Alexa Seleno

How to choose the best life insurance?

Juil 10, 2023
How to choose the best life insurance?

best life insurance

Many French people appreciate life insurance. A financial investment that brings many advantages such as supplementing your income during retirement or developing long-term savings. It is important to choose the ideal life insurance contract since it is not transferable from one organization to another. Find some points to check to subscribe to the appropriate contract.

A good establishment for your contract

Subscribing to life insurance means choosing an insurer who takes care of the management of your contract. In this case, it is essential to choose the organization to subscribe to the life insurance contract. Several players exist on the market to allow each saver to choose the financial institution that suits him best. It can be an online bank, a subsidiary of a mutual insurance company, an insurance group, etc. You need to check the financial strength of the organization. The reputation of the latter is also an essential point to take into consideration. Pay attention to generous top bonuses. Remember to take out several life insurance contracts with several distributors since the State is the guarantor for large sums. Feel free to use a comparative to find the best deals on the market. Life insurance contracts must bring you money, so avoid contracts with too many fees.

Determine your savings profile

Make sure you take the time to define your savings profile before investing your savings. Several parameters can be taken into account such as age, the level of risk you are ready to take, your temperament, your knowledge of the financial world, your savings that you wish to commit or your objectives. Once you have considered its criteria, you will have your investor profile in order to choose the appropriate contracts. You will also have the opportunity to choose the ideal distributor (online broker, traditional insurer, online bank, etc.).

life insurance costs

This is an essential factor in choosing the right life insurance contract. Each operation is an opportunity for the insurer to apply fees (management, arbitration or payments). It is recommended to focus on reasonable fees, as they may reduce the gains from your investment. Fees can be negotiated. However, avoid insurers who charge more than 1%. The lower the fee, the more attractive the contract.

So, compare the fees to make the right decision when choosing your life insurance policy. This makes it possible to know the differences in costs between the different products that exist. Management fees vary according to the type of management selected. Installment fees are usually substantial, but they are negotiable.

Pay attention to the performance of the fund in euros

The quality of a life insurance contract is linked to the return of the fund in euros. Despite a fairly low rate of return, euro funds retain their value. To be interesting, its yield must be greater than 2%.

Check that the fund in euros of your life insurance has low costs while guaranteeing a reasonable remuneration compared to the competition. Don’t choose a high-yield euro fund without considering the fees that are deducted from earnings.

Subscribe to several life insurance contracts

It is interesting to take out several life insurance contracts, obviously favoring quality. The objective is to limit the risks. Indeed, we must always think about diversification. You can open several life insurance policies depending on your savings profile. This also makes it possible to bring competition into play given the diversity of offers available. Thus, the saver will prefer to take out several life insurance policies instead of one from different establishments.

The magazine-insurance team of editors at your service! We look at all possible and imaginable information on insurance in order to help you sort it out. We strive to offer you quality articles to help you better understand the issues of this or that insurance.

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