Expat Insurance you must have in Germany

September 25, 2022 | Blog, Home & Relocation

When coming to Germany you might feel overwhelmed with the amount of bureaucracy you are faced with. Also, there seems to be insurance for almost everything you can imagine.  But which of these insurances do you actually need and which ones are pure luxury?  Horizon65 is an independent financial advisor with the ultimate goal of allowing you to save money for retirement – therefore they are not interested in pushing for insurance unless they are needed or there to protect your wealth.  Founder and COO Seamus Wolf tells you everything you need to know.


Health Insurance 

You don’t have a real choice when it comes to health insurance when moving to Germany – you have to sign up for either a private provider or the public system. In case you don’t do it you are risking high back payments. Your foreign plan is not sufficient and doesn’t qualify as valid health insurance when living in Germany. 


Germany is very unique in this matter allowing you to choose between two systems that run in parallel as long as you meet the criteria for switching to private. 


Both systems are good and both systems have pros and cons, in case you qualify for private, it makes a lot of sense to talk to a licensed and independent expert that can help you. We at Horizon65 are fully licensed and make sure that your decision is based on the full picture and backed with scientific calculations including your retirement situation. 


Your health insurance has to be there for you and affordable until the day you die. Plans that start cheap might end up costing a lot more than the option that was a bit more pricy in the beginning, but far more stable over time.

Expert Insurance tip


When signing up for a healthcare plan make sure you look at your retirement situation and pension status.

Same the other way around – always look at your healthcare situation when planning your pension. 

Here you can find the best healthcare plan with our comparison tool


Liability Insurance

In case you, your spouse, or your little rascals cause damages to a third party (either to their belongings, their wealth, or even their health) you are liable for those damages fully. These damages can be unimaginably costly and can financially ruin you. There is no limit to personal liability in Germany.  The only way to avoid this personal financial threat is to get liability insurance for you and for the family. You can easily cover the entire family for around 50€ per year. That’s less than one of your favourite Iced Caramel Macchiato per month. 

Good to know


In case you are saving for retirement with a trading app or an online trading platform the money is not protected in the case of personal liability (or insolvency). There are however efficient solutions to protect your savings by shielding them within a pension plan. Our team is happy to help you.

Here you can find the most suitable liability insurance


Income protection

The German word for this insurance is “Berufsunfähigkeitsversicherung” in English it is sometimes referred to as “occupational disability insurance”. 


According to the German consumer-rights union and the professional opinion of independent financial advisors in Germany, private insurance for income protection is a necessity.


This is the case for as long as you are depending on your income or the income of your husband or wife to pay for your day-to-day bills. Unless you are fully financially independent and don’t rely on the ability of the income provider or providers to work then a plan like this is an absolute lifesaver.


The consumer-rights union recommends that even developers, designers, and anyone else in low-risk jobs should secure their income through private occupational disability insurance as statistically, one in 4 people living in Germany becomes working disabled at some point in life. Most cases are due to illnesses of the nervous system, and dreadful diseases like cancer and less than 10% of all cases are caused by accidents from working in high-risk professions. German state coverage only kicks in after you have expended all your private assets to support yourself and is designed to keep you from poverty and not to maintain a lifestyle.


Within the first five years of moving to Germany, you can’t expect much, and even after the five years you most likely have to survive off of around 30% of your previous income – in case you have a mortgage or an expensive apartment this might not cut it and even these 30% can be quite difficult to get. 


Private plans are much simpler to claim and allow you to truly maintain your current lifestyle. You will be able to sustain the mortgage payments of your house, your kids will be able to stay in the good private school you chose and even your family vacation will be within the budget. Life will go on – the best possible base for you or your spouse to become better again.

Good to know


The important factors that influence the monthly insurance premium are:

– The monthly salary you would like to secure
– Your current health status
– The age when signing up
– Your job
– Your educational background

Once you signed up your monthly premium is secured and can’t be increased for when you get older, sicker, or switch jobs to a more dangerous one. In case you finish a higher degree or switch to a safer job your premium will be adjusted downwards though in many cases. Since our health and age don’t get any better over time (at least in the eye of insurance companies) it is important to secure coverage before it is too late.


Make sure you have enough coverage to also save for retirement. Women are already three times more likely to face old age poverty compared to me . In case you are unable to work, the pension gap will skyrocket otherwise, which you can check with our mobile app

Your next step


This insurance is very complex and we highly recommend getting professional help applying for the coverage. At Horizon65 we are happy to offer a free consultation to MumAbroad readers in order to find the best plans possible for you.

Claim your free insurance consultation.


Contact Seamus Wolf for more information: seamus.wolf@horizon65.com

For more information about relocating to Germany, read The Ultimate Family Guide Moving to Germany

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