In Romania, insurance is considered an essential financial tool. It helps the residents to live their life with few worries knowing that they can get financial assistance in case of an accident or disaster. Essentially, it enhances financial security.
Insurance also generates financial resources. By taking any kind of insurance, one gets varied financial resources in making them lead a good life. Moreover, in some way, it promotes economic growth in the country. It can help you overcome any kind of problem in your life.
Health Insurance in Romania
Every legal resident in Romania benefits from the national health insurance system, just like in Denmark. However, it only happens when they commence making contributions. The people who do not have a social health insurance contribution that is applied to 6 gross minimum wages for about 12 months.
The people getting free medical insurance in Romania:
- Retirees
- People getting social assistance
- People getting the unemployment benefit
- Young individuals from 18 years to 26 years old
- Children from 0 to 18 years of age
Also, the people with no medical insurance can get health assistance only if:
- They are pregnant women as well as the ones who gave birth recently
- Urgently need operation
- Have HIV virus or diagnosed with AIDS
- Any individual diagnosed with tuberculosis
The services an individual with public health insurance include:
- Surgical services as well as emergency medical services
- Medical devices
- In-home medical care
- Day as well as continuous hospitalization services
- Medicines with or even with no personal contribution to the outpatient treatment
- Dental services
- Specialist paraclinical medical services mainly for the outpatients
- Medical services for the chronic illnesses
- Prevention services, including diseases risk assessment as well as consultations
- Medical services for flare-ups of chronic illnesses or acute conditions.
Temporary residents staying in Romania, the EU, or EEA citizens are entitled to medical benefits. However, they should have European Health Insurance Card. Expats can also take private insurance. It is a good option as it offers world-class healthcare. The staff is well trained, and they can even speak English.
Unemployment Insurance in Romania
When you lose your job involuntarily in Romania, in some cases, you may be entitled to some benefits. Also, one may get the benefits if the person does not get a job 60 days after graduating. The benefits are called indemnizație de șomaj or rather unemployment insurance.
The people who can get unemployment benefits:
- Romania citizens earning income and employed in the nation
- Stateless individuals or foreign citizens who reside in Romania and are employed to earn income
- The Romanian citizens who work abroad.
However, to get the benefits, you should fulfill the following:
- Application of unemployment benefit in 12 months after the agency, service, or employment relationship has elapsed
- Legally resides in Romania
- Became jobless involuntarily
- Fit to work
- Having no income or even income from the authorized activities is below the value of the reference social indicator
- Registered at any of the territorial Agencies for Employment
- Aged between 16 to the statutory retirement age
- You should have made contributions in the past 12 months of 24 months of being unemployed
The unemployment insurance is computed based on the reference social indicator value. The other things considered include the period you made contributions and the income of the person having unemployment insurance. As of 2021, the value of RSI was RON 500. If you have contributed for 1 year, then you get 75% of the money, and a graduate gets 50% of 500.
Car Insurance
In Romania, third-party insurance, also called RCA, is mandatory for every vehicle that operates on public roads. The insurance covers bodily harm and death. It also covers the material damage caused to the third parties.
On the other hand, comprehensive insurance covers political violence, towing and labor, worldwide liability, and physical damage caused to yourself as well as the third party. It covers everything in RCA and more.
Home Insurance
As a Portuguese, unforeseen events occur everywhere. Thus, the home insurance packages give you peace of mind and protect your home. The insurance offers protection for risks, including home assistance, civil liability, fire, and natural catastrophizes. Also, some of the packages can include water damage and disposable assets. Apart from those, additional coverage can be provided against short circuits, accidental damage, vandalism, and theft.
Romania Life Insurance
To the Romanians, life insurance is very important. It helps in replacing the lost income. You should take life insurance and it does not matter whether you are single, married, or even have kids. Basically, it is important for everyone as it can help in covering the funeral expenses.
Moreover, life insurance may help in paying future education expenses. Also, it can help in financially protecting the family. You may have savings, but that alone is not enough to cover expenses for decades in case something happens to you. Lastly, it can assist your loved ones in paying off their debts.
Travel Insurance
When applying for travel insurance when coming to Romania, you need insurance covering up to €30,000 in medical expenses. Insurance is also important for the Romanian residents planning to visit other states such as Austria. It helps in covering the risks against travel.
The travel insurance covers medical emergencies. You know sickness does not call. Thus, you can even get sick when in a foreign country where medical services might be very expensive, and that is where travel insurance helps. Also, the insurance covers travel disruptions and assistance while on your trip.
Pet Insurance
Do you have a pet? Then you should think of getting it for the furriest family member. The insurance offers unexpected pet cases in keeping your pet healthy and safe. It makes a Romanian pet owner to have peace of mind because they will be taken care of when sick, dead, or even lost.
Popular insurance companies in Romania
- MetLife
- ASIGEST Insurance & Reinsurance Broker Inc.
- NN group
- Generali Romania Asigurare Reasigurare SA
- Allianz Trade
- ASIGEST Insurance & Reinsurance Broker Inc.
- Grawe România Asigurare S.A., Cluj Napoca
- Marsh Broker De Asigurare Reasigurare S.R.L.
