Health & Protection in Israel

Living abroad takes a lot of work and budgeting that's why for many, insurance is just an added expenditure. The thought of delaying yourself from getting protection abroad can cause potential risks to your finances and can even compromise your health. If not yet included in your package, getting insurance in Israel is a 'must do' for every expat and can save you a lot of money from the smallest medical needs to life-changing emergency situations. We have here a few guidelines on how you can get and make the most out of your insurance while living in Israel.

Getting Insurance

Aside from the basic medical coverage that you have from your employer, you can also get health or life insurance from private companies. You can ask your HR office if they have any referrals, or search on your own by browsing through the online portals of the international and local providers in the country. One of the known names among expats in Israel is David Shield, a locally based global provider of health insurance. You can also purchase life and non-life coverage from Clal Insurance Enterprises Holdings Ltd (formerly known as Yuval Insurance Company Ltd), one of Israel’s largest local insurance companies.

You should make sure that the provider you are purchasing your plan from is accredited by the Israel Ministry of Finance. Expats can also seek help from this government sector for any issues or complaints they have regarding their insurance company.

Though it is highly important for you to get protection, it is still best that you discuss thoroughly with your agent the full coverage of your chosen plan. It will help you utilise your insurance and avoid any future misunderstandings with your provider.

Importance of Insurance

The rise in the Mediterranean Sea level and overflowing rivers caused by the stormy weather in Israel often leads to the flooding of several areas. Nature hazards such as snow storm and forest fires are also common and the country. As of the moment, Israel is considered to be left behind when it comes to dealing with natural disasters. Expats, on the other hand, can still protect themselves by getting health and property insurance. These types of coverage will assure you that adequate medical attention during an emergency situation and repair or replacement of your properties will not put your finances at risk.

Local Insurance in Israel

Life and motor insurers are the primary contributors to the total revenue of Israeli insurance industry which continues to grow steadily. Currently, the five dominant players in the market are Migdal, Clal, Harel, Phoenix and Menorah-Mivtahim. Israel has a total of 13 life insurers and 24 general insurers that are all under the supervision of the Israel Ministry of Finance.

What does it mean for you as an expat?

All vehicle owners are required by law to have at least one of the three primary types of insurance before they can drive in Israel. The most basic one is called Bituach Chova or Compulsory Insurance which only covers bodily injuries regardless which party is at fault. The Chova policy will cover the driver, pedestrians and passengers involved in the collision but doesn’t include any person from the other vehicle. You can also ask your provider about the Bituach Makif (comprehensive insurance) and Tzad Gimmel (3rd Party Insurance) to complete all three policies for your vehicle. Aside from the many local brokers, expats in Israel can also consider getting several types of policies from the multinational companies in the country. Having international insurance in Israel can give you peace of mind that you will have medical or property coverage anywhere you are.