Worry about the most popular investment among Germans – life insurance (82 million contracts)!
the Federal financial supervision Bafin explained to BILD: Around 20 of around 80 life insurers are currently under “intensified supervision”. But that’s not all: around 40 pension funds are also monitored by the Bafin.
Explosive: This “intensified supervision” comes into play at the Bafin Institute, where government officials fear long-term financial difficulties.
+++ BILD is now also on TV! Click here for BILD LIVE +++
The reason for the imbalance of the health insurance companies and insurers: the zero interest phase! In the past, the institutions gave their customers high interest guarantees for their savings, which they can now only keep with great difficulty. A spokesman for the Bafin told BILD that the insurers were facing “great challenges”.
BILD answers the most important questions from savers!
► Should I cancel my life insurance now?
Just don’t! “Old contracts should never be terminated hastily,” warns consumer advocate Dorothea Mohn. Instead, insured persons should seek advice from an independent expert as to whether it makes more sense to either continue saving the contract, make it non-contributory and wait until the due date – or cancel it entirely.
► Do insurance customers lose their savings in the event of bankruptcy?
No! The guaranteed service (insurance premium minus costs, plus guaranteed interest) is protected by the statutory “Protektor” security fund. The surpluses that have already been promised are also secure.
► Is it still worth taking out a new life insurance policy?
Probably not, believes consumer advocate Mohn: “If you want to make provisions for old age, you should avoid insurance products.”
.