Do You Need Life Insurance in Germany? (2026)
The verdict
The life cover that matters in Germany is Risikolebensversicherung, term life: it pays the Versicherungssumme if the insured person dies during the term, and nothing otherwise. No savings component, no surrender value, no payout at the end. It is not compulsory. On the catalogue reference profile, age 30, non-smoker, EUR 200,000 of cover over a 30 year term, CosmosDirekt costs EUR 105.84 a year, Allianz through DLVAG EUR 123.48 and Hannoversche EUR 126.36. At larger sums the order reverses: at EUR 400,000 over 30 years, Hannoversche is the cheapest of six quotes at EUR 29.78 a month.
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Which life insurance policy is worth buying in Germany?
Four insurers whose premium is documented on a named profile, ordered by our editorial rating. All four are pure risk contracts: no savings element, suicide excluded in the first three years, cancellable monthly. What separates them is the premium at your sum and how hard the health questions are.
Always compare on your own profile. The order below holds at EUR 200,000 over 30 years; at EUR 400,000 the cheapest insurer changes. For which insurers sell which line in Germany at all, see the overview of insurance providers.
Sorted by annual premium, not our recommendation. The default view is our ranking, weights published below.
Hannoversche Lebensversicherung
Hannoversche Risikoleben T1-Basis
Best at large sums. The cheapest of six quotes at EUR 400,000 over 30 years, and up to EUR 850,000 two health questions are enough for property finance.
See Hannoversche- Sum insured
- EUR 200,000
- Payout at maturity
- None
- Waiting period
Waiting period
The gap between signing and the day cover starts. Anything that appears during it is never paid, not even later, so shorter is better.
- None
- English documents
- No
More details
- Notice period
Notice period
How far ahead of the renewal date you must cancel in writing (Kündigungsfrist). Miss the window and the contract runs another full term.
- Cancellable monthly
- Suicide clause
- Excluded in the first 3 years
- Underwriter
Underwriter
The insurance company that actually carries the risk and pays the claims. It is not always the brand whose name is on the policy.
- Hannoversche Lebensversicherung
Prices as of August 2026, verify on the provider site.
Key information
- Premium
- EUR 126.36 a year on the reference profile, and cheapest of six quotes at EUR 400,000
- Cover limit
- EUR 200,000 on the reference profile, with an Exklusiv option paying early on cancer, stroke or heart attack
- Health questions
- Two health questions up to EUR 850,000 for property finance
- Cancellation
- Cancellable monthly
- Service
- Surcharges for risky jobs and hobbies
- Language
- German only
Best for Families and property buyers who need a large sum insured
CosmosDirekt Lebensversicherungs-AG
CosmosDirekt Risikoleben CR Basis
Cheapest premium. The cheapest of five quotes on the reference profile: EUR 105.84 a year for EUR 200,000 over 30 years, cancellable monthly.
See CosmosDirekt- Sum insured
- EUR 200,000
- Payout at maturity
- None
- Waiting period
Waiting period
The gap between signing and the day cover starts. Anything that appears during it is never paid, not even later, so shorter is better.
- None
- English documents
- No
More details
- Notice period
Notice period
How far ahead of the renewal date you must cancel in writing (Kündigungsfrist). Miss the window and the contract runs another full term.
- Cancellable monthly
- Suicide clause
- Excluded in the first 3 years, then paid
- Underwriter
Underwriter
The insurance company that actually carries the risk and pays the claims. It is not always the brand whose name is on the policy.
- CosmosDirekt Lebensversicherungs-AG
Prices as of August 2026, verify on the provider site.
Key information
- Premium
- EUR 105.84 a year, the cheapest of five quotes on the reference profile
- Cover limit
- EUR 200,000 of cover, raisable later under the Nachversicherungsgarantie
- Health questions
- Detailed health questions, and a smoker pays roughly double
- Cancellation
- Cancellable monthly
- Service
- No premium rise on running contracts in over 30 years, per CosmosDirekt
- Language
- German only
Best for Younger non-smokers with a mid-sized sum insured
Deutsche Lebensversicherungs-AG
Allianz Risikoleben (DLVAG) Basis
For bundles and loans. EUR 123.48 a year on the reference profile, with bundle discounts and falling-sum variants for financing.
