Insurance Services:

The insurance services division of Global Kadro Company, named Global Sigorta, offers various insurance services to customers as follows:

1. Health insurance:

Types of medical insurances in Turkey:

. Medical insurance for foreigners

. Private health insurances:

. Supplementary health insurances

– Inpatient Treatment Costs:

Inpatient treatment refers to a situation where a patient is treated in a hospital for more than 24 hours, and in this case, the costs of inpatient care are covered.

These costs include: Surgical procedures ,  Hospitalization expenses ,  Patient’s room expenses , Special care ,  Angiography  ,  Medical examination costs , Artificial organ expenses ,  Computed tomography (CT) scans ,  Radiography ,  Rehabilitation costs ,  Additional costs due to driving accidents ,  Medical care expenses at home

– Outpatient Treatment Costs:

These costs cover:  Medical examinations ,  Medications  ,  Laboratory tests , Paraclinical expenses (ultrasound, mammography, endoscopy, colonoscopy, etc.) , Assistive medical equipment such as knee braces, ankle braces, neck braces, etc.

Private Health Insurance is another type of medical insurance, and it is individual health insurance. This insurance is available for foreign individuals, and it can be obtained with a residence permit or, in special circumstances, with a passport.

In Turkey, medical services and hospitals are categorized as follows:

– Extensive Network : Hospitals and medical services that are often luxurious and have high costs fall into this category, known as A+. Examples include the American Hospital, Acıbadem, Medical Park, etc. It’s worth mentioning that the American Hospital is only located in Istanbul and is one of the most equipped and modern hospitals in Europe, with higher service costs than other hospitals.

– All Network : All hospitals are considered A level, and only the American Hospital is not included in this category.

– Echo Network: Hospitals other than the A level, which are a significant number and are classified in terms of quality from normal to good.

Private health insurance is offered in various services and plans. The price of these insurances varies depending on the plans and is subject to change based on customer needs. In this type of insurance, unlimited inpatient treatment costs and 80% of outpatient treatment costs in contracted centers are covered.

– The maximum age varies in different companies but is generally around 60 years.

– Maternity costs, if added to the insurance policy, will be subject to an additional premium.

– Dental expenses are included in all plans, covering procedures such as extraction, root canal, filling, scaling, and OPG X-ray.

– Check-up (annual examination) is performed once a year in contracted centers and is free of charge.

Complementary Health Insurance :

serves as an additional and complementary insurance to the basic insurance. Individuals who are covered by SGK (Social Security Institution of Turkey) can purchase this insurance. This insurance has two main sections:

  1. Inpatient Treatment Costs:

   – In case a patient is hospitalized for more than 24 hours, this insurance provides unlimited and ceiling-free coverage for inpatient services.

   – Inpatient treatment costs cover conditions such as cardiovascular diseases, surgeries, etc.

  1. Outpatient Treatment Costs:

   – Outpatient services include medical examinations, paraclinical services, diagnostic tests, sonography, radiography, annual check-ups, and dental care.

   – The insurance provides coverage for outpatient treatment costs, allowing individuals to benefit from various medical services without financial constraints.

  1. Car insurance:

Turkey, in support of owners of motor vehicles and individuals who suffer injuries and damages due to accidents involving these vehicles, has established this under two insurance policies.

  1. Traffic Insurance:

   – Compulsory Third-Party Liability Insurance:**

     This insurance policy is mandatory for all motor vehicle owners. It covers financial and life damages to third parties. The commitments include:

     – Financial compensation for each vehicle.

     – Financial compensation during the insurance period.

     – Disability compensation for each person.

     – Disability compensation in each accident.

     – Medical expenses for each person.

     – Medical expenses in each accident.

  1. Green Card Insurance:

   The Green Card is essentially international third-party insurance. It is essential for those planning to travel outside the country with their vehicles (to countries that are members of the Green Card system).

   The international Green Card system, created in 1949 by the Economic Commission for Europe (ECE) under the United Nations, aims to protect victims and drivers in traffic accidents. Currently, 48 countries are members of the Green Card system, mainly European countries, including Turkey and Azerbaijan.

