If you are self-employed, you must take out a parental insurance policy to qualify for parental benefits

The insurance premium is 3,000 DKK, annually, and you must have been covered for at least one year before you can receive any payments.

In addition, you must:

• live in the Faroe Islands,
• have an income from self-employment in the Faroe Islands, either alone or in partnership with others,
• self-employment must be your principal occupation.

How to take out the parental insurance 
Complete the application form "Parental insurance, self-employed" and send it to Barsilsskipanin via Mínboks (minboks.fo) or by post to Barsilsskipanin, Postboks 2151, 110 Tórshavn. You will find the application form under "Forms" in the bar above.

You may take out the insurance the day you start working as self-employed, and you could be covered, at the earliest, from the day Barsilsskipanin receives your application.

Insurance premium
The insurance premium is 3,000 DKK, annually, and is payable to TAKS. The bill will be enclosed in the letter you receive when the insurance is approved.

Cancellation
You can cancel the insurance with a notice period of one month. The cancellation will take effect beginning the month after Barsilsskipanin receives your notice.