Loans can no longer be used or the education of children can be financed – the death of a person usually also has financial consequences. To reduce this, 39 percent of Germans have secured their family. For whom the risk protection makes sense and what there is to pay attention knows CosmosDirekt.
If the partner or a parent dies, the survivors are often faced with financial problems. In order not to have to feel the loss in your wallet, the private protection of relatives makes sense. But contracts for pure risk protection take in this country according to industry information service map-report only 9.3 percent of the total inventory of all life insurance.
In other words, the numbers look a bit more positive: After all, 39 percent of Germans have, according to a recent forsa survey on behalf of CosmosDirekt a life insurance to cover their deaths completed – 40 percent of men and 37 percent of women.
“For many women, the policy of the highest-earning man is the best protection against financial ruin and poverty in old age,” explains Manfred Poweleit, editor-in-chief of the map-report. “At the same time, however, women should provide financial security for their partner and their children.” The sum insured should be around three to five times the gross annual earnings.
Safety net for the family
One of the most important reasons for risk protection is the protection of the partner – 72 percent of the men surveyed and 60 percent of the women say so. Silke Barth from Germany’s largest risk life insurer CosmosDirekt advises: “Housewives should also protect their husbands or the entire family. Because the one who cares significantly about the offspring dies, the partner needs money for the care of the children or a domestic help. “
Special situation with single parents
For 81 percent of all mothers who have completed death protection, according to the survey, securing their children was the main reason. 77 percent of men agree. Silke Barth is currently recommending single parents to secure their children so they can be taken care of in case of emergency. If one assumes, for example, about 1,000 € per month for 20 years of life, this results – interest not included – a sum insured of 240,000 €. A 30-year-old man receives a term life insurance with this sum and 20 years of contract at CosmosDirekt from just 10.88 € per month.
Protection for home builders & Co.
“If you pay off a house or repay a loan with your partner, you can secure it well with a flexible life insurance policy,” says Silke Barth. In the case of this special form of risk protection, contributions decline as the residual debt decreases. If both partners financially contribute to the repayment of the loan, it makes sense for both to take out such insurance. According to forsa, 29 percent of respondents have agreed on their risk protection for these purposes – 31 percent of men and 27 percent of women.
Always assign correctly
Risk life insurances should necessarily be completed crosswise: one partner is the policyholder, the beneficiary and the contributor. This means that he also receives the agreed sum if necessary. The partner is the insured person. Thus, the sum insured does not fall under the inheritance tax liability in an emergency.
Unisex – What now?
Women planning to take out a life insurance policy should do so before 21st December. Because from this date, new contracts for female insured become more expensive. The reason is an EU regulation, according to which all new policies apply unisex tariffs. They are calculated independently of gender.