   – Insurance Premiums and Green Card Commitments:

     The insurance premiums and commitments are determined based on the laws and regulations of the country where the accident occurs. The minimum legal commitments of member countries are announced annually by the central Green Card office. The insurance premium is variable and depends on the type of vehicle, travel duration, and the amount of commitments of the destination country or countries.

  1. Comprehensive Insurance (Kasko Insurance):**

   – Insurance Premium Determinants:

     Several factors determine the comprehensive insurance premium, including the type and use of the vehicle, the driver’s history and no-claims discount, the vehicle’s price, the policyholder’s occupation, and the car model.

   – Commitments and Coverages of Comprehensive Insurance:

     Comprehensive insurance includes primary commitments and additional commitments. While primary commitments are standardized across all companies, additional coverages may vary.

     Primary Commitments:

     – Fire, explosion, lightning.

     – Total and partial theft.

     – Accident.

     – Natural disasters (flood, hail, earthquake, hurricane).

     Additional Coverages:

     – Seat burns from cigarettes.

     – Broken glass.

     – Legal expenses.

     – Financial penalties for damage to business-related to the car.

     – Compensation for the loss of car keys.

     – Compensation for damage to the car’s engine due to the wrong fuel type.

     – Compensation for damage caused by animals (e.g., rodents chewing wires).

     – Payment of medical expenses, individually and collectively.

     – Expenses for lifting with a crane.

     – Expenses for staying in the repair shop.

     – Expenses for sending parts from abroad.

     – Terrorism.

  1. Earthquake and Fire Insurance:

Earthquake Insurance (DASK) in Turkey

Following the 7.6 magnitude earthquake off the Marmara coast in 1999, the government passed a law in 2000 requiring compulsory earthquake and natural disaster insurance for all residences. Earthquake insurance, known as DASK (Doğal Afet Sigortaları Kurumu), is a type of fire insurance.

Coverages under the DASK insurance policy include:

. Fire

. Earthquake

. Landslide

. Tsunami

It’s important to note that any individual purchasing residential property in Turkey is required to obtain the DASK insurance policy for the registration of the property deed. Additionally, utility authorities for water, electricity, and gas consider having a DASK insurance policy as mandatory for property owners to conduct administrative affairs.

Home Fire Insurance (Konut Sigortası):

Another type of fire insurance is home insurance, known as “Konut Sigortası.” In this insurance policy, applicants can insure both the contents of the home and the structure itself. It’s worth mentioning that, as mentioned earlier, in the DASK insurance, the value of the building is automatically and systematically determined. Now the question arises: for some houses that have used more expensive materials or have a more valuable building facade compared to what the system has calculated systematically, what if the value of the building is higher than what the DASK insurance system has calculated? In this case, the difference in value can be compensated in the Home Fire Insurance (Konut Sigortası).

Home Fire Insurance (Konut Sigortası) is divided into two main sections:

. Building value

. Value of contents and personal belongings

 

Industrial, Manufacturing, and Service Fire Insurance:

Another type of fire insurance is industrial, manufacturing, and service fire insurance, which includes primary and additional coverages.

Primary Coverages: Fire, explosion, and lightning.

Additional Coverages: Typically, each company offers a variety of additional coverages, including but not limited to flood, earthquake, glass breakage, burst water pipes, ground settlement, damage caused by snow and ice, frost damage, damage due to collapse, and damage to industrial machinery.

  1. Accident insurance:

– Individual Accident Insurance

– Travel Accident Insurance Policy

  1. Life and savings insurance:

Life and savings insurance” refers to an insurance policy that provides coverage for both life insurance and a savings or investment component. In such a policy, a portion of the premium paid goes towards providing a death benefit (life insurance coverage), and another portion is allocated to an investment or savings account. The savings component may accumulate cash value over time, which policyholders can often access or use for various purposes. This type of insurance aims to offer financial protection for the policyholder’s beneficiaries in case of death while also providing a savings or investment feature for future needs or goals.

