How subscribe to life insurance?

Life insurance is sold by insurance companies, banks, mutual, on the Internet and even in the financial areas of stores. There are hundreds of different products.
At the opening of a contract, you make a first payment of money and the insurer issuing you legal documents, such as the General conditions or information leaflet, as well as subscription bulletin.
In general, contracts leave the freedom to invest when you want, but we must respect a minimum amount that varies from a few dozen to several thousand euros.

A few tips...

·       There are contracts requiring the insured to make regular payments, typically every month. These products are deprecated, because they are almost always accompanied by penalties in the event of interruption of the payment of contributions.
It is better to choose a contract "to free payments', you will feed to your own liking. Including by regular payments directly debited from your bank account, if you wish to save each month. You can change or stop these samples when you want to, without any consequences.

·       Some life insurance combine both a protection in the event of death and a guarantee in the event of life. They are usually punitive. Better subscribe two distinct products: one for saving, one for death insurance to protect your family if your wealth is not sufficient in the case of premature death.
In all cases, you can hold as many contracts as you want: the detention of life insurance is bounded neither in number nor in amount.

Designate beneficiaries

At the opening of a contract, the intermediary invites you to designate the beneficiary in case of life (you in general) and to indicate recipients who would receive capital if you were to disappear prematurely.

The designation of these beneficiaries in case of death is free: you can indicate the person of your choice, without any limitation. This designation can be changed as often as necessary. Similarly you can stipulate a non-egalitarian between beneficiaries distribution if desired.

It is preferable to designate several rows of beneficiaries in case of death. Thus, if the first on the list are deceased, are returning beneficiaries indicated in the second row, and so on. All contracts provide a beneficiary clause type suitable for the majority of the subscribers, which provides that the funds are paid in case of death "to the spouse, failing children born or unborn, alive or represented, failing to the heirs.

If these provisions are not suitable for you, change them to reflect your priorities.