At wedo.insure we know very well the importance of a proper retirement plan. Depending on the profile of each customer, we find the insurance product that corresponds to the specific need. Fortunately for you we represent all insurance companies and we have at your disposal all the retirement plans! Because we know you will be wondering, here are some answers to the most likely questions.
Stability and the level of contributions are the most important factors for the successful completion of a retirement plan. The more money we can put into a program, the more pension capital will be paid in proportion to the end.
Unlike state-sponsored retirement, where age limits can be changed, in private insurance you have a free choice of retirement age.
The insurance company will inform you shortly before the end of your contract in order to decide how you wish your pension to be paid. It is important that the retirement process starts the next month after the expiration of your contract!
The “key” procedure is the income proportional, based on which the amount of the pension and the contributions is formed. More simply, the determination of the amount of your private pension should ideally be around 30% of the monthly income, while the contributions for securing this amount should not exceed 10% of the monthly income.
There are two basic types of pension plans: The classic pension plans that give guaranteed returns and Unit Linked pension plans, which according to your investment profile you can choose how to invest your premiums by a wide range of financial instruments (shares, bonds Mr. .a.), but without guaranteed performance, but with the possibility of achieving higher returns over time.
At the end of the program, you can receive the agreed amount either as a lump sum or as a monthly lifetime benefit. You also retain the right to liquidate your savings account at any time before the end of your retirement plan.
In no case. Once the agreed pension amount is paid, it remains unchanged throughout your retirement.
Insurance companies are now subject to regular audits by the Supervisory Authority (Bank of Greece), while they are obliged, based on the new way of calculating the Solvency of insurance companies at European level (Solvency II), to publish annual reports with their financial indicators.
In addition, the establishment of the Private Life Insurance Guarantee Fund aims to cover you either by finding a contractor insurance company, in case of revocation of the operating license of the insurance company in which you are insured, or by compensating you up to the amount of 30,000 euros.
For any additional information, the wedo.insure team is here for you!
SOURCE : https://insuranceworld.gr
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