Berlin (dpa / tmn) – Fund policies want to combine the good of two worlds: the security of an insurance company and the return potential of funds. This can definitely be an alternative for comfortable customers, reports the magazine “Finanztest” (12/2020) from Stiftung Warentest.
However, customers often pay a lot of money for these contracts. That reduces the return. The choice of fund is therefore important.
In the test were 33 tariffs for unit-linked annuity insurance for a 37-year-old model customer. The financial experts have checked which funds the insurers offer, how much pension they pay for every EUR 10,000 of assets saved, how high the costs are and how transparent and flexible the contract is.
The main problem is usually too high insurance costs and the associated reduction in returns. An example: In one case, the costs were 1.7 percent per year. With the cheapest provider, however, only 0.4 percent per year were due. With a term of 30 years, that can make a big difference. Only 3 of the 33 policies in the test were therefore rated “good”.
Important to know: The security of the fund policies examined cannot be compared with a normal private pension insurance, explain the testers. Because there is no guarantee for the contributions paid. The security in these contracts is that the insurance companies pay a lifelong pension from the capital they have built up. How high this is is only determined when the pension is due.
For savers who want to take this risk, the experts recommend equity ETFs. Almost all of the tariffs examined also offer equity ETFs. Those who want to save with funds for old age are not dependent on fund policies from insurance companies. Fund savings plans at financial institutions are more flexible and cheaper.
© dpa-infocom, dpa: 201109-99-272815 / 2
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