These are the best insurance policies for 2022

protect the family

Term life insurance is intended to mitigate financial damage in the event of the death of a working person.

(Photo: Getty Images)

Dusseldorf Anyone who takes care of their family should also think about the worst case scenario: their own death. Some families are threatened with financial disaster if their current income is lost. In the event of the insured’s death, term life insurance provides a predetermined benefit.

“Term life insurance is important for families to secure current loans and their entire livelihood,” says Bianca Boss of the Federation of Insureds. Policies are not expensive. If you purchase term life insurance, you must choose a flexible rate.

The sum insured must be adjustable according to individual needs without a new health check. Financial requirements can change when a child is born or when a house is built. The sum insured must be chosen in such a way that the return of the property can also be financed.

Rating agency Franke and Bornberg reviewed offers from 30 insurance companies for term life insurance. In addition to the amount of the annual premium, quality is also important in the evaluation. It constitutes 70 percent of the grade. “Services such as extension or increase options make the rates more flexible and update the basic variants,” says Michael Franke, Managing Director of Franke and Bornberg.

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Gross and net premiums each represent 15 percent of the calculation. The net amount indicates what contribution the insured really has to pay per year. Profit sharing is taken into account. The gross premium, on the other hand, shows the potentially possible premium without profit sharing.

Interested parties should purchase term life insurance as soon as possible. In principle, providers also require a medical check-up for this insurance. The older a person gets, the more likely they are to get sick. Then risk surcharges are possible or the insurer rejects the insurance application.

>> Read also: The best accident insurance

In the example of a 30-year-old employee, 18 of the 30 provider rates can achieve the maximum rating of “very good”. Three providers achieved the maximum number of points of 100. Basler Lebensversicherung offers the cheapest policy with the “Risk Insurance Premium”: The annual insurance premium is 80.16 in the sample case for coverage of 100,000 euros. Those interested can choose between an insurance sum of 50,000 euros up to one million euros.

Subsequent insurance is possible for the birth of a child, marriage and the purchase of a property, but also without reason at the beginning of the sixth or seventh year of insurance. The sum insured can be increased by a maximum of 100,000 euros. If they wish, policyholders can opt for the automatic adjustment to the rate of inflation. Given the current sharp rise in prices, more and more policyholders are opting for this option.

Allianz Lebensversicherung also achieved the highest rating with its “RLV Plus” rate. Here the insurance can be equipped with a dynamic adjustment of the sum insured. In the sample case, an insured person has to pay 83.74 euros per year. He or she can combine term life insurance with accident insurance. In principle, the policy can be extended for 15 years without a new medical check-up.

With Dialog Lebensversicherung, whose “RLV Risk-Vario” tariff also reached the maximum score of 100 points, the annual premium is 92.24 euros. In case of payment difficulties, a deferral of contributions without interest is possible for a period of up to 24 months. Insurance protection remains intact. The insured sum can be increased by EUR 100,000 during the term.

Plus: The best disability insurance

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