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That's it, you have decided to take out insurance, or guarantee, against life accidents to strengthen your health coverage and that of your family. Only you don't know which one to choose, and of course you want the best! Selection criteria, price, subscription, termination… We will help you see things more clearly. We will see that the best GAV insurance is not necessarily the cheapest because of the many conditions of application.
How to choose the best GAV insurance?
An adapted and labeled contract
Several criteria must be taken into account to choose the best guaranteed life accident insurance (GAV). But before embarking on your research, we recommend that you first take an inventory of the insurance contracts you already have. Indeed, some contracts may contain the same guarantees as those included in the GAV, such as:
- your long-term care insurance;
- options from your mutual health insurance.
So make sure there is no duplication to avoid paying twice for the same coverage!
Furthermore, there is no “best” GAV insurance unanimously designated since the contract must be adapted to the needs of the insured. The notion of the best being relative, choose your insurance because it corresponds to your expectations and not because your colleague recommended it to you. However, only consider contracts bearing the GAV label developed by the FFSA. This label allows you to be sure that the contract meets the minimum requirements in terms of warranty and performance of services.
Compensation or lump sum contracts
We advise you to favor indemnity contracts rather than fixed rates. You will also be able to hear about guarantees indemnifying on “common law”, this is the indemnity contract. This is because indemnity benefits are more advantageous for the insured because they are based on the damage suffered, and not on an amount predefined in advance by the insurer, as can be done with flat-rate benefits.
The flat rate system often compensates you less because it does not take into account all the damages (moral, aesthetic, practical, etc.).
Conditions for triggering guarantees
We advise you to discard the contracts for which the trigger guarantees require an intervention threshold greater than 10%. Now, many insurers set this intervention threshold at 5%, which is much more interesting. Contracts with high PPI rates are therefore of little use for common accidents.
With a low rate, you will be more compensated for milder disabilities, even if the insurance premium is a little more expensive.
Disability is measured by the AIPP rate (Attack to Physical and Psychic Integrity), once your post-accident condition has consolidated (i.e. your after-effects from the accident no longer change). We also speak of the PPI rate (Permanent Partial Incapacity). To give you an idea, the PPI rate of 5% corresponds to the loss of a finger, a rate of 30% to the amputation of an arm.
This is the maximum amount that can be paid when compensating for life accident insurance. It is very often set at 1 million euros per victim, paid either as an annuity (as and when) or as a lump sum (all at once). Some insurers raise this limit to 2 million, so the insurance premium increases accordingly. Others do not have a ceiling, but it is much rarer.
Exclusions of guarantees
Depending on the insurer, you may have more or less cover exclusions in your life accident guarantee insurance contract. Here are some examples :
- dangerous sports (mountaineering, parachuting, scuba diving, martial arts…);
- medical error;
- accidents resulting from biomedical experiments;
- accidents resulting from active participation in betting, brawls, etc.
Read the exclusions of your contract carefully before taking out life accident guarantee insurance!
Note that GAV insurance never covers the following risks: road accidents, work accidents and illnesses.
How do I get GAV insurance quotes?
To find the best GAV insurance, you need to compare offers and therefore get personalized quotes. Several insurance professionals can respond to your request:
- insurers and banks : by going to their sites, in an agency or by phone, you can get quotes tailored to your expectations. However, this is a very time-consuming research as you will need to contact each insurer or bank individually to get your quote. In addition, some do not give full access to quotes but ask you to make contact by phone or go to an agency to continue your process;
- brokers, specialized or not, insurance intermediaries, they neither market nor create contracts. Using their expertise, they study the market and negotiate contracts with insurers so that they can then offer them to their clients, at a lower rate than if they had not gone through their service.
However, their service is not free: most of the time you will have to pay a commission or brokerage fees when you take out a contract. Something to consider before taking any steps with them. In addition, it will be difficult for you to get quotes online because they have not yet developed this channel, you will need to make an appointment with them.
- online brokers, they seem to be the easiest way to get quotes. Often free, a few minutes are enough to get an idea of the best contracts adapted to your needs thanks to their comparators. Thus, online brokers will save you valuable time in your search for GAV insurance.
