In Germany, nearly 90 percent of the population are either required by law to make social insurance contributions or they are insured voluntarily. The German social security system is a statutory insurance system. It insures against major risks and consequences due to sickness, unemployment, aging and accidents at work. The following insurances are included in the social security:
- The statutory unemployment insurance, which ensures sustenance in the event of unemployment.
- The statutory pension insurance provides income during the age of retirement and also in the event of a disability preventing you from being able to work or in the event of death to the benefit of any surviving dependents.
- The statutory health insurance helps to ensure and restore health, and alleviates the effects of sickness and disease.
- The statutory accident insurance offers rehabilitation in the case of a work accident.
- The statutory long-term care insurance ensures financial support to people in need of care.