Choosing the life insurance contract

If you want to grow some of your wealth through a contract of life insurance contracts that need to sell advertising, or sellers who make appointments later in the evening at home, or the contract offered by your bank, are perhaps not those that best meet your needs. How to navigate the myriad of life insurance contracts that exist? Here are the lessons I took away from my research.

A. What for?. As always, better know what you want. Would you take out a policy of life insurance primarily to transmit a heritage to your descendants, to ensure a comfortable retirement, or to obtain additional income which you will draw on as and when? Depending on your goals, you will not need the same number of investment funds available through the same contract or contract term life insurance, for example.


Two. Set your goals. Depending on your goals, the gains you expect, and therefore risk-taking that you are ready to take, will not be the same. Do you have a gain of 5% per year or 20% per year? How much you want to get to the end of your contract? Would you like a dynamic management? Would you choose yourself all your money or let your broker or banker to do it for you? You will then not need the same tools and same advice.

3. Check the type of contract. There are two types of contract. Collective agreements and individual contracts. Better to buy an individual policy because any changes to this agreement will be made with your permission. Under collective agreements, it is often an association that manages the contract … and agrees with the insurer. Unfortunately the majority of contracts are on the market of collective contracts. But better to know before purchasing, especially if this distinction is important in your selection criteria.

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