Secure savings with the insurance company.

Posted: September 9th, 2013 | Author: | Money

Safe and effective saving is the dream of every person who deposited their savings through some financial products and financial insurance services.

▓▒░ Emiraty ░▒▓ / photo on flickr

▓▒░ Emiraty ░▒▓ / photo on flickr

What is the difference between saving with the insurance company from the one from the bank? The main difference is a legal form which is completely different and therefore relate to the very different rules and taxation. Discussing the details of these differences, it is not necessary the purpose of the article. It is common, however, that policies have a long term and a bit higher rate of interest, in addition to frequent communication with a particular insurance. This is generally true, although in this rule there are exceptions. The difference that is negative for choosing the insurance companies is that in the event of a fall and insolvency claim Insurance Guarantee Fund is not required to pay the full amount, but only a part of it (50%). It sounds terrible, but let’s try to remember what was the last time an insurance company collapsed? It does not happen every day and it is very rare, so the risk is minimal.

Saving from the use of policies is very similar to saving in the bank, because investment products are quite similar to each other. In general, the policies can be determined on what level of risk you want to take and then we can use two types of savings products – poliso-term deposits that are confusingly similar to bank deposits and structured products also look just like their banking counterparts. The main difference here is not typical banking products like savings accounts, but the savings in insurance companies is becoming increasingly popular and are worth to consider, especially if you are planning a longer investment.

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