Choosing a Life Insurance Savings Plan

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The advantages include: protection against insurance claims; chance to make savings; minimal risks when investing, since the insurance company invests in reliable financial products; permission to choose a beneficiary - a relative, friend, third party; diversity - due to the abundance of programs available on the market; choice of insurance risks - thanks to the same variety, it is easier to find an offer that protects against the risks that threaten you specifically; receiving a tax deduction - 13% of the contribution amount, but only for individuals who pay personal income tax, and in an amount not exceeding 15,600 rubles annually; the chance after the death of the insured not to wait for the inheritance, but to immediately receive the money - this point concerns beneficiaries; Accumulated contributions are not subject to division in the event of divorce, seizure or collection by court order, and therefore will belong only to the policyholder.


There are far fewer disadvantages to accumulative life insurance. The main ones include low profitability. But we have already explained this point. Another disadvantage is regular contributions. But in this case, we advise you to choose the amount of payments and the contribution schedule. It architect database should be arranged so that these conditions do not seem excessive to you, but feasible. After all, you cannot pay at the limit of your capabilities for many years. Also consider whether it is worth taking out life insurance if your income is irregular. For example, if you receive a commission rather than a fixed salary. Today it is there, but tomorrow it may not be there. To ensure that the insurance product brings only benefits, carefully read the terms before signing the contract. Choosing a Life Insurance Savings Plan To choose the right insurance product, consider a number of factors.


Your future relationship with the insurance company directly depends on them: Term. As already mentioned, with cumulative life insurance, policies are usually issued for a period of 5 years. But there are offers for a period of 10-20 years. Contributions are monthly, quarterly or annual. Accordingly, the more often you have to pay, the smaller the one-time amount will be - and vice versa. Think about what is more profitable and convenient. and whether you can cope with the proposed payment schedule. Fixed rate. The level of profitability directly depends on this. NS is not such a full-fledged financial instrument. But it is important what profit the insurance company can provide. Additional options. There are useful options. They offset the low profitability. For example, some insurance companies offer clients elements of protection in case of detection of oncological diseases.