Death insurance in Germany

How can you insure life in Germany, the cost of Risikolebensversicherung, for whom it makes sense to conclude it.


Although life in Germany in terms of stability and security differs for the better from many other countries, anything can happen here. As MABulgakov said through the mouth of Woland from “The Master and Margarita”: “Yes, man is mortal, but that would be half the trouble. The bad news is that he is sometimes suddenly mortal, that’s the trick! ”

Unfortunately, sudden death is possible everywhere, including for the inhabitants of Germany, as I have had the opportunity to see more than once. I will not frighten readers with horror stories from personal experience, especially since they are quite standard. Whoever decided to read an article on this topic, he himself probably knows how it happens. Once upon a time, a man lived and died, but the family remained – that’s the whole story.

There are several ways to close the financial issue in Germany for family members left without a breadwinner. One of them is Risikolebensversicherung (RLV) life insurance . Risks are insured very simply: a contract is concluded for a certain period, during which an annual premium is paid, and in the event of the death of the insured during the validity period of the insurance, his family receives the agreed amount. Everything is very simple and angry, which is also attractive for me personally.

Despite the fact that everything seems to be obvious, below I will consider this type of insurance in more detail, so that everyone can evaluate for themselves whether it is worth concluding such insurance.

Reasons for taking out death insurance

If the family has children, then the reason is obvious. In the event of the death of one of the spouses, the second will not have it easy. And if the family has children, as well as large debts, for example for a mortgage, then the remaining family members are in danger of poverty and complete financial collapse. In addition, debts in Germany after the death of their owner are inherited and passed on to children, if we are talking about single parents. And if there are no children, then even the parents may be obliged to repay the loan.

So, the main reasons to take out insurance:

  • having a family
  • presence of debts

Based on this, we can safely say who should conclude an RLV:

  • The one who earns the main income in the family
  • To someone with a big family
  • Single parent

And you can also tell who most likely does not need this insurance:

  • Single
  • Childless
  • Debt-free

RLV price

An important advantage of this type of insurance is its relatively low price. It depends on several parameters: gender, age, health status, and so on. Also (in most cases) you can deduct payments from taxes in RLV when filling out a tax return.

An important drawback is that the person paying the insurance premium has no way of returning the money to his account. Either he will not die during the validity of the insurance contract, and his money will simply fall into the “profit” column of the insurance company, or he will die, which will also bring him nothing in material terms.

Approximate cost of insurance for men:

  • Age – 33 years old
  • Smoker – 77 €
  • Non-smoker – 55 €
  • Age – 43 years old
  • Smoker – 186 €
  • Non-smoker – 87 €
  • Age – 53 years old
  • Smoker – 540 €
  • Non-smoker – 214 €

Approximate cost of insurance for women:

  • Age – 33 years old
  • Smoker – 54 €
  • Non-smoker – 35 €
  • Age – 43 years old
  • Smoker – 130 €
  • Non-smoker – 65 €
  • Age – 53 years old
  • Smoker – 333 €
  • Non-smoker – 143 €

In addition to the fact that everyone was once again convinced that smoking is harmful, an additional conclusion can be drawn: you need to conclude death insurance from a young age and for a long time, then it will cost much less. Joke!

When and for how long do you need to conclude an RLV

Of course, it doesn’t make any sense to take out death insurance for a child or young people. Also, it is not wise to pay huge premiums for the elderly. If the first is still very far from death, then the second, on the contrary, is too close and the price of insurance will be comparable to the size of payments.

In my opinion, the main purpose of this insurance is to help keep the lives of the remaining family members in a familiar rut in the event of the death of its main breadwinner. That is, when a person has some kind of wealth, children have appeared, and everyone will have something to lose, if the head of the family dies, then perhaps the time has come.

Also, the right time may be the moment of purchasing a home on a mortgage , especially since banks often regard the conclusion of such insurance as additional money-back guarantees.

Insurance terms are usually offered from three to twelve years. A short term is suitable only if it is known that during this time the mortgage will be paid or the children will finish their studies and find work.

What is important when concluding insurance

Finding insurance is, of course, the easiest way to go online. The RLV search form does not require you to enter a lot of data, so getting an idea of ​​the offers on the market is easy.

But it is better to order such insurance if the terms of the contract are fully understood. So with a poor knowledge of German, the right decision would be to apply for the services of a Russian-speaking insurance agent. Fill out the application if you want an agent to get in touch and advise on this or any other type of insurance.

It is important to look not only at the price! Insurance search engines tend to sort offers by cost by default, giving the impression that the cheapest offer is the best, but this is not always the case. First of all, you need to make sure that the criteria for admission to such insurance are suitable. Perhaps the price will be really low, but only if the insured does not smoke or drink alcohol, an athlete with an ideal fat-to-body mass index, leading a healthy lifestyle mainly only at home or in the office of a huge corporation, and all this has been confirmed by a doctor over the past ten years of life.

Also, look for things like death benefits, contract duration, and additional insurance services.

Oftentimes, an RLV requires a medical examination. Chronic illness or bad habits can have a significant impact on the cost of insurance. In case of particularly high risks, the insurance company has the right to refuse to conclude a contract. After all, their goal is to make a profit, that is, they want clients to conclude insurance, but no one dies during the period of the contract, such things …

Insurance conditions may change after the conclusion of the contract. For example, if a person changes his profession and suddenly becomes a private detective from an office worker, then if he does not notify the insurance company about such a turn in life, then in the event of death at work, his family will receive nothing.

On the other hand, if a person quits smoking or gets rid of some kind of chronic illness through surgery, it is quite possible to lower RLV contributions on this basis.

When an insured event occurs, it must be borne in mind that the recipients of the money are subject to inheritance tax. Too large amounts of coverage do not make much sense, since then the relatives of the deceased will have to pay part of these funds to the state to the treasury.

Completion of RLV contract

At the end of the contract, the insurance will end by itself. You can preliminarily discuss the terms of the extension with the insurance, but usually prices and the market situation over the past period have changed so much that it will be easier to look for a new one.

Also, anything can happen in life. A situation may arise where each insurance is more likely harm than good, because you have to pay money for it. In this case, you will need to look into the contract and figure out whether the insurance company allows you to break it and on what conditions. At the moment, in most cases it is possible to complete the contract earlier than the deadline specified in it and even return part of the contributions. You just need to keep in mind that when concluding a new insurance, data on the break of the previous one on the initiative of the insured will most likely become known and this may affect the conditions of insurance.

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Igor Smith/ author of the article
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