Life insurance: often referred to as the last taboo, our own death--or that of a loved one-is so painful to contemplate that many of us leave life insurance to accident or fate. However, discussing and planning for it can give you and your relatives peace of mind.

To ensure that your survivors are provided for financially in the event of your death, look at your existing cover. Life insurance can help to pay bills, continue a family business, pay for your children's education, protect your spouse's retirement plans or repay a property loan. In Switzerland, obligatory company pension provision complements the state insurance. The level of additional insurance cover is often left to the individual, unless a minimum amount is required to cover a loan. You may wish to provide enough cover to settle outstanding debts and fund funeral expenses. Insurance policies also include a beneficiary clause, specifying the person or organisation named as beneficiaries of your policy in the event of your death or another insured event.

Main types of life insurance policies

Protection policy: Following a specified event (e.g. your death), this policy provides a benefit, typically a lump sum payment. A common form is 'term life insurance' (for more details, see below).

Investment policy: This policy facilitates the growth of capital by regular or single premiums. To compare policies on price...

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