See Allianz- Sum insured
- EUR 200,000
- Payout at maturity
- None
- Waiting period
Waiting period
The gap between signing and the day cover starts. Anything that appears during it is never paid, not even later, so shorter is better.
- None
- English documents
- No
More details
- Notice period
Notice period
How far ahead of the renewal date you must cancel in writing (Kündigungsfrist). Miss the window and the contract runs another full term.
- Cancellable monthly
- Suicide clause
- Excluded in the first 3 years
- Underwriter
Underwriter
The insurance company that actually carries the risk and pays the claims. It is not always the brand whose name is on the policy.
- Deutsche Lebensversicherungs-AG
Prices as of August 2026, verify on the provider site.
Key information
- Premium
- Bundle discounts with other Allianz policies
- Premium
- EUR 123.48 a year here, but 59 percent above the cheapest quote at EUR 400,000
- Cover limit
- EUR 200,000 on the reference profile, with a falling-sum variant for loans
- Cancellation
- Cancellable monthly
- Service
- An agent network for the application and the claim
- Language
- German only
Best for People who already hold other Allianz policies
ERGO Lebensversicherung
ERGO Risikolebensversicherung
Falling-sum options. A known brand with falling-sum cover for loans, but 35 percent above the cheapest quote on the same profile.
See ERGO- Sum insured
- EUR 400,000
- Payout at maturity
- None
- Waiting period
Waiting period
The gap between signing and the day cover starts. Anything that appears during it is never paid, not even later, so shorter is better.
- None
- English documents
- No
More details
- Notice period
Notice period
How far ahead of the renewal date you must cancel in writing (Kündigungsfrist). Miss the window and the contract runs another full term.
- Cancellable monthly
- Suicide clause
- Excluded in the first 3 years
- Underwriter
Underwriter
The insurance company that actually carries the risk and pays the claims. It is not always the brand whose name is on the policy.
- ERGO Lebensversicherung
Prices as of August 2026, verify on the provider site.
Key information
- Premium
- No published annual premium; EUR 40.35 a month on the EUR 400,000 profile, 35 percent above Hannoversche
- Cover limit
- EUR 400,000 on the quoted profile, with falling-sum options
- Cancellation
- Cancellable monthly
- Service
- Priced above the direct insurers
- Language
- German only
Best for People covering a loan with a falling sum insured
Insurers with no published premium
Five further insurers in the catalogue carry no documented premium: the number comes from a broker, an agent or a calculator that wants a profile first. We do not estimate it. These cards carry the range the catalogue records, and say plainly that the exact premium is open.
Lebensversicherung von 1871
LV 1871 Risikoleben
Best underwriting. Morgen & Morgen rates the tariffs and the underwriting quality sehr gut, and the catalogue highlights fair handling of health questions.
See LV 1871- Sum insured
- EUR 200,000
- Payout at maturity
- None
- Waiting period
Waiting period
The gap between signing and the day cover starts. Anything that appears during it is never paid, not even later, so shorter is better.
- None
- English documents
- No
More details
- Notice period
Notice period
How far ahead of the renewal date you must cancel in writing (Kündigungsfrist). Miss the window and the contract runs another full term.
- Cancellable monthly
- Suicide clause
- Excluded in the first 3 years
- Sales channel
- Brokers only
Prices as of August 2026, verify on the provider site.
Key information
- Premium
- No published premium, typically EUR 9 to 12 a month
- Cover limit
- EUR 200,000 of cover on the reference profile
- Health questions
- Fair handling of health questions
- Cancellation
- Cancellable monthly
- Service
- Morgen & Morgen rates tariffs and underwriting sehr gut
- Language
- Broker channel only, and German only
Best for Applicants with a medical history or awkward health questions
Alte Leipziger Lebensversicherung
Alte Leipziger Risikoleben
Mutual insurer. A mutual insurer with good test grades, though the premium only comes through a broker or an agent.
See Alte Leipziger- Sum insured
- EUR 200,000
- Payout at maturity
- None
- Waiting period
Waiting period
The gap between signing and the day cover starts. Anything that appears during it is never paid, not even later, so shorter is better.
- None
- English documents
- No
More details
- Notice period
Notice period
How far ahead of the renewal date you must cancel in writing (Kündigungsfrist). Miss the window and the contract runs another full term.
