Life assurance: decommissioning, termination or sale !!

What benefits have closure, termination or sale of life insurance in comparison? Many still remember the TV advertisements for the sale of life insurance. Recent consumer tests show that this does not make either tender offer or this Report may be low. But there are other possibilities than the sale or termination of a life insurance.

Possibilities in a life insurance
The classic endowment (LV) has long been no more return on horseback. However, deterioration of personal economic circumstances often lead to the search for suitable solutions and ways to mitigate the one hand, the contributions paid up / removed, and / or use the paid contributions – before it expires.
Basically substantially sale, termination or retirement, get a life insurance policy in question. But there is no royal road flat, for the personal circumstances play a large role.

Termination of life insurance
Terminations have the disadvantage that cancellation fees can be calculated and the surrender values paid are relatively low. Moreover, it is also the final lost profit, which is paid only in the normal contract. It is only by clear, that the available sum is disproportionate to the contributions that have been done so far. Since most life insurance run until the scheduled end, cancellations are a good business – but only for the insurer.

Sales of life insurance
The sale of life insurance can be a better alternative. However, it also says here: watch out! On this second market cavort now some black sheep. Not always in this case is a real value for his accrued benefits. Especially when out at once instead of one installment was agreed to so many bona fide client had been left behind. And another thing: Meanwhile, the sales value of life insurance is also covered by the flat tax, which formerly was not the case. It remains only to inquire the well-known reputable suppliers to offer and to compare them.

Closure of the life insurance
From the many disadvantages of sale and notice is clear already that the third variant is often the best choice: a closure of the life insurance. There will be no more contributions paid. The losses are omitted to keep the whole limited, since neither cancellation costs are still on the final distribution must be (which will be lower). Additional downside: the death of the survivor benefits are also lower.

At retirement, the regular payment amounts will be free. This increases the liquidity. In addition, results in a greater degree of freedom: The money can now be invested elsewhere more profitably. The main objectives of the endowment – to obtain a subsequent payment and protection of the members go – but not lost.

Review the exemption LV
Wen pain therefore mainly the relatively high monthly premiums, which is moving at a closure on top. An alternative is sometimes a contribution exemption. Here, the contribution is only for a certain agreed time will be suspended.

Loan to value of life insurance
Information on the temporary need for cash, there is a little known variant: the loan to value of the contract with the insurance provider. In this so-called policy loans, the insurer pays the customer has already made a component of the future insurance benefits early – at favorable interest rates and without collateral.

Criteria for disability insurance

It is said that the Disability Insurance (BU) was one of the major insurance companies in general, especially in the field of disability prevention. Why you need a disability insurance, and thus necessarily to the criteria of a disability insurance to look for?

Purpose of BU
Even if you do not like to hear or read, many people lose their labor each year from accidents or diseases and as a consequence can no longer exercise their profession. This leads to considerable financial losses. To avoid this loss, disability insurance is an important. Because it creates a large degree of financial security for these cases. But not only people who rely on their labor, should a disability insurance policy, but also housewives and house husbands, but also studentsare well advised to effect such insurance. Because the statutory pension insurance provides that, for example, students wait five years after occupation have taken their first, statutory pension insurance (eligible for EU pension) are covered by. And the mistress? She takes care of the family, children and the apartment, she falls for an indefinite period, such a replacement must be hired.

Criteria for disability insurance
Therefore, disability insurance is a fundamentally appropriate for each, whether it employees, student or trainee is Self. If a person received a disability insurance to us, it is usually a monthly pension agreement in which disability of at least 50 percent of the insured person is paid for. Provided however, that the insured person for a period (forecast period) of at least six months no longer exercise activity carried out which can then pays the disability insurance , the monthly pension. To risk mitigate this and to financial emergencies to protect you should a disability insurance conclude, however, policy conditions, a comparison of sense, because the offers of each provider are very different.

One should see how high the degree of incapacity must be necessary, thus making the insurance needs. Moreover, one must know to determine that, in essence, the insurance and “their” doctors the degree of incapacity for the occupation. Many insurance companies already pay graduated from 25% to 50% off most. You should also consider whether an insurance may refer to a comparable replacement profession to be engaged with the restriction still can. Also interesting is the process rate, ie how often an insurance policy is being sued for nonpayment.