Term life insurance: What to do if someone dies?

With the birth of a child, the roles between child rearing and work are usually redistributed. If one parent has an accident, statutory survival insurance is usually not enough to maintain the desired standard of living. This is why many parents take out term life insurance to protect themselves in the event of their death.

The insurance amount and term can be determined individually. However, when you take out the insurance, you should make sure that the protection can be extended without another health check. For example, through additional insurance or an extension option.

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For the first one, the cover can be increased, for example, if another child is born or if a property that you use yourself is bought. With an extension option, the contract can also be changed for a new life insurance policy with a longer period within the first ten years, emphasizes Universa Versicherung. This would allow parents to deal flexibly in the event of a stillborn and a longer protection period should apply to the survivor’s insurance.