insurance, can be found at:
Specificity: Temporary Civil Servants
Temporary employment is a special, temporary employment relationship. In most cases, this results in a lifetime civil service relationship.
After the time limit, some professors decide to pursue a career outside the university in the private sector. Two questions then arise:
Statutory Health Insurance or Private Health Insurance for Temporary Civil Servants?
This question cannot be answered in general terms due to many influencing factors. Relevant factors include
What Happens if You Leave the Civil Service?
If a professor leaves their employment, their continued employment determines whether
Concerns about the affordability of private health insurance in old age are usually unfounded, see Is private health insurance too expensive in old age? Ultimately, it’s about medicine and, above all, health. A former professor with a better-paid subsequent job will usually be able to afford private health insurance in old age.
If you earn enough to switch to private health insurance, you can also afford reasonable health insurance!
Dr. B. Schlemann
Private Health Insurance with Allowance for Professors
The health costs of professors, their children and, in some cases, their spouses are covered proportionately by the federal and state governments as „allowance providers“. The remaining costs are covered by private health insurance.
As civil servants, professors therefore enjoy the privilege of being able to take out full private health insurance for little money. They pay only a fraction of the contributions of normal employees. The private health insurance contract accompanies you for a lifetime. You don’t yet know what benefits you will be entitled to later. That’s why you should pay particular attention when making your choice to ensure that you are optimally covered in the event of an emergency.
State Allowance: Health Insurance Provided by the Employer
The employer only pays part of the healthcare costs of a professor and their dependents. The percentage rate depends, among other things, on the number of children.
An overview of the various allowance rates is provided by the following table:
| with max. 1 child | 2+ children | child(ren) | Spouses | Pensioners | |
| Bund | 50% | 70% | 80% | 70% | 70% |
| Baden-Württemberg | 50% | 50% | 80% | 50% | 50% |
| Bayern | 50% | 70% | 80% | 70% | 70% |
| Berlin | 50% | 70% | 80% | 70% | 70% |
| Brandenburg | 50% | 70% | 80% | 70% | 70% |
| Bremen | 50% + 5% für Verheiratete | + 5% per child until max. 70% | analog parents | analog spouse | 60-80% |
| Hamburg | 50% | 70% | 80% | 70% | 70% |
| Hessen | 50% | + 5%per child until max. 70% | 55-85% | 55-85% | 60-85% |
| Mecklenburg-Vorpommern | 50% | 70% | 80% | 70% | 70% |
| Niedersachsen | 50% | 70% | 80% | 70% | 70% |
| Nordrhein-Westfalen | 50% | 70% | 80% | 70% | 70% |
| Rheinland-Pfalz | 50% | 70% | 80% | 70% | 70% |
| Saarland | 50% | 70% | 80% | 70% | 70% |
| Sachsen | 50%-70% | 90% | 90% | 70% | 70% |
| Sachsen-Anhalt | 50% | 70% | 80% | 70% | 70% |
| Schleswig-Holstein | 50% | 70% | 80% | 70% | 70% |
Private Health Insurance for Professors
Private health insurance usually accompanies professors for a lifetime. So choose them particularly carefully!
Two typical mistakes made by professors due to a lack of time and their own expertise when choosing their health insurance from our daily practice:
Don’t make the same mistake and seek independent advice – your health is at stake! So that you don’t have to spend a lot of time googling, we can help you get a well-structured overview with a detailed comparison of tariffs.
Health Check: Honesty is a Must!
Admission to private health insurance for professors requires a health check.
Do not take this lightly. Your previous medical history can limit your options, lead to other suitable solutions or only allow you to take out private health insurance via the so-called opening campaign of the PKV association with a so-called risk surcharge (= additional premium) of up to 30%.
During our health insurance consultation, we clarify your insurability in advance, if necessary by means of an anonymous preliminary risk inquiry. We then work with you to develop a customized solution concept. We help you select the right solution from a comprehensive (approx. 150 pages) analysis comparing up to six tariffs in detail.
The Opening Campaign for „Sick“ Professors and Relatives
If a professor or family member is unable to take out private health insurance in the normal way due to pre-existing conditions, the so-called „opening campaign of private health insurance for civil servants and their dependents“ remains as a way out.
In short, this means:
Further information can be found under Opening campaign for civil servants: PKV despite pre-existing conditions. As the companies do not usually pay a broker’s fee for advice on the opening campaign, we offer this for a fee, see Advice on the opening campaign – costs.
Provisional Insurance for Children and Spouses
In certain constellations, children of professors are still entitled to free family insurance in the statutory health insurance scheme via the other parent, e.g. if the parent with statutory insurance earns more or if they are unmarried.
In this case, the professor has the choice of having their child insured in the statutory health insurance scheme free of charge. Alternatively, for a small contribution of around EUR 45 p.m. premium benefits from private health insurance.
Occupational Disability of Professors
Occupational disability insurance with a disability clause is an important additional safeguard. It should therefore definitely be taken into account when providing financial advice for professors as long as you are still dependent on an income from work!
Mr. Mini supported me very competently in my search for private health insurance. Throughout the entire process, Mr. Mini was always on hand with good advice. Every query is answered in as much detail as desired and usually at lightning speed. So far, I am very satisfied with the private health insurance I have chosen and I am also happy to seek advice from Mr. Mini regarding other insurance benefits. Thanks again!
A Professor via LinkedIn
Pension Planning for Professors
Financial advice for professors always includes forward-looking pension planning:
Investment for Professors
When investing your money, please do not (only) follow a pronounced tax-saving instinct, but plan wisely – with our help!
Unsere Kunden empfehlen unsere Beratung in über 3.900 Bewertungen. Machen Sie sich den Weg zur Lösung Ihres Anliegens nicht unnötig schwer.
Jetzt kostenlosen Online-Beratungstermin buchen(Public) Liability Insurance for Professors
Conclusion on Independent Financial Advice for Professors
Save yourself the detours and come straight to us! 😃 We are professionals in advising professors.
Our specialist for financial advice for professors is Patrick Mini. He is currently doing his own doctorate in the field of health insurance. You can book an appointment directly here.
