Nomen

die Krankentagegeldversicherung

sickness benefits insurance, daily sickness allowance insurance

Eine Krankentagegeldversicherung ist oft sinnvoll.

Sickness benefits insurance is often useful.

Er hat eine private Krankentagegeldversicherung abgeschlossen.

He took out a private sickness benefits insurance policy.

((to take out sth.)) He took out a sickness benefits insurance policy.

income protection insurance

A compound noun: Kranken (sick) + Tage (days) + Geld (money) + Versicherung (insurance). Insurance for money for sick days.

Break this long word into its four parts: Kranken-Tage-Geld-Versicherung. It literally means 'sick-day-money-insurance'.

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