R+V Versicherung launches state-subsidized long-term care benefit

Frankfurt, Germany – Effective June 18, 2013, R+V Versicherung AG is offering the "R+V-Pflege FörderBahr", a state-subsidized private supplementary long-term care insurance. The insurer states that this product provides benefits that substantially exceed the minimum requirements set by law across various care levels.

The policy's provisions are particularly notable for care levels 0 (dementia) and I, where R+V pays 30 percent of the daily benefit defined for care level III. For care level II, the payout is 70 percent, surpassing the legal minimums of 20 and 30 percent respectively. These enhanced benefits are significant given the increasing prevalence of conditions like dementia.

No health assessment is required to take out the insurance, and there are no risk surcharges or exclusions on benefits. The insurance company automatically increases the daily benefit every three years in line with inflation, up to a maximum of 10 percent, provided the insured has not yet required care. In cases of accident-related need for care, R+V also waives the standard five-year waiting period.

Individuals aged 18 and over who are insured under the statutory long-term care insurance system and have not yet received any benefits are eligible. The state supports the policy with a monthly subsidy of €5 for a minimum personal contribution of €10 per month. R+V handles the application and administration of these state subsidies on behalf of its customers.