10 expensive insurance policies that aren't worth it, according to financial experts - check your insurance coverage!

10 expensive insurance policies that aren't worth it, according to financial experts - check your insurance coverage!

According to a report by www.t-online.de, it's about finding out which insurances are actually necessary and which can be classified as unnecessary. Experts recommend checking your insurance coverage regularly, as many policies on the market are viewed as unnecessary. Some of the insurances that are considered unnecessary are endowment insurance, private pension insurance, Riester and Rürup pension insurance, funeral insurance, training insurance, glasses insurance, ticket insurance and luggage insurance.

Capital-forming insurance, such as endowment life insurance and private pension insurance, only achieve low returns due to low guaranteed interest rates and non-transparent, overpriced cost structures. The Riester and Rürup pension insurance policies are also superfluous due to their low returns and complex legal regulations. Funeral insurance is unnecessary as an alternative due to the increasing contributions in old age and the possibility of investing money in a timely manner. Due to high acquisition fees and low flexibility, training insurance does not offer a profitable return compared to alternative forms of investment. Glasses insurance, ticket insurance and luggage insurance are also unnecessary as they either do not provide adequate coverage or can be replaced by other savings and sales options.

Overall, these insights may lead consumers to rethink their insurance portfolios and reduce unnecessary spending. Companies offering these insurances could see a return to other insurance products, while consumers could benefit from cheaper and more effective insurance options.