Financial expert warns: These ten insurance policies are often unnecessary and cost a lot of money

Experts recommend checking your own insurance coverage regularly, as many policies on the market are unnecessary and expensive. In particular, capital formation insurance, Riester and Rürup pension insurance, death benefit insurance, glasses insurance, training insurance, ticket insurance, luggage insurance, cell phone insurance, residual debt insurance and daily hospital allowance insurance are classified as dispensable. These insurance policies have non-transparent and overpriced cost structures, provide low returns or do not cover any relevant risks. Consumers should therefore check individually whether it is worth taking out this insurance. Analysis of dispensable insurance policies According to experts, capital-forming insurance such as endowment insurance and private pension insurance are not suitable for retirement provision or wealth creation due to low guaranteed interest rates and non-transparent cost structures. Due to low...