Reassure me, as an independent broker, offers you its online life accident insurance comparator. The latter is 100% anonymous, free and without obligation. In just a few clicks, you will get quotes with the best GAV coverage, that is, the one with the best quality / price ratio in your situation.
How to take out the best GAV insurance?
To take out a GAV contract, we invite you to compare the offers in order to find the best insurance. Once the contract has been chosen, contact the insurer:
- online ;
- by telephone ;
- in agency;
- directly on our site via the comparator.
We also invite you to look at the GAV formula (s) offered by your home, auto, provident insurance … This can enhance your loyalty and give you an even more advantageous offer. Most insurers reward the fact that you take out several contracts with them, but some do not give that gift. So check with your insurance company.
Also pay attention to the definitions given in your contract : This will avoid any misunderstanding as to what the insurer means behind the term “accident” for example.
Finally, take the time to read the warranty exclusions, necessarily set out very clearly in the contract, as well as the intervention threshold, an essential criterion for such coverage.
In general, we protect our property better than ourselves. The GAV provident contract protects you from domestic accidents, which are responsible for 4 times more deaths each year than traffic accidents!
What is the price of the best GAV insurance?
Three main elements affect the amount of the insurance premium that you will have to pay to be protected against risks:
- the number of people designated in the contract. Would you like to cover your family? Your partner ? Obviously, the more people there are to be insured, the higher the premium, due to the multiplication of risks;
- the intervention threshold, measured by the AIPP rate (impairment of physical and mental integrity) seen previously. This threshold is the one from which the guarantees come into play, and is determined after expert assessment of the accident. Basic contracts provide for 30%, but more and more insurers are offering thresholds of 5 or 10%;
- the compensation ceiling, generally set at 1 million euros. It may be accompanied by the payment of a capital (between € 20,000 and € 40,000) in the event of death following the accident.
Some insurers limit the age of membership to 65, but also the age limit until which cover runs. Therefore, pay attention to the conditions of application of the contract concerning the age of subscription and the validity of guarantees as you age.
In addition to these criteria for assessing the insurance premium, more traditional criteria are added, which can be found in most insurance contracts, namely: the age of the insured, the formula chosen, the choice of optional guarantees, etc. We remind you that it is up to you to judge the essential conditions and guarantees in your situation!
Insurers try to stand out on the intervention threshold they set, the subscription age, their formulas, but also the assistance component. Axa, Generali, Gmf, Mma, Swisslife, Gan, Malakoff-Médéric… All of them offer very different life accident insurance policies, hence the importance of comparing offers!
How to change GAV insurance?
Cancel your GAV insurance contract because you no longer want to be covered or to change insurer, is quite possible and has even been simplified in recent years. Thus, you can terminate your contract:
- at expiration date, corresponding to the anniversary date of your contract. However, this date is not always the subscription date (for example, mutual societies set the anniversary date of their contracts as March 1) for administrative management reasons. So check the deadline specified in your contract! To terminate your coverage, you must send your insurer a termination letter by registered mail or electronically, 1 to 2 months before the expiry date.
The Chatel law requires insurers to notify you of the approaching deadline between 3 months and 15 days before the termination date. In principle, you will receive this notice by post. You will therefore be less likely to miss the boat and have to pay your insurance for another year!
- out of date : if your personal, professional or marital situation changes, you can terminate your contract without waiting for the expiry date. The reasons, defined as valid by the Insurance Code, are: cessation of activity, retirement, moving, etc. You have 3 months to report the event to your insurer, termination of the accident-of-life guarantee insurance will take generally effective 1 month after receipt of your letter;
- an increase in your insurance premium without valid justification may be grounds for termination on your part. Here too, notify your insurer of your wish to terminate your contract by registered mail, preferably with acknowledgment of receipt. Please note, some insurers provide for a minimum amount of increase below which this reason for termination is not valid, you will find this information in the general conditions;
- your insurer terminates one of your insurance contracts taken out with him : you can also cancel your GAV insurance.