Overview: 10 insurance policies that financial experts classify as unnecessary and expensive

Overview: 10 insurance policies that financial experts classify as unnecessary and expensive

According to a report from www.rundschau-online.de, the article lists ten common insurance policies that experts consider to be unnecessary. These include capital life insurance, private pension insurance, Riester and Rürup pension insurance, death benefit insurance, training insurance, glasses insurance, ticket insurance, luggage insurance, cell phone insurance, residual debt insurance and daily hospital allowance insurance. These insurance policies are not profitable for various reasons and lead to non-transparent cost structures and low returns.

Capital-forming insurance is considered unsuitable for retirement planning and wealth creation due to the low guaranteed interest rates and excessive costs. Riester and Rürup pension insurance also have disadvantages due to low returns and complex legal rules. Funeral insurance is not suitable for covering funeral costs and training insurance is associated with high losses if canceled. Glasses insurance, ticket insurance, luggage and cell phone insurance offer inadequate protection and profitability. Residual debt insurance has high insurance premiums and numerous exclusion clauses, while daily hospital benefit insurance only causes unnecessary additional costs.

From the experts' point of view, the insurance policies mentioned are unnecessary expenses and do not offer appropriate benefits for the insured. Consumers should therefore critically examine the costs, returns and benefits in order to ensure sensible and profitable insurance. Instead, alternative forms of investment and provision could be considered that lead to better financial security.

Overall, the information mentioned shows that the insurance policies mentioned lead to non-transparent cost structures and low returns, which means that the bottom line is that they are not profitable. Consumers should therefore critically examine whether taking out such insurance actually makes sense and consider alternative forms of investment and provision.