Compare the top life insurance providers in Germany — see cover, features and typical rates side by side.
23 live offers compared from 18 providers, from €12 /Monat. Updated daily.
€12 /Monat
€12 /Monat
€12 /Monat
€13 /Monat
€13 /Monat
€13 /Monat
€13 /Monat
€13 /Monat
€14 /Monat
€14 /Monat
€14 /Monat
€14 /Monat
€14 /Monat
€14 /Monat
€15 /Monat
€15 /Monat
€15 /Monat
€15 /Monat
€15 /Monat
Price on request
Price on request
Price on request
Price on request
Life insurance (Lebensversicherung) in Germany pays out a sum of money when the insured person dies, or in some contract types when they reach a set age. It is one of the country's oldest and most widely held financial products, used both for family protection and, historically, for long-term saving.
The market splits into two very different products. Term life insurance (Risikolebensversicherung) is pure protection: it pays a chosen sum to your beneficiaries if you die during the policy term, and has no savings value. Endowment or whole-of-life insurance (Kapitallebensversicherung) combines a death benefit with a savings or investment element that builds a payout over time. For most families the term product is the affordable choice for Hinterbliebenenschutz — protecting surviving dependants.
Life insurers in Germany are supervised by BaFin, the Federal Financial Supervisory Authority, which oversees solvency and consumer conduct. Policies are sold through insurers' own agents, independent brokers (Makler), banks and increasingly direct online channels such as DA Direkt.
Term policies are underwritten on health questions and, for larger sums, medical checks. You choose a sum insured and a term, and premiums are typically level for the whole term. Endowment contracts historically offered a guaranteed interest rate plus surplus participation, though guaranteed rates have fallen sharply in the low-interest era, pushing many newer contracts toward fund-linked (fondsgebunden) designs.
Family protection — A term policy replaces lost income and covers debts such as a mortgage if the main earner dies, giving dependants financial breathing room.
Low entry cost — Pure term cover for a healthy younger applicant can start from roughly €12 to €15 per month for a meaningful sum insured.
Flexible sum and term — You match cover to your obligations, for example aligning the term and sum to a Baufinanzierung repayment schedule.
Tax treatment of payouts — Death benefits paid to beneficiaries are generally free of income tax, though inheritance tax rules can apply depending on who owns the policy.
Start by separating protection from saving. If your goal is to protect a family or a mortgage, term cover almost always delivers far more protection per euro than an endowment policy. Decide the sum insured by adding up debts, future income needs and children's costs.
Check the term against your real obligations, be honest on health questions to avoid disputes at claim time, and compare the guaranteed net premium (Nettobeitrag) as well as the headline gross premium, since insurers can charge up to a stated maximum. For endowment or fund-linked contracts, scrutinise costs and any guaranteed versus projected values.
The market features large composite insurers and specialist life carriers. Allianz Lebensversicherung and Zurich Lebensversicherung are among the largest, alongside Württembergische, Nürnberger Leben, HanseMerkur, Helvetia Deutschland and Debeka, a major mutual insurer. DA Direkt is positioned as a direct, online-first option. Coverage on this page includes offers from these providers so you can compare sums insured, terms and premiums side by side.
For pure term insurance, premiums depend heavily on age, health, smoker status, sum insured and term. A healthy non-smoker in their early thirties can often secure substantial cover from around €12 to €15 per month, rising with age, higher sums and any health loadings. Endowment and fund-linked policies cost considerably more because part of the premium is saved or invested; here the important figure is the effect of costs on the final payout, not just the monthly outlay.
Life insurers are authorised and supervised by BaFin under the German Insurance Supervision Act. Policyholders benefit from statutory protection mechanisms, including Protektor, the guarantee scheme that can continue contracts if a life insurer fails. Contracts include a statutory cancellation and withdrawal right after conclusion, and insurers must provide clear pre-contract information on costs and surrender values. Complaints can be escalated to the insurance ombudsman (Versicherungsombudsmann).
Do I need Risiko or Kapital cover? If your priority is protecting dependants at low cost, term (Risiko) cover is usually the better fit. Kapital and fund-linked policies mix insurance with saving and suit different goals.
Will my beneficiaries pay tax? The death benefit is generally free of income tax, but inheritance tax may apply depending on policy ownership and the beneficiary relationship. Structuring who owns and who is insured can matter.
Can I cancel an endowment policy early? Yes, but early surrender often returns less than you paid in because of upfront costs, so check the surrender value first.
The cheapest Life Insurance in Germany is €12 /month from Nürnberger Leben.
Giraffy tracks 5 life insurance products across Nürnberger Leben,Debeka,DA Direkt,HanseMerkur,HUK-COBURG insurers in Germany. The lowest tracked monthly premium is €12 /month. Premiums vary significantly by age, health, cover amount, and policy type — a healthy non-smoker in their 30s can typically get a large sum of level term cover for a modest monthly premium. Compare quotes to see rates for your specific profile.
Term life insurance pays out only if you die within the policy term (e.g. 20 or 25 years) — premiums are lower and it suits protecting a mortgage or dependants during working years. Whole-of-life insurance guarantees a payout whenever you die, with higher premiums. Most people with dependants and a mortgage benefit most from term cover.
A common starting point is 10× your annual income, or enough to pay off your mortgage plus 3–5 years of income replacement for your dependants. Consider: outstanding debts, partner's income, number of dependants, childcare costs, and funeral expenses. A financial adviser can model your specific needs.
Level term pays a fixed lump sum if you die during the term — suitable for covering a fixed obligation like family living costs. Decreasing term reduces in line with an outstanding debt (typically a repayment mortgage) — it's cheaper but pays less over time as it mirrors your reducing debt.
Yes — most insurers will cover pre-existing conditions, but may charge a higher premium, exclude the specific condition from the payout, or add a postponement period. Using a specialist broker increases your chances of finding the right cover at the best price without unnecessary application declines.
In many markets — including the UK and most GCC countries — life insurance payouts to named beneficiaries are exempt from income tax. However, the payout may form part of your estate for inheritance tax purposes. Writing your policy in trust removes it from your estate and speeds up the claims process significantly.