Four reasons to take out death insurance

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irrefutable advantages of death insurance.

1. THINK OF YOUR LOVED ONES

You get married, have children, etc. If you die, your spouse remains alone with only one income, while the fixed costs remain largely the same. Thanks to death insurance, you protect your loved ones from financial worries. 

Do you have group insurance through your employer? Then check to see if it includes a death benefit and what the coverage is. If the coverage is limited, take out additional death insurance separately.

2. PROTECT THE PURCHASE OF YOUR HOME

Imagine: you are building or buying a house with your spouse, but you die suddenly. What will happen with the repayment of the mortgage if there is only one income left to support the family? In such a situation, many problems can be avoided with outstanding balance insurance. It is also a form of death insurance, which will ensure that (part of the balance or) the balance still to be repaid on the mortgage is paid by the insurer. Outstanding balance insurance is not a legal requirement, but is often requested by the credit institution. It is, in any case, recommended. You are also advised to insure 100% of the borrowed capital on each spouse's life. Thus, in the event of the death of one of the two spouses, the loan will be repaid immediately in full.

3. ARE YOU SELF-EMPLOYED? PROTECT YOUR BUSINESS

If you are self-employed, there is a good chance that you have taken out loans. Protect your loved ones from the financial consequences of your death, because your loved ones will have to take care of the debts. If you have a company, it can pay the premiums and deduct them as business expenses.

If you work with several partners in the same company, you can guarantee the continuity of the company by means of death insurance. Read here how this can be done.

4. TRANSFER YOUR ASSETS WITHOUT ANY PROBLEMS

When you purchase death insurance, you must designate a beneficiary. By choosing the beneficiaries carefully (and describing them correctly in the beneficiary clauses), you can transfer your assets to the next generation in a tax-efficient way. We advise you to request the help of a specialist, such as an insurance broker, lawyer or notary.


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