What is life insurance? A Complete Guide About This.

Life insurance agreement between the insurer and the insurer. In case of death of the insured in lieu of premium, benefit will be paid to the beneficiaries of the insured. The amount paid is determined at the time the policy is implemented.

There are two main types of life insurance plans in the Netherlands:

  • Life Insurance: Covers only a specific period, for example 10, 20 or 30 years.
  • Full or permanent life insurance – generates cash value and is always refundable. It can be considered as funeral or burial insurance.

On this page we only compare life insurance policy.

Why Get a Life Insurance Policy?

Life insuranc can be important with a loved one who is financially dependent on it.

Example 1

Earner of four families. When you die, life insuranc can help you meet your monthly income in the long run. That way, your family members can stay home and pay their monthly expenses:

  • Mortgage costs
  • Settlements
  • The meal
  • Children’s tuition

Example 2

You and your business partner have borrowed money for your work. When you die, the financial partner will eventually pay the debt himself. Life insuranc can cover the cost of the loan and ends with the repayment of the loan.

Example 3

Do you want to get a divorce or are you already divorced? You or your spouse can pay for child support to support your children. However, financial difficulties can arise when the breadwinner dies. Life Insuranc:

  • She can get child support for many years.
  • Your children can pay tuition and / or student accommodation.

Types of Life Insurance Plans

The Netherlands has three different life insurance plans. It would be wise to be aware of different options. If you are having trouble choosing the right plan for your situation, contact your financial advisor.

1. Sustainable environment

Life insurance has a stable environment that will always pay the same amount during the insurance period. This award will be permanent in many cases.

2. Linear reducing coating

A life insuranc company pays less for years with linear shrink coating (linear decking). Coverage is less than the equivalent amount each year. Because, At the end of the insurance period, the payment is equal to 0.

3. Provision of pension

In the early years of Annual Insurance (Innovator Deland Decking), the coverage was very high. However, as the lifespan of life insuranc increases, so does the environment. Because, The rate at which this happens depends on the percentage of annual income. At the end of the insuranc period, the payment is approaching 0.

Compare Life Insurance Plans

It is important to compare existing life insuranc plans to get life insuranc according to your circumstances. Because the situation may be different depending on the policy.

Here are five key points to consider:

  1. Total reward
  2. Packaging (payment)
  3. Term of insurance
  4. How long does an insurance policy last?
  5. One time expenses
  6. Customer happiness

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