CONTRIBUTION

In this case, the age of entry and state of health are decisive for the calculation of the premium. The earlier you start your coverage, the lower the premium.

HEALTH ISSUES

Questions about your health should always be answered truthfully and completely. If you give false information, you risk losing your insurance cover.

TERM OF RUN

It is advantageous to ensure that the duration of the programme is sufficiently long from the outset – for example, until your children have completed their vocational training. A later extension of the term will lead to an increase in premium income due to the new risk assessment and the higher entry age.

SUM INSURED

The sum insured should be three to five times your annual gross income.

PAYMENT METHOD

With an annual payment method, you can reduce your insurance premium.

WHY WOULD YOU TAKE OUT A TERM LIFE INSURANCE POLICY?

Almost 20% of Germans die before their 65th birthday. A term life insurance policy provides financial security for surviving dependents in the event of the premature death of the primary wage earner.

WHAT DO YOU NEED TO KNOW ABOUT HEALTH ISSUES?

Always answer health questions truthfully and completely. You should also indicate any circumstances to which you attach little importance. Please note that if you give false or incomplete information, you will jeopardise your insurance cover. Additional medical examinations and certificates are required for insured sums of 200,000 euros or more or in the case of existing pre-existing illnesses. In most cases, it is sufficient for the doctor treating you to provide information about the treatment and form of therapy carried out.

WHO SHOULD TAKE OUT A TERM LIFE INSURANCE POLICY?

For families with children, single parents, borrowers and mortgagees, business start-ups, the self-employed or business partners, a term life insurance policy is indispensable. It offers spouses and life partners mutual security and is highly recommended.

HOW HIGH SHOULD THE SECURITY BE?

The amount of the sum insured is based on the financial needs of the surviving dependants to ensure adequate coverage. Financial obligations of the family, such as mortgages, education of the children, must be taken into account in the calculation. As a guideline, three to five times the gross annual income of the primary wage earner is assumed. When securing a real estate mortgage, the amount can be adjusted precisely to the obligation.