LEBENSVERSICHERUNG
Life Insurance
Financial protection for the family in the event of death.
Last reviewed: 29 May 2026
Life insurance in Germany covers a range of products that provide financial protection in the event of death or serve as a retirement savings vehicle. The two main types are term life insurance (Risikolebensversicherung) and whole-of-life or savings-linked life insurance (kapitalbildende Lebensversicherung).
Term life insurance (RLV) is the most straightforward form: it pays out the agreed sum to the named beneficiaries if the insured person dies during the policy term. If the insured person survives to the end of the term, no payout is made and the policy simply expires. Because it covers a defined risk only, it is the most affordable form of life insurance and is particularly well suited to parents with children, couples with a shared mortgage or the main earner in a household.
Capital-forming life insurance (KLV) combines death protection with a savings component. Part of the monthly premium is invested, with the accumulated sum paid out either at the end of the policy term or upon death. Related variants include unit-linked life insurance (fondsgebundene Lebensversicherung), where the savings portion is invested in mutual funds, and annuity insurance (Rentenversicherung), which is structured to pay a lifelong monthly income.
Health questions are a standard part of any application. Pre-existing conditions can lead to premium surcharges, exclusion of specific conditions, or refusal of cover. Taking out a policy while young and in good health is therefore generally advantageous.
The sum insured for term life insurance should reflect the financial protection your dependants actually need: enough to cover ongoing obligations (mortgage or rent, maintenance payments, living costs) for a meaningful period. A rough benchmark often cited is three to five times annual net income.
When comparing policies, consider: the policy term, whether a guaranteed insurability option is available, whether a disability waiver is included, and whether any indexation clause automatically adjusts premiums and sum insured over time.
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Frequently Asked Questions
Term life insurance only pays in the event of death during the term – it is affordable and straightforward. Whole life insurance combines death protection with a savings component and also pays out if you survive the term. Experts today usually recommend term life insurance.
A rule of thumb is 3–5 times the annual gross income. Those with a family or paying off a loan should set it higher. With a mortgage, the sum insured should be at least equal to the outstanding debt.
Essential for everyone with financial dependants: parents with minor children, sole earners, couples with a joint property loan. Self-employed people without strong statutory protection for dependants should also take it out.
Typical questions concern chronic diseases, hospital stays in the past 5–10 years, smoking, BMI and risky hobbies. All information must be truthful – incorrect information can lead to refusal of benefits.
EeV24.de is not an insurance broker. All information is editorial and does not replace personal advice.