Savings accounts meet the world of insurance. With traditional savings insurance there is a fixed income attached, but this is typically lower than the income on investment insurance.
After you sign your insurance contract, there are two possible outcomes:
- An insurance event (death) has occurred, and your beneficiaries will get the payment specified under contract
- An insurance case has not occurred, and you get your savings back
Therefore, you can be saving for something important for 10 years, and throughout that period you can feel secure in the knowledge you have life insurance. You will be able to choose the size of instalments and the final payment. The contracts can last 5 to 20 or more years. It can be less than 5, of course, but in that case it will have a lower yield and higher tariffs (instalments).