However, Romania’s financial protection gap remains large, reaching approx. EUR 166 billion, up 5% nationwide, according to the latest study conducted by MIR Research at the request of UNSAR. The findings show that, on average, a Romanian family faces a shortfall of approximately RON 165,400 (EUR 3,310) between the financial resources available and the funds needed in the event of a serious life disruption.
The data highlights one of the most significant vulnerabilities affecting household resilience — namely the limited capacity to cope with income loss caused by illness, accidents or death.
“The increase in the financial protection gap shows that Romania’s population is increasingly exposed to major risks. To change this reality, a comprehensive set of measures is needed - from education and prevention to expanding access to financial protection solutions such as life and health insurance. In this context, introducing tax deductibility for life insurance and increasing existing deductibility for health insurance are essential tools to stimulate financial protection,” said Alexandru CIUNCAN, President and Director General of UNSAR, the organization behind the ABS – Alliance for Well-being platform.
Roxana BALUTA, Life & Health Insurance Specialist and Programs Coordinator at UNSAR further emphasized: “Reducing the protection gap cannot be achieved in isolation. It requires partnership between the industry, authorities, the private sector and civil society, so that financial protection becomes a natural component of well-being. A crucial first step is financial education, which helps people understand the real risks they face and make informed decisions to protect their income and their families.”
The study underlines both the scale of the challenge and the growing awareness among Romanians that financial protection is no longer optional, but an essential pillar of long-term stability.
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