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Value for money analysis of the characteristics of the term Conservateur Protection Famille (CPF) death insurance

Family Protection Registrar (CPF) is the individual pension offer of curator integrated in the approach of its general agents for their enable them to exercise their duty to advise in all its dimensions :

  • that preparation for retirement,
  • that wealth planning,
  • that protection of the insured and his relatives.

With Registrar Family Protection, the Registrar’s general agents have an innovative solution in several aspects to allow their customers to protect “their” in the event of total and irreversible loss of autonomy (PTIA) or death, accidental or otherwise.

Conservateur Family Protection (CPF) is a PTIA death insurance policy taken out individuallythe benefits paid to the next of kin of the insured in the event of injury are in addition to those they may receive elsewhere:

  • either under collective welfare coverage of which the insured benefits from his employer as an employee,
  • either under the guarantees that the insured may have taken outif applicable, as TNS through a Madelin pension contract.

Specifically, the subscription to Conservative Family Protection integrated a capital payment guarantee :

  • in case of death “all causes” to the beneficiary or beneficiaries named by the member in his beneficiary clause, knowing that he is free to change it over time as he wishes,
  • in the event of entering a situation of total and irreversible loss of autonomy (PTIA) to the insured himself, whether it is after an accident or as a result of an illness.

The death guarantee is enriched with two covers for the benefit of the member and his dependents:

  • Temporary death cover until the entry into force of the contract:
    • Family protection conservatives provide capital payment desired by the saver in case of accidental death between :
      • the moment the subscriber signed his application for insurance,
      • and the one where his contract fully took effect after taking into account the results of the medical (or even economic) selection.
    • This temporary coverage However limited to €150,000.
  • Payment of an advance on the capital owed:
    • In a troubleshooting for relatives of insured personsthe contract allows for payment to the intended recipient(s). within 48 hours of an advance payment of €10,000 on the subscribed death capital, by the knowledge of death.

Two units is offered to the subscriber about his death benefit :

  • that possibility to request an annual index adjustment of this capital in relation to the development of the annual social security ceiling (PASS),
  • that possibility to request an increase of the guaranteed capital up to €1,000,000 subject to compliance with several criteria, including:
    • -one signing the contract for less than 3 years (to avoid the insurance company having to guarantee a member whose health condition has deteriorated since a previous membership)
    • -one increase of the guaranteed capital remaining in the same doctor selection scheme (to avoid an “unexpected effect”)
    • -one certificate from the insured that his state of health has not deteriorated since signing his contract (eg a member who would see a tumor detected and would like to increase his guarantee).

Optional In addition to the basic guarantees, Conservateur Protection Famille also provides protection against the following risks:

  • accidental death,
    • with guaranteed capital doubling guarantee,
  • the death of the spouse within a period of less than 12 months after the death of the member,
    • with “double effect” guarantee,
  • permanent and total disability
    • with guarantee for payment of an IPT capital.

The risk of death can be assumed up to age 75, but with capital limited to €1,500,000 from that age. The warranty expires on the 85thth member’s birthday.

The main benefits of the Family Protection Conservator (CPF)

  • Strong price segmentation allows certain profiles to take advantage of contribution lower by – 20% to – 60% than the market according to the Good Value for Money market benchmark.
  • Option to cover up to €10,000,000 of capital in case of death or PTIA.
  • Option for a member practicing certain risky sports to cover his risk by accepting an appropriate increase in its rate.
  • Option for the member to increase the guaranteed capital during the first three years of the contract termunder certain conditions and within certain limits.
  • Choice of options give a member the opportunity to adapt the guarantees taken out and the services provided to his personal and family situation.

The main disadvantages of the Conservateur Protection Famille (CPF)

  • Higher rates than market practice for profiles that are considered more vulnerable by The Curator, realizing that it is the logical counterpart to the interesting pricing policy of many profiles.
  • Relatively strict medical selection procedurebeing aware that this is an absolute condition for a life insurance company to be able to offer competitive prices.
  • No compensation solution for partial disability situations.

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