Financial relief for the relatives

Death benefit insurance is not intended for you. Rather, take out death benefit insurance in order not to burden your surviving dependents and relatives financially as a result of your death. Many people do not want to make their funeral a financial burden as well as an emotional one. This is exactly where death benefit insurance helps. In the following expert article, you can find out what you have to pay attention to when insuring a death benefit and where you can easily take out a death benefit online.

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Does death benefit insurance even make sense?

At the beginning, however, one must first ask the question to what extent a death benefit insurance or also called death insurance makes sense at all. You are also welcome to watch the following video from me. Otherwise just read on.

n 2004 the so-called Death benefit that until then there was still statutory health insurance, abolished. This could be used for the burial of the deceased. Nowadays you have to Funeral expenses however, they usually pay from the inheritance of the deceased. And if this is not enough, put it out of your own pocket on top. And this can really help the bereaved financial problem become.

Funeral costs of several thousand euros

Depending on the scope Funeral expenses can amount to several thousand euros very quickly. Gravestone, funeral service and continuous grave maintenance must be paid for.

And right here can one Death benefit insurance be provided. The performance from the Death benefit insurance If an adequate sum insured has been chosen (more on that later), these costs are covered. A financial burden the family is avoided.

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How a death benefit insurance works

How exactly does death benefit insurance work? And who is actually the policyholder and insured person in a death benefit insurance?

How the Death benefit insurance is explained relatively simply in principle. If the insured person dies, the stipulated one becomes Sum insured to the bereaved or to the explicitly named Beneficiaries paid off.

In terms of product, death benefit insurance is one of the Endowment life insurance . With the difference that here the goal is not a later pension payment to the insured person, but one One-time payment in the event of death the insured person and the beneficiary.

Once completed, it does not matter when the death occurs (note waiting times!).

Online conclusion possible without any problems

At the conclusion, which incidentally, due to the simplicity of the product, without any problems be done online can (more on this below, incl. our recommendation ), you have to pay attention to who Policyholder is and who insured person .

Insured person is always the person who is responsible for the payment of the sum insured in the event of death. In other words, if this person (insured person) dies, the agreed benefit is due.

Of the Policyholder on the other hand, the choice is relatively free. This can also be the insured person or the spouse or a child. The same applies to the contributor.

In many cases, everything is always the same person, as it is often hidden from the family that one has taken out death benefit insurance. This is probably due to the fact that this is simply not a topic that families like to discuss. But families should possibly do more often.

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How high should the sum insured for death benefit insurance be?

The amount of the insurance is essential. If this is set too low, it will not be enough to cover the funeral costs. If it is set too high, you pay an unnecessarily higher contribution.

As with most other insurances, which are supposed to pay a fixed sum insured at some point (e.g. Occupational disability insurance ), the contribution to death benefit insurance is based on the amount of Death benefit . But that too Age the insured person and their health status play a role.

About a Online calculator you can quickly and easily calculate the monthly premium for sum insured X.

Insured amounts between € 2,000 and € 8,000

As a rule, sums insured between 3 €, 000 and € 8,000 elected. But as mentioned earlier, this is a very individual topic . Some funerals also cost a lot more. With death benefit insurance, you also have the opportunity to do so own wishes To organize a suitable funeral, because you know exactly how much money the bereaved will have available for it.

Also with regard to the current costs After the funeral, a higher sum insured is recommended.

Waiting times, duration and contribution payment period

In addition to waiting times, the duration of the contribution payment for a death benefit insurance must also be taken into account.

waiting period

With a death benefit insurance there is usually one waiting period . There are also tariffs without waiting times, but here you have to assume that the insurer has a comprehensive report health status from the insured person. Death benefit insurance with a certain waiting period is common.

This means that after taking out death benefit insurance, only the agreed waiting time must pass before you are also entitled to the insurance benefit. If the insured person dies during the waiting period, no payment is due.

That of us recommended providers for bereavement protection / death benefit insurance even has Tariffs without waiting just a fairly simple risk assessment. The questions can be answered here directly in Online application get answered.

running time

Once taken out, death benefit insurance runs until the insured person dies. So you have here lifetime insurance coverage . What is special, however, is the period of contribution payment.

