The social insurance is a statutory insurance that provides protection against risks such as unemployment, the need for care or illness. It also includes the payment of the pension. As singapore expat life insurance, the half of the contribution is from the employer or transferred to the employer, the other half by the employee and paid the workers themselves. With the entry into an employment relationship, the amounts are automatically deducted from the monthly salary. The amount of the contribution is automatically based on the amount of income.
Statutory social insurance includes:
Health insurance : Statutory health insurance covers the costs that you and your family will have to bear in the event of illness. In addition, it pays many costs for preventive health care or rehabilitation measures. If you are unable to work for a long time because of an illness and therefore do not receive a salary from your employer, the health insurance company pays sickness benefits as financial compensation. Above a certain income level, as well as a freelancer or self-employed or business owner or business owner, you can choose between statutory or private health insurance.
Unemployment insurance : If you have become unemployed through no fault of your own, you will receive financial support from the state. Important: At least three months before the end of employment, you are obliged to register with the Employment Agency as a jobseeker. If you do not register in time, there may be a blocking period during which you will not receive any unemployment benefit.
Long-term care insurance : If you can no longer look after yourself due to illness or old age, long-term care insurance takes over for you. This insurance also supports people who care for sick relatives. If you have statutory health insurance, you automatically become a member of statutory long-term care insurance. However, if you have private health insurance, you should also take out private long-term care insurance.
Accident insurance : Accidents at work and their consequences, occupational diseases and accidents on the way to and from work are covered by the accident insurance benefits.
The home insurance is liable for accidental damage in your household, resulting from burglary, fire or water damage. This also includes the damage that has occurred in the neighborhood as a result. If you want to secure yourself financially in the event of a serious illness that leads to incapacity for work, you can take out disability insurance , which pays a monthly payment depending on the amount of insurance.