German families risk €1,000 monthly shortfall without life‑insurance coverage

A study by the German Insurance Association (GDV) shows that only about half of German households carry a risk‑life insurance policy. More than 20 million families lack this protection, leaving a financing gap of roughly €1,000 per month after the death of a breadwinner. The study estimates that a typical four‑person household spends €4,599 a month, with €3,473 on core needs; if one earner loses income and reduces work by 30 %, the monthly shortfall approaches €1,000.

Coverage rates differ by income, household type and region. In households earning under €3,250 net per month, only 3‑10 % have risk‑life insurance, while in those above €7,500 the figure rises to 46 %. Couples with minor children are the most likely to be insured (≈45 %), whereas single parents and single‑person households fall below 20 %. The GDV stresses that many existing policies are under‑insured.

A parallel consumer guide outlines the broader set of insurance products considered essential in Germany and Denmark, including private liability, disability, auto, property and specialized liability (e.g., pet or construction). It recommends a liability coverage of at least €10 million and advises early purchase of disability insurance to protect income, underscoring the overall importance of comprehensive personal insurance.