Choosing the right life insurance
Taking out a life insurance policy is a safe and effective solution that has proven itself with a large number of French people. The formulas offered may be different depending on your insurer and your profile. We will see together how to choose the right contract.
The preferred placement of the French? Life insurance
Thelife insurance is by far the preferred placement of the French. In fact, it represents 40% of households' financial wealth, far ahead of bank savings (32%) and the purchase of shares (19%). This product is becoming more and more important in our daily life. In France, it represented 794 billion euros in 2003, reaching 1,538 billion euros in 2013.
How to choose the right life insurance policy?
- – Compare the performance of funds in euros: Do not simply compare the performance of the previous year. Ask about the returns for the past three years to get an idea. This will avoid insurers who artificially inflate their performance to attract new customers.
- – Compare the costs of management, payment and arbitration: take into account the costs offered by your insurer. Payment fees decrease the amount invested in the short term while management fees play in the long term. Negotiate payment and management fees to make them affordable or even free. It is also important to take into account the arbitration fees which are deducted with each new allocation of your funds. You can choose a package or a percentage of the sum.
- – Choose the fund suited to your profile: if you are a novice, take a limited range of funds that the insurer preselects for you. Conversely, if you know the financial markets and want a large autonomy subscribe to a wide range of products. The choice of fund defines the yields.
- – Aim for a low minimum subscription payment: In this way, you can test your insurer and its services without immobilizing all of your capital. If your insurer satisfies you, stay otherwise change.
- – Think about the useful options: it is not necessary to subscribe to all of the management options offered. Identify the options that are useful for you, such as securing capital gains and limiting capital losses.
- – Favor management of your life insurance online: just like managing your bank accounts, internet access allows you to manage, track and carry out transactions simply, quickly and from home.
- – Choose an insurer close to you and competent: A person available to listen to you, to answer your questions and to assist you in managing your contract. He must be able to guide you in the choice of your funds and inform you of the opportunities.
- Do not hesitate to go through a wealth manager such as euodia finance for example who can advise you on the best life insurance of the moment.