Term life insurance for families is actually a must. Retirement provision via life insurance, on the other hand, is a thing of the past. Stiftung Warentest researched how high the premium can be in 85 tariffs.
were valid for a long time Life insurance as excellent Risk protection and at the same time as good retirement provision. Now it’s quiet around her. The low interest rate phase has had a huge impact on endowment life insurance. The variant Term life insurance but is therefore not superfluous. On the contrary: for them Rhineland-Palatinate consumer advice center This insurance is important “to protect surviving dependents or a loan in the event of death.” The Stiftung Warentest has 85 tariffs of term life insurance is closely examined. The result is surprising: Expensive offers cost more than three times as much as cheap ones. Who the Comparing premiums can save hundreds of euros a year. The foundation did not find any relevant differences in performance. Each tariff offers sufficient protection – even without expensive extras. If you want to evaluate the complete report on term life insurance, you should download (Price: 4.90 euros). You can find out about term life insurance from CosmosDirekt here.*
Why is term life insurance recommended?
Nobody likes to think about that, but it happens every day: Accidents and serious illnesses often end their lives suddenly and unexpectedly. If your partner dies, that’s it Impact on quality of life and future of the survivors.
Die Cost of living continue: Who pays the rent or the real estate loan, the costs for the car, daycare and the children’s education? Term life insurance is always recommended when other people depend on your income.
Term life insurance should your family save from great financial hardship. She is relatively cheap to have. “It can make sense for young families with small children if one partner uses his or her income to primarily cover living expenses, while the other takes care of the offspring and the household,” explains Anna Follmann, insurance advisor at the Rhineland-Palatinate Consumer Center.
Protect your property with term life insurance
“Also has to have one Property financed “If the main earner dies, a family can often no longer cope with the financial burden,” adds Anna Follmann. So you can take out term life insurance Restschuldversicherung to use.
When granting a loan for a property, credit institutions often require ownership of one Term life insurance or a separate residual debt insuranceif the borrower dies unexpectedly. The Term life insurance fulfills the same function and is more suitable than pure residual debt insurance, because it is expensive and does littleor so she thinks Consumer advice center.
To protect your property, you can take out term life insurance with a falling insurance sum complete. This means that only the part of the loan that actually still has to be repaid is insured. As the insured sum falls, the risk for the insurance company decreases. This means you can come along clearly cheaper premiums for term life insurance in this dual function. Securing a loan and protecting survivors should always be included two separate policies take place.
How is the insured sum determined?
The heart of term life insurance is this Sum insured. You as an insured person or insured person set the amount which must be paid in the event of your death. As Guideline recommends the Stiftung Warentest the Three to five times the gross annual salary. Another method for determining the sum insured is to determine the Supply gap. It calculates in detail how much money is missing due to the death of the insured person and how expenses and income change.
In addition to the insured sum, Occupation relevant to the post. Window cleaners, soldiers, firemen and women, deep-sea fishermen, pilots, police officers, scaffolders and circus performers must expect that they a surcharge have to pay. The Alter is another important point for the amount of the premium for term life insurance. The older someone is when they take out the policy, the more expensive the policy is. Almost all tariffs differentiate between smokers and non-smokers. Smokers pay significantly more.
Pre-existing conditions and Overweight are also important indicators for insurance companies. At high insurance sums Is there a medical risk assessment at a doctor. Health risks upon conclusion of the contract concealmentis not recommended. The insurance can deliberate misrepresentations The clear statement is that she doesn’t have to pay jurisprudence (Federal Court of Justice, judgment of March 12, 2014, Ref.: IV ZR 306/13).
How much does cheap term life insurance cost?
Around the Insurance premiums to be able to compare Stiftung Warentest Model customers created. Example 1: Head of department Maria (Controlling), date of birth July 1, 1987, non-smoker for ten years, normal body mass index, no health problems, no dangerous hobbies, contract starts at 35 years, contract term up to 67 years, Insured sum 450,000 euros.
- Department head Maria in the cheapest insurance
- Ergo: term life insurance
- Sum insured: 450,000 euros
- Annual contribution (paid contribution): 433 euros
Example 2: Roofer Julian, date of birth July 1, 1987, non-smoker for ten years, normal body mass index, no health problems, no dangerous hobbies, contract starts at 35 years, term up to 60 years, Insured sum 300,000 euros.
- Roofer Julian in the cheapest insurance
- Hanoverian: T1 N10 base
- Sum insured: 300,000 euros
- Annual contribution (paid contribution): 233 euros
Beware of tax traps
The Verivox comparison portal from Munich recommends one simple trickwhich makes it possible Inheritance tax in term life insurance to circumvent. In a so-called Cross-cross insurance each party takes out independent insurance on the life of the other partner.
Here’s an example: Partner A insures the life of Partner B and vice versa. The beneficiary is therefore also the policyholder. This eliminates inheritance tax. It is important that the insurance premiums vary from transfer to your own account are.
Die Premium for term life insurance can you from the Tax put down. The legal basis for this is Section 10 of the Income Tax Act (EstG). Paragraph 1 number 3a states that the contributions for risk insurance Special editions are. One condition for this is that a benefit is only made in the event of death – which applies to term life insurance.
Basic tariffs are completely sufficient
According to research by the insurers, they offer Stiftung Warentest several Tariff variants an: Basic and expensive premium tariffs. It’s the little extras that you have to pay dearly for, such as an early death benefit. This is due when only a limited lifespan can be expected due to a serious illness.
“We don’t think it’s necessary”says the report. And further: “Insured people can safely save themselves the extra costs for premium tariffs. All basic tariffs in the test offer sufficient protection.”
If you can no longer pay the premiums, that’s it Termination of term life insurance not a good idea. If you are financially tight, you can get contributions from some insurance companies hours; Depending on the tariff, these are six to 24 months.
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