Ensuring life standard with lifelong benefits
The statutory pension insurance leaves a gap in income that endangers the usual standard of living. Therefore, additional pension scheme is absolutely necessary and many people are looking for solutions. One of these is private pension insurance, which can be used as a product both in state-supported retirement provision, within occupational pension schemes or as a basic pension.

The biggest advantage of a private pension insurance is lifetime pension payment. The insured person receives an additional pension until his death, no matter how long he lives. This greatly increases the financial predictability of the own pension phase and can close income gaps.

Deferred or Sofortrente
In the case of private pension insurance, contributions are regularly paid during the savings phase in order to receive a pension from the accumulated property later on (deferred pension). The products are very flexible and usually allow interim withdrawing, contribution adjustments and breaks and, at the beginning of retirement, even freedom of choice, whether one wants to receive capital in one fell swoop or even as a lifelong additional pension. In the case of capital suffrage, the tax effects should be observed in advance.

However, private pension insurance can also start immediately. Useful above all for people who are about to retire and want to convert a higher one-off amount into such an immediate pension. The capital is then immediately retired and the insured person will receive an agreed life-long pension.

Facts about private pension insurance

• Capital selecting right to begin pensions: lifelong pension or one-time payment

• High flexibility through interim withdra-azures, additional payments or contribution adjustments

• In case of death during pension guarantee period, survivors receive pensions

• With lifelong pensions, only income shares will be taxed

• Additional modules compatible (e.g. for care and BU care)

Investment cores decisive
Depending on how the contributions are invested during the savings phase, the assets at the beginning of pensions are different. In the case of the "classic variant", the contributions and a later minimum pension are guaranteed at the beginning of the contract. With “classicalism”, therefore, safety comes first, which, however, reduces the chances of a higher return.

The contributions can also be invested more promisingly (so that with less or without a guarantee) by making the contributions to an investment fund or. ETF flow. The opportunities are paramount here. Fund-linked pension insurance is therefore particularly suitable if a longer savings phase is available and thus economic risks can be compensated for by the means. Most providers also offer variants that combine opportunity and security.

Private pension insurance is one of the most flexible solutions within retirement provision. Individual advice can discuss the savings targets precisely and find the best solution depending on their own risk type, duration of the saving phase and the personal income situation.