Term life insurance

This secures the existence of the family. It is used as family protection in the form of provision for surviving dependants in order to cover the family's maintenance needs in the event of death. As loan protection, e.g. for real estate financing, in which the bank is entered as beneficiary in the insurance policy with regard to the mortgage.
Term life insurance is personal insurance because the insured risk lies in the person. The agreed insurance benefit is to cover the economic risks arising from the uncertainty of the insured person's life. This benefit, which is provided as a cash benefit, is paid out to one or more beneficiaries in the event of an insured event.
In addition to the payment of a fixed sum in the event of death, funeral costs, repatriation of the mortal remains to the home country as well as capital payment in the event of a serious illness can also be agreed as insurance benefits.