How to choose the right life insurance for you

How to choose the right life insurance for you
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I want to choose the right life insurance for me. How to do ? In fact, life insurance combines many advantages in terms of return, availability of savings and tax optimization.

Taking out a life insurance policy proves yet less simple than it seems at first glance. Between the multiple contracts offered by insurers, how to navigate to choose the one that will really correspond to your financial situation and your objectives?

This article will help you see things more clearly by reviewing a series of determining criteria to analyze before taking out your life insurance. Thanks to this comprehensive overview of the key aspects, you will know how to confidently select the best life insurance adapted to your needs. So, ready to make the right choice?

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First of all, how does life insurance work? What are its advantages and disadvantages? But before you start, here's how Earn 70 euros / Day to listen to Music. Let's go !

How does life insurance work?

Life insurance is a contract signed between an insurer and a subscriber. The latter makes regular payments called “ premiums » on the life insurance contract he took out. These premiums are then invested in investment vehicles that the subscriber can choose himself. Throughout the duration of the contract, the gains and income generated by the invested premiums are exempt from taxes, with the exception of social security contributions. The subscriber keeps the freedom to recover all or part of their savings at any time if desired, by withdrawals or redemptions.

In the event of the subscriber's death, it is the insurer who pays a capital or an annuity to the beneficiary(ies) initially designated in the contract. The transmission of this capital on death also benefits from an advantageous tax framework, with only deductions social after 70.

The subscriber also keeps control of the beneficiary clause and the exit options in life annuity or capital. Life insurance thus combines yield, availability and tax and estate optimization.

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Advantages and disadvantages of life insurance

Life insurance is one of the favorite investments of French savers and for good reason: it offers numerous tax and inheritance advantages which explain its success. First of all, at the tax level, the interest generated within life insurance contracts is exempt from income tax after 8 years of ownership. Concretely, as long as the contract is kept, no tax is due. In addition, in the event of redemption after 8 years, the gains made are also completely exempt from taxes. Only social security contributions, at the rate of 17,2%, are applied.

On the transmission side, life insurance allows you to prepare your succession in the best conditions. The capital is in fact transmitted directly to the beneficiary(ies) designated in the contract without going through the estate. This avoids high notary fees and considerably speeds up the procedures for settling the estate.

Furthermore, the great diversity of investment vehicles offered is a major advantage of life insurance. Secure euro funds, riskier units of account, SCPI, SCI… each saver can adapt the supports to their profile and objectives. This unique range of choices makes diversification easier.

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Of course, life insurance has some limits. His management fees are high, between 1% and 2% per year, impacting yield. And the remuneration of euro funds continues to fall, due to the low interest rate environment. But its advantages remain multiple as long as the contract is in line with the profile of the insured.

Tips for choosing a good life insurance

You want to choose a good life insurance for you, there are elements on which you will have to base yourself. Here they are :

🎯 Subscriber profile

First of all, it is essential to clearly understand your investor profile and your wealth objectives. Are you ready to take significant risks to boost your savings or do you prioritize the security of your capital above all? Are you looking to build up additional income for retirement or rather to optimize the transmission of your heritage to your loved ones? Your needs will direct your choice towards more or less risky contracts, with appropriate options.

Do not hesitate to carry out the test of your saver profile on the AMF website to see more clearly about your risk appetite. This in-depth analysis of your situation is essential for selecting the life insurance policy that best meets your expectations.

🎯 Fees charged

This is undoubtedly one of the most determining elements for in-depth comparison of life insurance contracts. Entry fees, annual management fees, arbitrage fees between media, any exit fees, etc. All these different cost items directly reduce the profitability of your contract each year. Compare carefully the detailed tariff schedules of the various insurers to find the most competitive contracts on the market.

Some low-cost players both online and offline are posting today unbeatable fees. This criterion can really make a difference in long-term performance.

🎯 Investment supports

Another determining variable: the range of investment supports offered by each insurer. Funds in euros, more or less risky units of account, SCPI, real estate OPCI, etc. Check carefully that investment options correspond well to your profile determined above. So, for a cautious profile, opt for a contract with a solid and efficient euro fund.

More daring investors will instead seek a wide selection of units of account to boost their performance. There are contracts adapted to each “appetite” for risk.

🎯 Accessibility

Depending on the budget you have for investing in life insurance, you may not be able to afford contracts with a minimum down payment too high. So check well in advance that the entry threshold corresponds to your contribution. Also compare in detail minimum scheduled payments for recurring investments. Some contracts are much more flexible and accessible than others on these aspects.

Life insurance must remain a democratized investment, open to as many people as possible with affordable entry tickets.

🎯 Output options

Finally, study carefully output options offered by each insurer. Not everyone necessarily offers the same methods for recovering your savings or transmitting the capital upon death. Depending on your heritage projects, pay attention to the conditions proposed for partial or total redemption, exit to a life annuity or even the beneficiary clauses. You will thus be able to adapt your life insurance contract in every way to your future needs.

Conclusion

After this in-depth analysis, you now have all the elements to confidently select the life insurance best suited to your situation. Remember that the ideal contract is the one that perfectly matches your investor profile, your wealth objectives, your budget and your future projects. Take the time to study in detail the different aspects covered: ffees, financial support, accessibility, exit options…

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Methodically compare several contracts by focusing on your priority needs. And do not hesitate to make to accompany by a professional, who will guide you according to your profile towards the best options.

FAQ

🚀 What are the important criteria for selecting my life insurance?

It is necessary to take into account the targeted return, the level of risk accepted, the availability of necessary funds, the costs of the contract as well as its transmission characteristics. It is essential to match your personal situation and your savings objectives.

📈 How do I know which type of support to choose (euro funds or units of account)?

Funds in euros are preferred if, above all, you want to secure and enhance your capital without risk. Units of account, invested in stocks and real estate, are preferred to increase your potential gains.

🤔 Should I opt for “new gen” contracts now?

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Yes, new generation contracts are more transparent about fees and offer new management options under mandate, automation of investments, etc. But it always depends on your needs.

👪 What clauses should be included in the event of death or disability?

You can designate your spouse or children as beneficiaries. But it is also possible to integrate clauses such as reversibility for the surviving spouse or education annuities for your children.

💰 Which insurer should I trust with my contract?

Favor reputable players like Generali, Axa, Allianz or Macif. Compare at least 3 to 5 quotes before making a decision. Do not hesitate to consult customer reviews on the seriousness and quality of service.

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