Duration of contribution payment

Even if the term of the insurance is up to End of life goes, it may be that the Duration of contribution payment stops earlier. In other words, after a certain age you don’t pay any more contributions, but you still have insurance cover until the end of your life.

For example, the contribution payment period could stop at the age of 80. You can do this at Freely determine the degree .

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Which insurer should you choose?

Choosing the right insurer is crucial for any insurance policy. This is also the case with death benefit insurance. This is why you can use our comparison calculator to compare death benefit insurance and then conclude it directly online.

Choosing the right insurer is essential so that there are no nasty surprises in the end. I suspect you will agree with me here. As with other insurance companies, you should also compare different providers here. Fortunately, since the trigger of the insured event is very clear with the death benefit insurance, you do not have to pay attention to extremely many details when choosing the right insurer for the death benefit.

Below you will find a comparison calculator with which you can easily calculate death benefit tariffs. In addition, the simple online conclusion is then also possible in a few minutes.

An insurer that specializes in bereavement provision is Monuta . That is why we also recommend the tariffs of this insurer. You will also find different tariff variants in the comparison calculator (e.g. with or without waiting times).

Here are the highlights of the Monuta accident prevention plan summarized for you:

  • Lifelong coverage
  • Guaranteed contribution amount
  • Pension benefits are protected from government access (not so if you are saving in a bank account!)
  • Free child insurance
  • Double payment in the event of accidental death
  • Worldwide insurance coverage
  • If desired, also specify funeral requests
  • Free initial telephone consultation on legal pension issues

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Frequently asked questions

In our FAQ you will find answers to other frequently asked questions.

How high should the sum insured be?

In order to determine the correct level of protection for the death benefit, the most important thing is the cost of the funeral. A protection of at least € 5,000. In the comparison calculator on our website, you can easily compare how much death benefit would cost € 5,000, € 7,500 or € 10,000. Depending on the duration, the contribution also differs here. In contrast to term life insurance, the sum insured does not have to be extremely high, since it is not about the financial security of the relatives themselves, but about the costs of the funeral.

Is there a death benefit insurance without a health examination?

There are death benefit insurances with and without a health examination. Death benefit insurance without health issues usually includes a waiting period. If the insurance cover is to be available immediately after taking out the insurance, this is only possible with a health check or with additional health questions. In the comparison calculator for death grants, you can recognize tariffs with a health check by the fact that there is no waiting time. In contrast, death benefit tariffs with a waiting period (e.g. 24 or 36 months) generally do not require a health examination.

What does waiting time mean for death insurance

As already briefly mentioned under the point “Death insurance without a health examination”, a waiting period means that the insurance cover is not available immediately after taking out the insurance. Depending on the agreed waiting period (e.g. 24 or 36 months), the insurance cover does not apply until this waiting period has expired. If the insured person dies during this waiting period, the relatives will not receive any insurance benefits, but only the contributions paid up to then. A death insurance without waiting is also possible. However, some health questions must be answered here in advance. If you do not want to answer these questions or if the health questions would prevent insurance cover, then death benefit insurance with a waiting period is recommended.

Are the contributions to the death insurance tax deductible?

Yes. In the income tax return, contributions to a death insurance can be stated as pension expenses (note the maximum deductible amount!).

Who receives the sum insured in the event of death?

The policyholder himself can specify in the contract who should receive the sum insured after death. If the insured person named in the contract dies, the person named in the contract as beneficiary receives the insured death benefit. If no beneficiary was explicitly named in the insurance application, the heirs receive the insured amount.

Up to what age can you take out death insurance?

As you can see in the comparison calculator, it is generally possible to take out death insurance up to the age of 85. The contributions increase accordingly with the age of the insured person. The earlier you take out death benefit insurance, the cheaper the contributions. After a certain age, it can no longer make sense to take out death insurance.

What funeral costs should one expect?

Funeral costs can vary depending on the scope and personal wishes. On average, a funeral costs around € 7,500. In addition, there may be ongoing costs such as tending the grave or other obligations that the deceased left behind for relatives. This should possibly also be taken into account with the sum insured.

Who can take out death insurance?

On the one hand, of course, you can take out death insurance yourself. In this case you yourself are the policyholder and the insured person. However, it is also possible for the children or other relatives to take out death benefit insurance for their parents, grandparents, etc. Here, for example, the child would be the policyholder and the parent to be insured would be the insured person.