Term life insurance: When it makes sense and what you should pay attention to - tips from a financial expert

Term life insurance: When it makes sense and what you should pay attention to - tips from a financial expert

According to a report by www.n-tv.de,

Term life insurance is important protection for surviving dependents, especially for couples who purchase a property together and have loan liabilities. In the event of the death of the insured person, the term life insurance pays out a pre-agreed amount. There are various options for protecting yourself with term life insurance, such as combined term life insurance, cross-insurance or two independent contracts. The prices for the policy depend on the agreed death benefit, the term of the insurance, the entry age and the state of health of the insured person when the application is submitted.

The impact on the market shows that demand for term life insurance has increased in recent years, particularly among couples and families. This has led to insurance companies increasingly offering tailored policies for this target group. The increasing demand has also led to a variety of providers, resulting in a wider range of offers and a price range of 100 to 300 euros per year for an insured sum of 200,000 euros.

For the consumer, this means a greater choice of insurance products, but also the need to carefully consider which policy best suits individual needs. In terms of the industry, increasing demand has led to increased competition among insurance companies, resulting in innovative offerings and improved services for customers.

It is important to note that answering health questions honestly is crucial when purchasing term life insurance, as inaccurate information can result in denial of benefits. In relation to the consumer, this means that full disclosure of health status is necessary in order to receive full benefit in the event of death.

Overall, it appears that term life insurance represents important protection for families and couples, but is also an increasingly diverse and competitive market, offering consumers greater choice and better services.