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Savings insurance

What is savings insurance

Savings insurance is a combination of savings and insurance. Premiums are paid for a certain period. The money saved is saved so that later, on a predetermined end date, a payment or benefits can be received. With a savings insurance policy, a capital is only paid if the insured person is still alive on the end date of the insurance. If the insured dies before the end date in the policy, he will not receive anything (that is the risk), unless he takes out insurance with a refund (refund). In the latter case, the premiums paid (or the accrued value of the policy) will be reimbursed on the death of the insured before the end date of the insurance. Naturally, insurance with a refund is more expensive, which means that less capital will be built up!

Savings insurance often includes quite a few costs. The question is what the return is if these costs are taken into account. If the return is higher than the return of a normal savings account or deposit, it can be an interesting product. Do take into account the fact that savings insurance often has a long term. In general, therefore, a savings insurance policy is only interesting if your savings horizon is very long and you can and want to miss the savings for 10 years, for example.

Main features of the savings insurance

We have listed the most important properties of a savings insurance below:

  • combination of savings and insurance;
  • costs as a result of which the return is often disappointing;
  • the money is not available in the meantime (or at considerable expense);
  • savings insurance is not covered by the deposit guarantee scheme ;
  • only interesting if you want to put your savings away for a very long time.

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