The same protection comes in several packages: it can be taken out on one person, on a family, or on a company's whole team. The three forms aren't competitors – they often build on each other to give the full picture. This article is the map for choosing between them.
- Individual: the most flexible – amounts and elements can be tailored precisely to one person.
- Family: several insured people on one policy, typically with a more favourable premium structure – children included.
- Group: the company takes it out on the team – a benefit with typically more favourable tax treatment than wages, with no individual health underwriting, available even for small headcounts.
Individual policy: the champion of tailoring
The individual form is strongest where the situation is out of the ordinary: a competitive athlete, a motorcyclist, someone in a higher-risk occupation – or simply a precise need for a particular amount. Every element and amount can be sized to one person, and sport and occupational classification can be arranged individually. In return, this form asks for the most attention when you sign up.
Family package: more protection, one shared framework
On a family policy, the adults and the children are insured under one contract – with a combined premium, typically in a more favourable structure than taking out separate policies. On the children's side, the permanent disability amount is the key point, while for the earners it's about cushioning lost income. A big advantage of this form is also how tidy it is: one renewal date, one review, one place. The family-package approach article walks through the sizing logic in full.
Group: the company takes it out, the team receives it
Group personal accident insurance is taken out by the employer on its staff – named individually or by job-role groups. Three features make it special: it starts with no individual health underwriting; it's available even for small headcounts; and as a benefit it can typically have more favourable tax treatment than wages – under the tax rules in force, with the details worked out with your accountant. From the employee's point of view it's a valuable foundation – one that your own individual or family layer can build on top of: the case for it at company level is here.
How do they build on each other?
A typical good structure is layered. The base is often already there: a group scheme at work, school insurance for the children – these are valuable, but typically modest in amount and tied to the underlying relationship (they end when you change jobs or the child changes school). Your own individual or family policy builds on top of that: sized to the missing part of the amount, under your family's control. That's why my first question when someone asks for a quote is always: what do you already have? It's not worth paying for needless overlap – but it would be a shame to pay for the gaps at claim time.
A quick rule of thumb
Single, with a specific risk: individual. Family with children: a family package, built on top of the school base. Business owner: group cover for the team – plus your own layer for yourself and your family. And all three routes start in the same place: with a needs assessment, where your existing cover also comes to the table.
A question about your own situation? Run the numbers in minutes with the online calculator (in Hungarian), or book a free 20-minute consultation →
