British Insurance or German Pension?
A lot of people might wonder why you should consider British insurance. Germany offers a relatively decent pension plan, so what’s the point in looking at anything different? British life insurance is particularly impressive for investors who can make significantly more profits with investing into the British life insurance than they can with German pensions.
British Car Insurance While Working in Germany
If you are working in Germany you may wonder if about the validity of your British insurance. Germany will honor your car insurance, for example, if you carry your green card with you to shop in case of an accident or other issue.
A green card is internationally recognized as a form of advising officials that you have, at the least, the minimum insurance required. Your insurer should never charge you to obtain a copy of this card (some places do have administration charges, but the card itself is free). You should be able to simply ask your provider to give you one. While you technically don’t have to carry this card with you – it is not a requirement by any means – it can make things easier if there is a need for it. Third party coverage extends across Europe free of charge, so you should be perfectly fine to drive in Germany even with British insurance. Germany car repair can be pricey so if you will be in Germany any length of time, consider taking out vehicle breakdown coverage. If you plan to be living and working in Germany for any amount of time, making sure that your British car insurance is in order is important. If you decide to live in Germany, however, you will need to change over to a German insurance provider.
Germany Inspired British National Insurance
Many people think that the first national insurance was British insurance. Germany, however first started with a national insurance policy in 1884. This national policy was to protect against illness. It wasn’t until 1908 when David Lloyd George said that national insurance was key. Introduction of the National Insurance act gave the working class of Britain the very first system of contribution based insurance that protected against both unemployment and illness. Not everyone thought this was a good idea, and many of the Conservative party argued against the act, but to no avail.
As a result, the National Insurance Act provided a benefit for unemployed citizens for a brief amount of time, hopefully giving them time to locate another job – fifteen weeks. It also offered up a health insurance that protected citizens, allowing them sick leave for up to a total of twenty-six weeks, at 10 shillings a week for the first thirteen and then five per for the following thirteen weeks. Citizens also were able to take advantage of treatment for tuberculosis as well as see a doctor when ill.
The National Insurance Act did a lot for the lives of British citizens during the time, but it is interesting, is it not, to discover that for British insurance, Germany was ultimately responsible.