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Term Insurance - Risikolebensversicherung

Finding the right solution for families and business partners

Financial ruin can come quickly to a family - when the main breadwinner suddenly dies. The consequences are often disastrous for all concerned, whether adults or children. How depressing a move to a smaller flat or house in a worse neighbourhood can be! Or losing the roof over your head if the mortgage payments can no longer be kept up.

The first months and years are usually followed by a dramatic reduction in the standard of living. It is therefore all the more essential to have private term insurance.

Business partners can also insure each other to ensure the company will keep going despite the loss of one of them and the potential costs involved in finding a replacement.

Mortgage holders are well served with such an insurance with a decreasing death benefit.

Such an insurance is the most economical way to provide financial security. What factors are important in finding the right choice of provider?
The price depends on your age, gender, profession and other factors such as smoker or non-smoker, body mass index, level of education, the length of the contract and the amount of the required cover. 

It's also more economical to have a so-called "Verbundene Risikolebensversicherung" for couples than for both to have separate ones. In such a case, if partner A dies, partner B inherits the insurance money and vice versa. If both die, the children inherit.

WARNING: Term insurance should not be confused with the old-fashioned and unprofitable so-called Kapitallebensversicherung, which is much more expensive and combines low yields and high costs!

Generally, you don't need a medical check-up for a death benefit of up to € 500,000 but there are health questions to be answered.
We recommend you contact us to discuss all these points in greater detail to find out what you really need.

Summary
Term insurance is a low cost way of taking care of family members and others, paying off any outstanding debts (e.g. mortgage) and providing funds for children, grandchildren and other loved ones in case of premature death. 

Contact us today for further information
Published | 26/09/2020 |