- Cancellable monthly
- Suicide clause
- Excluded in the first 3 years
- Underwriter
Underwriter
The insurance company that actually carries the risk and pays the claims. It is not always the brand whose name is on the policy.
- Alte Leipziger Lebensversicherung
Prices as of August 2026, verify on the provider site.
Key information
- Premium
- No published premium, typically EUR 10 to 13 a month
- Cover limit
- EUR 200,000 of cover on the reference profile
- Cancellation
- Cancellable monthly
- Service
- A mutual insurer with good test grades
- Language
- German only
Best for People who want a long-term stable insurer
Delta Direkt Lebensversicherung
Delta Direkt Risikoleben
Budget direct insurer. A public online calculator and, per the catalogue, typically among the cheapest, at the cost of thinner service.
See Delta Direkt- Sum insured
- EUR 200,000
- Payout at maturity
- None
- Waiting period
Waiting period
The gap between signing and the day cover starts. Anything that appears during it is never paid, not even later, so shorter is better.
- None
- English documents
- No
More details
- Notice period
Notice period
How far ahead of the renewal date you must cancel in writing (Kündigungsfrist). Miss the window and the contract runs another full term.
- Cancellable monthly
- Suicide clause
- Excluded in the first 3 years
- Underwriter
Underwriter
The insurance company that actually carries the risk and pays the claims. It is not always the brand whose name is on the policy.
- Delta Direkt Lebensversicherung
Prices as of August 2026, verify on the provider site.
Key information
- Premium
- A public calculator, typically EUR 8 to 11 a month
- Cover limit
- EUR 200,000 of cover on the reference profile
- Cancellation
- Cancellable monthly
- Service
- Thinner service than the agent-served insurers
- Language
- German only
Best for Price-focused buyers who want a purely online journey
NÜRNBERGER Lebensversicherung
Nürnberger Risikoleben
Established brand. An established life insurer sold through agents and brokers, with no documented premium in the catalogue and no price advantage.
See Nürnberger- Sum insured
- EUR 200,000
- Payout at maturity
- None
- Waiting period
Waiting period
The gap between signing and the day cover starts. Anything that appears during it is never paid, not even later, so shorter is better.
- None
- English documents
- No
More details
- Notice period
Notice period
How far ahead of the renewal date you must cancel in writing (Kündigungsfrist). Miss the window and the contract runs another full term.
- Cancellable monthly
- Suicide clause
- Excluded in the first 3 years
- Underwriter
Underwriter
The insurance company that actually carries the risk and pays the claims. It is not always the brand whose name is on the policy.
- NÜRNBERGER Lebensversicherung
Prices as of August 2026, verify on the provider site.
Key information
- Premium
- No published premium, typically EUR 10 to 14 a month
- Cover limit
- EUR 200,000 of cover on the reference profile
- Cancellation
- Cancellable monthly
- Service
- An established brand with an agency network
- Language
- German only
Best for Buyers who want to sign through a local agency
Their respective life entities
HUK-Coburg, Debeka, AXA and Signal Iduna
Group record. Four established houses in one catalogue record: worth a quote for bundle economics, and at Debeka for member value, but with no transparent online pricing.
See HUK-Coburg- Sum insured
- EUR 200,000
- Payout at maturity
- None
- Waiting period
Waiting period
The gap between signing and the day cover starts. Anything that appears during it is never paid, not even later, so shorter is better.
- None
- English documents
- No
More details
- Notice period
Notice period
How far ahead of the renewal date you must cancel in writing (Kündigungsfrist). Miss the window and the contract runs another full term.
- Cancellable monthly
- Suicide clause
- Excluded in the first 3 years
- Underwriter
Underwriter
The insurance company that actually carries the risk and pays the claims. It is not always the brand whose name is on the policy.
- HUK-COBURG Leben, Debeka Leben, AXA Leben, SIGNAL IDUNA Leben
Prices as of August 2026, verify on the provider site.
Key information
- Premium
- No transparent online prices, typically EUR 10 to 16 a month
- Cover limit
- EUR 200,000 of cover on the reference profile
- Cancellation
- Cancellable monthly
- Service
- Bundle economics with other lines, Debeka strong for public-sector members
- Language
- German only
Best for People already insured with one of these houses, and public-sector employees
What does Risikolebensversicherung cover?