  1. Pet insurance:

Home Pet Insurance: If you need insurance for your domestic animals, you can insure them in Turkey. The age of the animal should be over 6 months and less than 10 years. Policyholders must visit the insurance company’s contracted centers to take advantage of the insurance coverage. Having the animal health card is mandatory when obtaining the insurance policy.

The waiting period for this insurance policy is 24 hours after the issuance of the insurance policy and is handled by Global Kadro.

The commitments and coverages of the insurance policy include:

  1. Medical expenses resulting from traffic accidents, falls from height, illnesses caused by swallowing foreign objects, heatstroke, poisoning, burns, insect bites, electric shock, drowning, fights, cuts and stings, frostbite, eye injuries.
  1. Financial and life damages caused by domestic animals to third parties.
  1. Payment of rewards in case of the animal getting lost.
  1. Hospitalization and examination expenses for the animal.
  1. Imaging, ultrasound, MRI, CT scan, blood, and urine analysis.
  1. 10% to 20% discount for dog training services.
  1. Liability insurance :

Liability insurance is a type of insurance coverage that provides protection against claims resulting from injuries and damage to people or property for which you are legally responsible. This insurance covers the costs of legal defense and any payouts for which the insured party would be found liable.

There are different types of liability insurance, including:

– General Liability Insurance: This coverage protects businesses and individuals from claims involving bodily injuries and property damage.

-Professional Liability Insurance (Errors and Omissions Insurance): This is commonly used by professionals who provide services or advice, such as doctors, lawyers, and consultants. It covers negligence claims and errors or omissions that harm their clients.

-Product Liability Insurance: This type of insurance protects businesses that manufacture, distribute, or sell products from financial loss due to a defective product that causes injury or bodily harm.

-Umbrella Liability Insurance: This provides additional liability coverage above the limits of a general liability or other business insurance policy. It helps protect against large and potentially devastating liability claims.

-Public Liability Insurance: This is a general liability insurance that covers third-party bodily injury or property damage claims that occur on the premises of a business or as a result of business operations.

Liability insurance is crucial for businesses and individuals to protect against the financial repercussions of accidents, injuries, or damages for which they may be held responsible. The specific coverage and limits depend on the type of liability insurance and the individual policy.

  1. Social security insurance:

Social insurance refers to government programs that provide financial assistance and support to individuals and families facing specific life events, such as retirement, disability, unemployment, or the death of a breadwinner. These programs are designed to ensure a basic level of economic security and protect individuals from financial hardship during challenging circumstances.

Key features of social insurance include:

  1. Mandatory Participation: Social insurance programs are often mandatory for eligible individuals, and contributions are typically made by both employees and employers. The funds collected are used to provide benefits to those who qualify.
  1. Entitlement-Based Benefits: Eligibility for benefits is generally based on specific criteria, such as age, disability, employment history, or income. Individuals must meet these criteria to receive benefits.
  1. Government Oversight: Social insurance programs are usually administered or overseen by government agencies. These agencies establish the rules, manage contributions and payouts, and ensure the financial sustainability of the programs.

Common types of social insurance programs include:

  1. Social Security: Provides retirement, disability, and survivor benefits to eligible individuals. Contributions are made through payroll taxes.
  1. Unemployment Insurance: Offers temporary financial assistance to individuals who lose their jobs involuntarily. Funding comes from employer payroll taxes.
  1. Workers’ Compensation: Provides compensation to workers who are injured or disabled on the job. Employers contribute to this fund.
  1. Medicare: Offers health insurance coverage for individuals aged 65 and older, as well as certain younger individuals with disabilities. Contributions are made through payroll taxes.
  1. Social Health Insurance: Found in many countries, this type of insurance covers medical expenses and is funded through contributions from employers, employees, and sometimes the government.
  1. Disability Insurance: Offers income support to individuals who are unable to work due to a qualifying disability. Contributions are typically made by workers.

The goal of social insurance is to create a safety net that promotes economic stability and helps individuals and families cope with life’s uncertainties. Social insurance programs vary widely across countries, reflecting differences in social and economic policies.