A+ A-

Social insurance

The German social insurance provides financial protection against severe risks of life and their consequences, as e.g. unemployment, old age, sickness and nursing needs. The social insurance is a compulsory insurance. Half of the contributions for the statutory social insurance is paid by the employer. The other half has to be borne by the employee and is automatically deducted from the wage or salary. The height of the social insurance contribution depends on the height of the income.

By the statutory pension insurance, employees are financially secured in old age. From 2012 to 2029, the retirement age is gradually raised from 65 to 67 years. The pension insurance will also assist you when you cannot, or partially only, work anymore. The statutory accident insurance scheme insures you against occupational accidents or accidents on your way to work, and also against occupational diseases. Affected persons are reimbursed by the payment of transition allowances and pensions, and supported in medical and occupational rehabilitation.

People who get unemployed in Germany through no fault of themselves are paid financial support by the government and assisted in the search for a job by the Agentur für Arbeit (Employment Agency). When you lose your job and have worked before in an insurance-covered employment for 12 months at least, you can apply for Unemployment Benefit I. The Unemployment Benefit is paid for a maximum of 12 months, and at the age from 50 to 65 years, between 15 and 24 months, at maximum. Unemployment Benefit II is paid to all people who can work but do not find a job in the long run and need help. Unemployment Benefit II is paid for the time of the unemployment and you do not have sufficient income to ensure your subsistence. Further information on Unemployment Benefit II is given by the Jobcenter.

Das könnte Sie interessieren:

Private insurances

Private insurances

In addition to the statutory insurance, you can choose from many private insurances. Every insurance costs money. You should thoroughly consider what you really need, before you take out an insurance. In Germany you are legally obliged to reimburse a damage occurred. Therefore the private third-party liability insurance is very important. They pay when you unintentionally cause a damage to another person, when damages in your flat occur, e.g. damages caused by water, fire or theft. When you own a car, you have to take out a KFZ-Haftpflichtversicherung (third-party liability insurance for engine-driven vehicles). There are other private insurances you can take out, e.g. occupational invalidity insurance or life insurance. Ask for non-binding offers from different insurers to compare prices and covered damages. When you are granted allowances from the Jobcenter, you can choose your insurances and are paid a lump-sum amount for it.