Exactly one thing: if the insured person dies within the term, the beneficiaries receive the agreed Versicherungssumme. There is no savings component, no maturity payout and no surrender value. Two records in this catalogue write it into their exclusions in as many words: no payout on survival, because it is a pure risk product.
That makes it the second or third policy you buy, not the first. If nobody depends on your income you do not need it, and if you are looking for a first policy in Germany, that is far more likely to be private liability cover, which costs much less and is called on far more often.
Typically covered
- Death of the insured person during the term, at the agreed sum insured
- A falling sum insured as a loan variant, at Allianz and ERGO
- At Hannoversche, an optional immediate payout on cancer, stroke or heart attack
- At CosmosDirekt, an optional premium-waiver module on occupational disability
Not covered
- Outliving the term: there is no payout and no surrender value
- Suicide in the first three years, on all nine contracts
- English documents: per the catalogue no insurer here offers them
How large should the Versicherungssumme be?
The sum drives the premium, and the cheapest insurer moves with it. At EUR 200,000 over 30 years for a 30-year-old non-smoker, CosmosDirekt leads at EUR 8.82 a month, ahead of Allianz DLVAG at EUR 10.29, Hannoversche at EUR 10.53, Ideal at EUR 10.96 and R+V at EUR 15.94. At EUR 400,000 over 30 years for a 35-year-old electrician it reverses: Hannoversche EUR 29.78, ERGO EUR 40.35, CosmosDirekt EUR 42.17, Allianz EUR 47.46.
The second lever is the health questions, and they move more money than the price gap. CosmosDirekt states plainly that a smoker pays roughly double, and Hannoversche applies surcharges for risky jobs and hobbies. In the other direction, Hannoversche accepts up to EUR 850,000 for property finance on two health questions, and the catalogue singles out LV 1871 precisely for fair handling of health questions.
If you may want to raise the sum later, look for a Nachversicherungsgarantie: the catalogue records one at CosmosDirekt, which lets the sum insured be raised without a fresh health assessment. For how this premium sits next to every other line, see the insurance price research.
How much does life insurance cost in Germany?
Published annual premiums in this catalogue, on the reference profile of age 30, non-smoker, EUR 200,000 of cover and a 30 year term: CosmosDirekt EUR 105.84, Allianz through DLVAG EUR 123.48 and Hannoversche EUR 126.36. That is under EUR 11 a month for a sum that buys a surviving family years of room.
Five further insurers in the catalogue, LV 1871, Alte Leipziger, Nürnberger, Delta Direkt and the grouped record for HUK-Coburg, Debeka, AXA and Signal Iduna, carry no documented premium. What is recorded there is a typical range only, from EUR 8 to 11 a month at Delta Direkt up to EUR 10 to 16 a month on the grouped record. We publish those ranges as what they are, and not as a price.
One warning about the sales channel: the Restschuldversicherung a bank offers alongside a loan is not the same product and is sold at the point of sale on commission. If your bank asks for cover, price it against a standalone Risikolebensversicherung. For every line at once, see insurance in Germany.
Sources: provider tariff pages and the Morgen & Morgen 04/2026 comparison, accessed 2026-08-20.
Frequently Asked Questions
What is Risikolebensversicherung?
Pure death cover: if the insured person dies during the term, the Versicherungssumme is paid out. If you outlive the term there is no payout. All nine contracts in this catalogue are pure risk contracts rather than endowment policies, so they carry no savings component and no surrender value.
Is life insurance compulsory in Germany?
No. Nothing in this catalogue is required by law. Banks do commonly expect it in practice when they finance a property, and for that case the catalogue records a simplified two-question acceptance process at Hannoversche up to EUR 850,000.
How much does term life cover cost?
On the catalogue's reference profile, age 30, non-smoker, EUR 200,000 of cover and a 30 year term: CosmosDirekt EUR 105.84 a year, Allianz through DLVAG EUR 123.48, Hannoversche EUR 126.36. On a different profile the order flips: at EUR 400,000 over 30 years for a 35-year-old electrician, Hannoversche is the cheapest of six quotes at EUR 29.78 a month.
Does the policy pay out after a suicide?
All nine contracts in this catalogue exclude suicide in the first three years. After that period the records state that the sum is paid.
Are the documents available in English?
According to the catalogue, at none of the nine insurers. Term life is therefore the line where newcomers are most likely to need help reading the health questions, because a wrong answer there can cost the payout.
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