Longterm Care Insurance

  • Long term care insurance with daily cash benefits, nursing care costs and annuity insurance
  • Comprehensive coverage in need for nursing care
  • Financial protection for relatives of persons in need of nursing services
  • Can be combined with other forms of benefit schemes as supplementary insurance
  • Efficient tariffs and tariff combinations

There are already more than 2 million persons in need of nursing care in Germany today – an increasing trend. The problem: The benefits of the statutory nursing care insurance are limited by maximum amounts. This means that all costs of care beyond this must be financed by the needy themselves or close family members.

The care reform came into force on July 1 2008
The nursing care insurance introduced in 1995 has been in deficit for years and now experiences its first major reform from which the patient, their relatives and not least the nurses are to benefit. The services will gradually be raised until 2012. For this, the contribution was increased by 0.25 percentage points to 1.95 percent since July 1 2008, from 1.95 so far to 2.2 percent for those without children.

No sustainability in financing

The “Rürup-Kommission” assumes in a current population forecast that the number of people needing care will rise to around 3.4 million by 2040. Despite the premium increase, long-term care insurance is not financially secure in the long run. To avoid financial cutbacks in nursing care, we recommend a suitable private nursing care insurance.

OBN suggests: The demographic development of the population has a drastic effect on the statutory nursing care insurance: On the revenue side, the number of contributors is shrinking and on the expenditure side, the number of recipients is increasing. Therefore, the signing of a private care insurance is a good idea.

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