Temporary life insurance

The temporary life insurance pays the insured death sum (insured sum) with death of the insured person to the beneficiaries. Sample applications are:

• Security of economically dependent members
• Safety device of commitments
• Carrier tariff for one or more additional insurances (e.g. Inability to work additional insurance)

The temporary life insurance gives it in different developments. Most frequently the temporary life insurance is to be found also equal lasting insured sum and the temporary life insurance with falling insured sum.

The temporary life insurance with falling insured sum is usually used for safety device by loans with continuous repayment. The insured sum takes thereby in the run the time in same measure off (annuity), as the loan is erased. It is offered in this connection Restschuldversicherung so of banks also in connection with loan and credit agreements as mentioned. Frequently actual for the security of the credit giver - the conclusion of such Restschuldversicherung a condition of the granting of credit.

Besides there is the temporary life insurance as a special case still on connected lives. With this form of the temporary life insurance there are several insured persons. The insured death achievement becomes only once due with the death of an insured person during the period of insurance. The temporary life insurance on connected lives serves the mutual security economically from each other of dependent persons (e.g. Business partner, (before) pairs without children).

The contribution (insurance premium) of the temporary life insurance depends on the age, on the sex and on the state of health of the insured person to the beginning of insurance, as well as of the insured sum and the running time (period of insurance) of the insurance. Sometimes also for the practice of certain occupations or leisure activities are required.

Also during a temporary life insurance the life insurer gains surplus to favour of the individual insurance contract. Contrary to the capital-forming life insurance or for old age pension insurance however interest surplus from investments plays thereby an insignificant role. Rather it concerns risk surplus and cost surplus. These result from the fact that the life insurer must furnish fewer death achievements and spend smaller costs than calculated. The insurant receives these surplus either as death bonus or as accounting of contribution. With the death bonus the insured sum is increased by the obtained surplus. , They do not remain to footstep the accident with the life insurer. Regarding the accounting of contribution the surplus is charged immediately with the calculated insurance premium, so that a reduced number contribution results. The calculated contribution becomes in this connection as gross or tariff contribution, which reduced contribution by surplus as net contribution designation. Footstep the accident during the period of insurance, no further achievements do not become due.

In principle there is also the possibility of accumulating and of disbursing with the death achievement or with the expiration of the period of insurance the obtained surplus interest-bearing. This variant is today still offered hardly and is predominantly still with temporary life insurances to be found, which were locked until approximately 1980.

Although temporary life insurances do not have a savings portion, it can come with a premature notice of the insurance contract to a capital disbursement. This is because of it that the life insurer forms a covering resetting for the covering of the risk from the risk portion of the insurance premium, from which dependent on the Tarifgestaltung a repurchase value result can. In principle it concerns with this assets premium pre-payments. At higher age a higher annual risk premium is needed. The insurance premium is however constant and to a certain extent over the running time a means over the low at the beginning of and the high final premium.

Capital screen end life insurance

The capital screen end life insurance combines death security and savings plant. It pays the insured death sum with death of the insured person to the beneficiaries for the death. If the insured person experiences the expiration of the period of insurance, the experiencing drop achievement is disbursed to the beneficiary for the case of experiencing (usually the insurant). The subscription right can be specified by the insurant separately for the experiencing and death.

The capital screen end life insurance is one particularly in Germany - among other things also because of the tax treatment of the yields favorable in the past - wide-spread form of the investment of funds, although the linkage of insurance and savings procedure of is criticized. With beginnings of contract starting from 1 January 2005 disbursements of life insurances are however no longer taxfree. Old age pension insurances are further for taxation favoured, as far as the disbursement takes place in form lifelong pensions. (Frequently the possibility exists of being able to be disbursed the saved capital in an amount the capital compensation in such a way specified.) above all the Riester pension and pension are promoted for taxation, then however no capital right to vote exists. See also precaution expenditures, extra charge departure, age precaution extra pay. Into as far the saved taxes exceed a net yield with other plant forms is however questionable.

In Austria the capital screen end life insurance (like also the fund-bound life insurance) is called off and experiencing insurance.

The capital screen end life insurance has several typical applications:

• Investment, savings product.
• Survivor precaution, in addition, for covering that inheritance-expensively, so-called "“false"” (inheritance expensive insurance).
• Combination product for family security and to the structure of capital (usually with the goal age precaution)
• Loan safety device, in particular in connection with real estate financings
• of pension promises in the operational age precaution (back covering insurance)
• Investment for a certain purpose, which is not to be achieved also then if the investor the end of the savings procedure deeply felt (e.g. the training insurance and the endowment insurance).

If one wants to divide the capital screen end life insurance into different developments and groups, then is to be separated sharply between sales designations and tariffs. Tariff-technically belongs for example the inheritance expensive, the fortune follow-up and the death benefit insurance to the same wage group and do not differ with many life insurers technically usually. Before this background the following tariff-technical partitioning results:

• Insurance on death and case of experiencing, also as mixed life insurance admits (classical capital screen end life insurance)

  Both the death and the case of experiencing represent an accident and lead to achievements. With these tariffs the death protection can be usually increased also without the conclusion of an appropriate additional insurance.

• Capital insurance with lifelong death protection (e.g. Death benefit insurance)

  The payment of dues duration of this life insurance ends frequently with a certain age (e.g. 80 years). Afterwards the life insurance remains existing noncontributory to the insured person dies. Some tariffs offer the possibility of calling at the end of the payment of dues duration an experiencing drop achievement up so that the life insurance is terminated or with a reduced insured sum existing remains.

• Capital screen end insurance on two connected lives

  With this variant it gives two insured persons. The insured sum becomes only once due with the death of the insured person dying first during the period of insurance, at the latest however with the agreed upon operational sequence.

• Term fixed insurance (e.g. Training insurance)

  During the term fixed insurance the insurance benefit becomes a pre-determined date (end of the period of insurance) due - independent of whether the insured person experiences this date. Footstep the accident, is void only the payment of dues obligation, the insurance benefit becomes only for execution due.

• Option tariffs

  This column is a storage tank for all organization variants, which cannot be arranged in the partitioning specified above. Possible death achievements e.g. reduced, adjustment options are at run time or different expiration operational sequence.

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