The problem no one talks about
A common scenario: you work for a company that offers group insurance — life insurance, disability insurance, maybe health insurance too. And a few years ago, when you felt you needed to "cover yourself," you bought an additional private policy.
The result? You're paying a double premium for overlapping coverage, and when the moment of truth comes, you'll receive just one payout.
By some estimates, more than 30% of insured Israelis have some form of duplicate coverage. That's money leaving your pocket every month — with no added value at all.
Coverages worth checking
Life insurance
Most pension plans and manager's insurance (bituach menahalim) policies include life coverage (risk). If you also bought a private risk policy, there's a very good chance you're paying twice. Check the coverage page of your pension before you pay for another policy.
Disability insurance (loss of working capacity)
Loss-of-working-capacity insurance is one of the most important — but also one of the most commonly duplicated. Your pension fund includes disability coverage, your employer may add group insurance, and many people also buy a standalone policy on top. Three coverages insuring the same risk.
Health insurance
Health insurance through your HMO, manager's insurance, and your employer's group insurance — often all of them offer coverage for surgeries and medications. Before renewing, check what you already have.
💡 Rule of thumb: before buying any new policy, get a summary of all your existing coverages. It doesn't take long, and it can save you thousands of shekels a year.
How do you check whether you have duplicate coverage?
The first step is to gather all your policies in one place. It's surprising how many people don't know exactly what they have. Collect:
- The coverage page from your pension fund / manager's insurance
- Policies you bought independently
- Group insurance through your employer (ask HR)
- Coverages through your HMO
The second step — read the "sum insured" and "coverage ceiling" lines in each policy and compare them. If two coverages insure the same risk for the same amount, one of them is redundant.
What to do if you find duplicate coverage
It doesn't necessarily mean cancelling everything. Sometimes the group insurance ends when you leave the job — and then the private policy is your safety net. The question is always: what coverage is right for me, and at what price?
Sometimes it's worth scaling back coverage on one policy and strengthening another. Sometimes it's worth cancelling entirely. And sometimes — you discover that you're actually missing critical coverage in a completely different area.
The bottom line
Good insurance is not a matter of "as much as possible" — it's a matter of a precise fit to your needs. Too much insurance costs unnecessary money. Too little insurance — can cost far more.
An annual review of all your coverages is worth every shekel you put into it.
Want to check where you stand?
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