Life insurance is a very interesting agreement for anyone who wants to save money and pass it on or to benefit from a complementary retirement. This is why this investment remains an inevitable action for some people. Many are still asking questions about this type of contract. Here are our answers…
What exactly is life insurance?
Contrary to popular belief, life insurance is not an investment that is only received in the event of the death of the subscriber, but rather the opposite! A successful life insurance policy is a way of insuring one’s life since it allows the insured to recover the sum he or she has saved in the event of death at the end of the contract. So this savings contract is an ordinary investment, but not only a death insurance as it is usually called.
The benefits of using life insurance
Life insurance has several benefits such as lower taxation because by placing the savings in a life insurance policy, one is partly exempt from taxes as early as a few years ago. This is why asset managers and financial advisors always recommend this type of investment at least eight years into the investment horizon. But the possibility of converting one’s capital into a life annuity or a secure transfer of capital is also one of the advantages of life insurance. This is why it is so advantageous to have a successful life insurance policy.
Tips for a successful investment
Life insurance offers many benefits, one of them being preparing for succession or increasing one’s assets. There are, however, some tips to know to have all the chances to make your investment profitable like comparing between the different online insurance policies. Indeed, platforms like panorabanque can help you find the best returns in just one click! You should also take the time to choose between the different management styles, of which there are two: discretionary management and free management. Opening contracts very early is also one of the things to do to make a success of your life insurance, because the advantage of life insurance taxation is reserved for agreements of more than 8 years, which is why you should not wait too long before starting. And don’t forget to check all the fees and also to diversify the risks as well as the contracts. You should not sell when the markets plunge! Last but not least, to be successful, designating a spouse as a beneficiary and investing in an agreement after a few years is not the way to go.