Personal benefit insurance

How to choose your personal benefit insurance

The arrival of a child, the loss of a loved one, an aging body, the anticipation of misfortunes are all reasons to think about taking out personal benefit insurance.

Also known as “life insurance”, this option allows you to anticipate the vagaries of life by preparing your estate.

However, the plethora of choices out there means this is no simple task – which is where Hestia Finances Investissements and our team of expert brokers can come to your assistance.

Which is the right personal benefit insurance for you? How does one choose the right life insurance? We are here to advise you.

What is personal benefit insurance?

Life insurance is a personal benefit policy that you take out with an approved organization to protect you and your loved ones in the event of misfortune (disability, medical leave of absence from work, death). Your beneficiaries are paid a death benefit. Emergency aid to cover the costs of funerals can also be included. You can also benefit from regular annuities in the event of incapacity to work, for example.

If you have decided to take out life insurance, the benefits will be paid to the people you named in the insurance policy. This amount is exempt from inheritance tax and sometimes also from income tax.

To tailor your life insurance policy and find the best offers, get in touch with our brokers! We are here to help you.

And make you also explore borrower insurance.

Taking out a life insurance policy: your options

From a legislative point of view, personal benefit policies must be offered by structures approved by the government in order to be guaranteed. There are many questions you should ask before taking out a life insurance policy. They concern the choice of the organization with whom you will sign the contract, the terms and conditions of subscription, the different rates you are offered and the conditions for payment of the relevant compensation.

Taking our life insurance with your bank

This is your easiest option, the one which spares you all the administrative formalities – it is on your bank account where you receive all your income and where all current operations are carried out (transfers, direct debits etc.) . You may even have taken out your car or home insurance with your bank branch.

The policies offered by banks are, however, not very sophisticated when it comes to life insurance: you can quickly end up subscribing to funds under-performing funds. It is up to you to pay attention to the terms of the policy – and if this is not something you do for a living, things can quickly become complicated.

Taking out life insurance with an insurance provider or a mutual insurance association

Life insurance companies are public limited companies or mutual-type associations which are subject to the Insurance Code. Your general insurance agent will offer you a slightly more sophisticated offer than your banker, but will also have to satisfy his employer. So watch out for offers that are too vague. His advice will, however, be better than that of your banker, since insurance is his job!

Why use a life insurance broker?

Our brokerage firm specializes in insurance; this is what we do for a living and we are therefore familiar with all the legislative and administrative machinery, as well as the most profitable investments. Taking into consideration your family, professional and financial circumstances, our asset management advisers will shop around for the most suitable offers for you. You are therefore guaranteed to find the personal benefit insurance best suited to your needs.

We take into consideration several criteria:

  • the rate of return, the guaranteed minimum rate and its terms of payment, the stability of the rate of remuneration over time,
  • the performance of the funds and the investment vehicles proposed by the organization,
  • the existence and application of minimum guarantees and increased guarantees,
  • the management options offered,

the payment of an annuity or a lump sum.