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Statutory and Private Insurances

Statutory Insurances

Unemployment Insurance

Unemployment insurance is a compulsory form of insurance in Germany. The general insurance provider is the so-called `Bundesagentur für Arbeit´ (Federal Employment Agency). It provides coverage for the case of unemployment to secure a certain income while searching for work. In general you are entitled to unemployment benefits if you are in possession of a general work permit, you were working in Germany before becoming unemployed, you were employed according to statutory social security regulations on 360 days in the preceding three years and are available for recruitment. Periods of employment in other countries are not taken into account.

The contributions to the unemployment insurance are automatically deducted from your monthly salary. As a rule, the employers cover half of the contribution and the employees the other half. Participants of a fellowship or those aged 65 and over are exempt from paying unemployment insurance contributions.

If unemployment contributions to the German system can be taken into account by unemployment insurance providers of other countries must be ascertained in the respective country.

Nursing Care Insurance

Another pillar of the German national social security system is the so-called `Pflegeversicherung´ (Nursing Care Insurance). It is designed for people in need of care and dependent on the assistance of others providing domestic and in-patient care. This mandatory insurance is directly linked to the German National Health Insurance System and automatically deducted from your salary. Contributions to this insurance are paid on equal terms by the employer and the employee. Childless employees have to pay an extra surcharge of 0.25% of their gross salary.

Statutory Accident Insurance

Every employee and trainee is covered by statutory occupational accident insurance. Contributions are paid by the employer in full. It covers accidents that happen at the workplace or on the way to and from the workplace. Private accidents are not covered though. If an accident happens the costs of treatment will generally be handled by your health insurance provider. However, after serious accidents which require expensive rehabilitation measures the providers of statutory accident insurance step in. In cases of invalidity or death the accident insurance pays the corresponding pensions.

Private Insurances

Additional Insurances / Third-Party Liability Insurance

Apart from the above mentioned statutory insurances you always have the possibility to conclude other private insurances for numerous purposes (e.g. household contents insurance, private accident insurance, life insurance, legal expenses insurance etc.). Among these other insurances the most popular and also a very appropriate insurance is the so-called `Haftpflichtversicherung´ (Third-Party-Liability Insurance). It covers all costs resulting from unintentional damages inflicted on others and their property including that damage which is caused by children.

In general, the number of additional insurances depends on your personal needs and the amount of money you are willing to pay for voluntary insurances.