What forms of death risk insurance exist

You can take out a death risk insurance for yourself or take out on your partner's life. In all cases, capital insurance will only be paid if the insurance premium is paid on time.

• Lifetime insurance and therefore always comes to benefit on a certain date although the insured person is still alive or not.
• An insurance that gives a benefit if the insured person dies before a certain date (temporary capital insurance).
• Capital insurance that comes to payment on a fixed date (fixed term capital insurance).
• Taking out capital insurance on the life of the other partner. This form is called the cross capital insurance. It is important that the partner pays his or her premium only then can a formal benefit be received if the partner dies.

capital insurance own home

The KEW is attractive for people who want to save through insurance to pay off the mortgage debt. You are required to save in a this insurance product. The money is deposited in a so-called blocking account and no money can be taken from it for fun things like a holiday or a new car. A period of 15 or 30 years cannot be obtained unless you move to another home in the meantime. The condition to apply for a KEW is: it must be a private home, capital insurance must be taken out with an authorized insurer and this product must be a form of life insurance. The advantage of a KEW lies in the interest receipts in the insurance. This accrued interest is taxed as income from the own home. As with the home flats, only the main residence can be considered as the main residence, this also applies to the KEW. However, after the house is for sale, the old house can be considered as its own home for 2 years. The house still does not have a new owner. The mortgage rates of both the old and the new dwelling can in some cases both be deductible at the time of the tax return.

Fictional benefit

In principle, the interest benefit you enjoy from your own home is set by law at 30 years. This means that the capital insurance is also taken out for that period and then comes to payment in order to pay off the mortgage. A fictitious benefit is a benefit that is paid because, for certain reasons, the conditions of the KEW are no longer met. In the following events, the KEW comes to a fictitious benefit.

• Capital insurance no longer meets the conditions mentioned above.
• Capital insurance is bought off by the policyholder.
• Capital insurance is injected into an enterprise.
• The policyholder is going to emigrate abroad.
• The KEW has come to some benefit.
• The insurance premiums are no longer paid by the policyholder.
• The KEW is older than 30 years. The KEW can only be up to 30 years

Conclusion

A capital insurance is a form of life insurance that comes to benefits in the event of life or death. There are 2 different forms of capital insurance: saving for the repayment of the mortgage (KEW) and a payment on a certain date if the insured person is alive or has died. It is also possible to take out insurance on the life of the partner. The insurance will then be paid if one partner has paid the premium for the other partner.