RISK LIFE INSURANCE
For a new car, many people ensure/secure some type of casco (Casualty and Collision) insurance in addition to the mandatory insurance without thinking. Interestingly, risk life insurance is still relegated to the background, even though, if you think about it more, it is nothing more than a “human casco”, which an average money maker / head of the family should tie to his most valuable value-creating “asset”, i.e., himself. After all, what happens to the family if the money maker / head of the family even temporarily – loses his earning capacity. How will they cover their loans and monthly living expenses if they have neither income nor substantial savings? Risk life insurance provides a solution for this, taking a huge worry off the family’s shoulders in the event of an emergency.
There are group risk life insurance policies, the advantage of which is their relative cheapness, since you have to sign a contract with the insurer not as an individual, but as a member of a homogeneous group, everyone is entitled to the same conditions, regardless of age, gender and other characteristics (obviously within certain limits, e.g. 65 years is usually the maximum age until someone can be insured in such group life insurance). Their disadvantage is that they are inflexible, the group only operates with pre-negotiated conditions and insurance amounts, and there is a risk that if the organization operating the group dissolves, the insurance will cease.
Another large group is individual risk life insurance. The advantage of this is that it can be contracted with conditions, insurance amounts, and additional extras according to our own needs, and we can even contract it for a fixed period (15-50 years). This is important because the annual premium is more favorable when you are young, obviously, if a 30-year-old wants to ensure risk life insurance, the insurer will take on the risk much cheaper than if the same person took advantage of the insurance at 50. During the period, the annual fee is fixed (may be indexed to inflation), but it is basically easy to calculate with. In addition to mortgages, it is strongly recommended that the money maker / head of the family ensures one for himself at least in the amount of the loan amount + the family’s annual living expenses for the term of the loan (or at least 2/3 of it). The disadvantage is that it is more expensive than group insurance because of the individual contract.
Do you need life insurance? Contact us on any of our contact details and you will be guaranteed the best solution for your needs.