Romanians continue to rely mainly on family support in the face of unforeseen events that could affect their financial stability, reveals the latest UNSAR - IRES Barometer released on Monday.
Thus, 43% of respondents say they would turn to family help to cope with a possible financial shortage, in the event of an accident, illness or death, and 36% would use their own savings or personal passive income sources. On the other hand, only 11% of Romanians say they have life insurance coverage.
"Although there's an evident positive evolution in the number of life insurance policies, many Romanians are still vulnerable to high financial risks. The life insurance is, in essence, an act of care for loved ones, and access to sustainable financial protection is a key element for the well-being of every family," said UNSAR general director Alexandru Ciuncan.
This acute need for protection is also backed by market data: the financial protection deficit in Romania now stands at over RON 154,000 per family. However, the positive evolution of the market - which grew by 14% in Q1 2025, shows a growing interest in such long-term protection solutions. It results that the market development reflects a maturing trend and an increased concern for individual and family financial stability, UNSAR experts argue.
"It is important to continue financial education efforts, to help Romanians understand the key role that life insurance plays in a plan of security, autonomy and long-term economic stability," said Roxana Baluta, Life and Health Insurance expert and UNSAR Program Coordinator.
Established in 1994, UNSAR - the National Union of Romanian Insurers and Reinsurers represents 21 companies in the business that hold a share of over 90% of the local insurance market. Since 2007, UNSAR has been a full member of the European Insurance and Reinsurance Federation - Insurance Europe
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