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How to choose the best life insurance?

Contrary to what many people think, life insurance is not valid only in the event of death. In fact, it is an essential element in ensuring the quality of life of the family in the event of unforeseen circumstances. It is an investment in a savings product, which provides an excellent return. In this sense, you have to know how to choose an insurance contract that meets your needs and objectives.

Life insurance: the insurer plays a very important role

Life insurance is designed to cope with an unexpected death, and helps protect dependents from financial difficulties that may arise after the death of the insured. In this perspective, it is important to know the decisive criteria to find the best life insurance to choose .

The type of support

The most advisable option to have savings is to invest in a mono support investment or a fund in euros. The contract is managed by the insurer and the capital invested is always guaranteed. So you have to think long term to assess the return and performance of your investment. A rate of return of 2% or more is always attractive since it exceeds that of the Livret A.

We must also pay attention to the choice of the right insurer, who must be able to generate profits, even in times of crisis. The insured can opt for a multi-support life insurance contract or a unit-linked contract. It is a very advantageous insurance contract, because the gains are more attractive than with a euro fund, although the risks are high.

The insured must manage part of his savings. To do this, he must have a wide variety of unit of account (real estate funds, stocks, bonds, mutual funds, etc.). This diversity increases earning opportunities. The choice of insurer is very important, since it will have to come to the assistance of the insured in case of need and bring its experience.

Management methods

Life insurance provides access to several management options. It is up to the insured to choose the means that suit them. In general, there will be a choice between three types of management:

  • Managed management: the insurer will take care of monitoring;
  • Free management: the insured takes charge of his insurance contract;
  • Streamlined management: located between free management and managed management, which means that the insured takes care of the management of his funds and will be assisted by his insurer.

Management methods take different forms depending on the insurance company. For this reason, you must opt ​​for life insurance which offers the management method best suited to your profile. Also, the insurance company must be able to offer its client the possibility of switching to another management option when he wishes.

Life insurance costs

The extra costs mean less profit. Therefore, there are three types of fees to compare: management , installment and arbitration fees . Payment fees are negotiable and are deducted on each payment, even if some insurers do not offer them.

Management fees are obviously much higher when it comes to a multi-support contract. It is important that the payment fees do not exceed 3.5% and the annual management fees must not exceed 1%. In this regard, good life insurance involves fewer costs. In order to find the best contract, it is recommended to find an offer with 0 payment fees and not to exceed 0.6% in the management fees.

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