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When is term life insurance worth it in Germany?

In short

It makes sense when others depend on your income: children, a partner who earns less or a shared loan. At 30 as a non-smoker you often get EUR 200,000 of cover for 30 years for EUR 9 to 16 a month. Singles without debts usually do not need it. Newcomers often need it more, because German survivors' pensions are low or not yet earned.

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When is term life insurance worth it in Germany?

What it costs

Guide figures from published tariff examples.

Example	Typical range
Age 30, non-smoker, EUR 200,000, 30 year term	about EUR 9 to 16 a month
Age 30, non-smoker, EUR 200,000, 25 year term	about EUR 10 to 20 a month
Cheapest tariffs, small sums	from about EUR 2.50 a month

Guide values as of September 2026 from publicly quoted tariff examples. Your premium depends on age, job and health; we obtain the exact quote for you.

Worked example

Family, two children, home loan of EUR 250,000

How to set the sum for the main earner.

Remaining loan	EUR 250,000
Three years of living costs	about EUR 100,000
Sum insured	EUR 350,000, 25 year term

For a healthy non-smoker around 35 usually a low two digit amount per month, depending on health.

Who it is worth it for

The statutory widow's and orphan's pension in Germany is low. Without extra cover, surviving family members often have to give up their home.

Situation	Assessment
Parents with young children	very useful
Home loan	very useful, at least the loan amount
Unmarried couple	useful, take out cross policies
Single without debts	usually not needed
Retired without a loan	usually not needed

What is different if you come from abroad

A German survivors' pension usually requires that the person who died paid into the German pension system for at least five years. Many newcomers have not reached that yet, so their family would get little or nothing from Germany. Pension rights from your home country may count in some cases, but that takes time to sort out.

Term life insurance (Risikolebensversicherung) is known in the UK and US too, but a German policy has its own health questions, in German, and wrong answers can void the cover. Answer them carefully and ask when you are unsure. Check whether the cover continues if you move abroad later, many tariffs allow it, some limit it.

If your partner or children live in another country, make sure the beneficiary (Bezugsberechtigter) is named clearly and think about tax on the payout in both countries.

Which sum and term

The sum should pay off loans and cover living costs for a few years. The term ends when the children are independent or the loan is repaid.

The honest limits

If you outlive the term, you get nothing back. That is intended, and it is why it is so cheap. Endowment life insurance (Kapitallebensversicherung) is usually much more expensive as protection for dependants.

Step by step

Add up your open loans.
Estimate what your family needs for a few years.
Choose a term that ends with the loan or when the children are independent.
As an unmarried couple, take out cross policies.
Answer the health questions carefully and completely.

Checklist

Sum covers loan and living costs
Term fits the need
Non-smoker status stated correctly
Beneficiary named, including address abroad if needed
Option to raise cover after a birth or home purchase without new health questions

Common mistakes

Choosing too low a sum
Forgetting inheritance tax for unmarried couples
Taking endowment life insurance instead of pure term cover
Counting on a German survivors' pension you have not yet earned

Questions and answers

Frequently asked

Do I need term life insurance as a single?

Usually not, unless someone depends on you or a loan needs to be paid off.

What happens if I outlive the term?

The policy ends without a payout.

Does the policy continue if I leave Germany?

Many tariffs keep paying worldwide, some limit cover after a move. Check the terms before you sign.

Is suicide covered?

After a waiting period, usually three years, generally yes.

Does the bank require term life insurance?

Often for home loans, especially with a single earner.

What does cross policy mean?

Each partner is the policyholder for the other partner's life. For unmarried couples this often avoids inheritance tax.

Sources

NAMMERT insurance broker

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Term life insurance (Risikolebensversicherung)

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