Life insurance savings, such as SmartFlex, combine saving for retirement and risk insurance against incapacity to work and/or death in one single product. As an insured person under these plans, you can choose which risks you wish to insure against and how you want to save for your old age: the money is divided into a compensating balance and an income-earning asset according to your investor profile. The compensating balance has full legal protection. The income-earning asset is invested in equity funds offering the chance of attractive returns. As investments are exposed to fluctuations on the financial markets, there are always opportunities, but also risks. Our broad diversification  The term diversification comes from economics. In the financial sector, it refers to spreading capital as widely as possible across different markets, sectors, currency areas and securities. The aim of diversification is to reduce risks.  and long-term investment horizon can balance out market fluctuations somewhat and reduce risks. It is always important to set out your personal investment strategy in advance, for example at a consultation. Both the allocation of your compensating balance and income-earning assets and your investment theme for the funds can be modified at any time. You can take out a life insurance savings plan in pillar 3a (fixed plan) or pillar 3b (flexible plan). With the fixed plan, you enjoy tax savings as the insurance premiums can be deducted from your taxable income up to the legally defined maximum (see “Good to know” at the bottom of the page).

You should consider a life insurance savings plan if you are looking to cover yourself and your family against risks in the event of death or incapacity to work, make provisions for old age and enjoy tax savings all at the same time. 

Life insurance plans offer pure risk insurance, protecting your family from financial losses in the event of your death. You decide on a suitable insured sum in keeping with the scale of your financial obligations and the needs of your family. In the event of your death, this sum is paid out to the beneficiaries so that they have immediate access to capital. You have the choice of constant or decreasing capital to be payable on death and can decide whether you wish to insure one or two people on the same policy. You can take out a life insurance plan in pillar 3a (fixed plan) or pillar 3b (flexible plan). With the fixed plan, you enjoy tax savings as the insurance premiums can be deducted from your taxable income up to the legally defined maximum (see “Good to know” at the bottom of the page).

You should consider a life insurance plan if you are looking to provide financial security to your family or your business partner in the event of your death. The bigger the financial hole that you would leave behind, the more important it is to provide security for the bereaved.

Insurance against incapacity to work is a type of risk insurance which secures your income if you were incapacitated and unable to work. You pay a regular premium and receive a pension in the event of a claim. You define the extent of your insured benefits when taking out the policy. You can take out an insurance against incapacity to work plan in pillar 3a (fixed plan) or pillar 3b (flexible plan). With the fixed plan, you enjoy tax savings as the insurance premiums can be deducted from your taxable income up to the legally defined maximum (see “Good to know” at the bottom of the page).

You should consider insurance against incapacity to work if you are looking to cover yourself and your loved ones for the event of an incapacity to work and the usual benefits would not be sufficient to meet your financial obligations. The bigger the financial hole that would be left by the loss of your income, the more important it is to take out insurance. The pension that is paid out serves to offset the loss of your salary.