Insurance in Turkey | Need to Know Types & Laws

The insurance sector in Turkey has many advantages that qualifies it to head the list of insurance systems in the world. In fact, it is categorized by having multiple types needed by both citizens as well as residents of Turkish territory, at all times.

What are the types of insurance in Turkey?

On Turkish territory, there are many insurance companies distinguished by offering its special services. For example, health, social, technical, individual, real estate, and many other insurance services that provide comfort and reassurance to individuals. In a previous article, we have tackled the types of real estate insurance in Turkey. Hence, we will address the most prominent insurance services in Turkey as follows:

Savings Deposit Insurance

It aims to protect the deposits insured by individuals at the insurance company. Furthermore, it provides special coverage to guarantee the protection of the said deposits.

Traffic insurance

Some Turkish regions suffer from traffic congestion, which necessitate the presence of traffic insurance companies in Turkey. Consequently, such insurance will cover the damages that may face vehicle owners. This insurance service is divided into two parts:

Compulsory traffic insurance

Compulsory insurance in Turkey is obligatory. It is imposed by the Turkish government on all vehicle owners. This type of insurance covers the liability of the insured and the registered vehicle driver, towards third parties, for bodily injury caused by the insured vehicle.

Comprehensive Traffic Insurance (Non-Compulsory) / KASKO

It aims to reimburse for traffic accidents, thefts and damages caused by natural disasters.  It guarantees that the vehicle owner receives compensation for all damages caused to the vehicle as well as the driver in all cases. In other words, whether you are the cause of the accident or the other party.  Although this insurance is optional, yet it covers all mandatory insurance requirements as well.

Health Insurance & Social Security

High-quality health services are offered in Turkey to all people legally residing on Turkish territory, as well as citizens. They can easily, with simple steps, obtain public and private health services and at reasonable prices as well.

We will demonstrate to you the types of health insurance and how to obtain them from the Turkish government departments. Eventually, with very easy steps, anyone can obtain health insurance and use it for many necessary purposes in his life.

The Turkish government provides many types of health insurance and social security, according to nationality. That is to say, if he is a Turkish citizen, or a foreigner legally residing in Turkey. These services also differ depending on the income level.

Green Card Insurance – Yeşil Kart

The Turkish government grants a green card to families in which an individual actually gets less than a third of the net minimum wage. In other words, family members holding a green card benefit from all government health services only for free. Whereas, they are unable to obtain non-governmental or private medical services.

Public Medical Insurance/ GSS

A Turkish citizen can obtain public health insurance if the per capita income exceeds a third of the minimum salary approved by the Turkish state. However, the citizen must pay 3% of the value of his approved income per person.

Most family members can obtain public insurance as per the following conditions:

 – Father and mother in all cases

– Children under 18.

– Children in High school under 21 years old.

– University students under 25 years old.

Moreover, foreign individuals residing in Turkey for a period exceeding one year are entitled to benefit from public health insurance.

Social Security Insurance GSK-SSK

It is a comprehensive insurance that contains all desired health services. It includes the individual’s social security, health insurance, and pension, as per Turkish laws and the set retirement age.

It is worth noting that an individual who chooses this type of insurance in Turkey benefits from the services provided by most private health institutions for nominal fees only.

 Bagkur Insurance/ Bağkur

This is a unique insurance system that can hardly be found anywhere in the world. It includes people who do not work neither in the public nor in private sectors.

In other words, individuals who do not have work opportunities at all, are granted the Bağkur insurance. However, they will not be included in the retirement fund nor in social security services, after paying to the Bağkur system a small amount per month.

Consequently, after fulfilling the requirement of this monthly payment for around 15 to 25 years, this system entitles them to retirement funds.

In addition, the registrar in Bağkur system benefits from almost free health services, and pays around 20% of the costs of treatment and medication.

Obtaining Health Insurance in Turkey

To obtain health insurance in Turkey, you only need: the following:

1. Passport copy.
2. A document proving the residence address (such as electricity and water bills, or address registration from the Civil Affairs Department or the e-government portal).

At that point, you need to go to the nearest health insurance company, as previously explained, according to your family needs and residence location in Turkey. Ultimately, you can request the required type of insurance within minutes only.

Advantages of Health Insurance in Turkey

• Free diagnosis and examination in Turkish governmental hospitals.
• Discounts on medical treatment and drug prices.
• Health care for children and wife.
• Travel health insurance, “tourism insurance”, is compulsory upon traveling to Turkey.
• Certain types of health insurance are required upon changing the type of your residence visa.
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Important Notes about Health Insurance in Turkey

In the same context, upon deciding to obtain health insurance in Turkey, the following notes must be taken into consideration:

1. Health insurance must be comprehensive for the required residency period.
2. An insurance contract must be issued to ensure acceptance of health insurance.
3. Each individual has separate health insurance with a separate fee according to age.
4. Children under 18 do not need health insurance to obtain residency.
5. Foreign residents over 65 do not need to obtain this insurance in Turkey for residency visa.

The above shared information is an overview of all types of insurance in Turkey. For further inquiries, we are more than happy to serve you in this specific matter, or any other aspect of life affairs in Turkey upon buying your new property.

Editing: Properties Gate ©

Source: Turkiye Finans