The market for life insurance, auto insurance, residential and retirement plans is still very recent, especially in terms of popularity. After decades of recession, the country wakes up to the need of hiring some services that were once considered superfluous if the life insurance and private pension. In this new dawn of solid economy, many people still do not know for sure the differences between the individual life insurance and private pension. Let some distinctions.
The pension plan’s main objective is to maintain their standard of living from retirement. Your monthly contributions form a fund, duly corrected, which can be removed for your enjoyment, on a date specified in the contract.
Since life insurance is primary goal to ensure the protection and financial support to the family in case of death of the primary insured. The insured states in signing clauses, the beneficiaries who will receive the compensation in case of accidental death, whichever is worth noting that permanent disability also ensures receipt of the pre-stipulated values.
Who is torn between hiring one of these modalities, should know, first of all, what are intentions. If the goal is to invest, life insurance can be more profitable, depending on the rates and corrections applied. However, neither one nor the other aims to multiply money than was invested. Both applications are defensive, with the difference that life insurance is more geared to family protection, while the pension plan, provides financial support to supplement the income of retired (given that the amounts paid by the government are often meager and insufficient for maintaining the quality of life of the worker.
Thus, before signing individual insurance, it pays to consult an expert and explain what their real needs and expectations. It is from them that will be mounted a product that fits your needs and either a life insurance, pension plan or a financial policy.