Traditional Life Insurance
You make a one-time payment or pay a recurring premium. Term life insurance provides a death benefit if you die within the specified premium payment term. Upon death of the policy holder within that specified time period, the insurance amount is immediately due to the beneficiaries. A Whole Life Insurance Plan builds cash value during the premium payment term that you can use later in life.
You make a one-time payment or pay a recurring premium. Whole life insurance covers the entire life of the policy holder. This type of life insurance is recommended as a savings plan or retirement savings plan and is suited for those who are not looking for a large-sum death benefit or short premium period.
This term life insurance is immediately paid out upon the death of the policy holder. This type of insurance offers a high level of protection for a low premium. If the insured does not pass, the insurer is not obligated to pay. This type of insurance is used to cover high credit amounts, loans, family responsibilities, and as an instrument for the reciprocal protection of spouses, business partners, or other persons in dependent relationships.
Unit-linked Insurance Plan
This type of insurance plan combines the advantages of traditional life insurance to cover risk with an investment in investment funds. Due to their high degree of flexibility, unit-linked life insurance plans are in high demand.
The customer decides into which investment funds his/her savings are to be placed. The insurer makes the investment for the customer after deducting insurance taxes, risk premiums, and other costs and fees.
This type of insurance provides the customer with opportunities, but also risks. During periods of growth, the customer’s share in a fund increases in value, but decreases in value during downturns. Currency funds are subject to currency fluctuations which may positively or negatively affect investment.
In order to minimize risk, policy holders can choose a unit-linked life insurance with a 100% guaranteed maximum. This eliminates the risk of losing attained gains.
A unit-linked policy is suitable investment option for long-term goals such as:
Savings
Investment
Financing
Depending on preference, customers can choose between a managed and an optional funds policy with regard to monitoring of the portfolio.