Life insurance is one of the French’s favorite investments. Ideal for building savings or growing capital, it has favorable taxation, allows funds to be withdrawn at any time and offers a good prospect of profitability. There are many offers on the market, so how do you find the best life insurance for 2023? A comparison is in order.
Compare financial results
Life insurance is marketed by various distributors, among which we find, among others, insurance companies, brokers, pension institutions, mutual insurance companies, banks… It is easy to get lost in the midst of this array of options. To make a decision and find the best solution on the market, it is good to evaluate the performance of the contracts available to you.
Experience this comparison to help you find the best life insurance 2023
Using a life insurance comparator makes it possible to analyze offers from market players. The criterion that deserves the most attention is of course the quality of the Eurofund’s returns. Contracts with a good history with Eurofunds (about 2%) and a wide selection in terms of units of account have good ratings.
Thus, Garance Mutuelle with its Garance Épargne contract shows a return on euro funds of 2.75% for 2020 and 2021, when others show values around 1%. On the other hand, it indicates a large 3% on the cost of payments, compared to the attractive 0% of Placement Direct Vie (Swisslife). This is why the other criteria should not be ignored.
Take into account the payment terms and costs associated with the contract
The costs associated with the contract weigh in the balance: membership fees, arbitration fees, movement fees, administration fees… Fees reduced to the maximum result in better profitability.
Payment terms must also be taken into account. Some contracts apply limits on payments by asking the insured to set aside a minimum percentage for billing units, while others show no requirement.
Placing the comparative marker on the initial payment, we see that it can amount to €50, €2,000 or €150,000, with the latter contracts offering additional features. It is therefore necessary to cross the criteria carefully. It should also be kept in mind that there is often a minimum payment amount (whether free or programmed) which varies by offer.
Know your insurance company to assess the strength of the offer
Knowing more about the insurance company can also help you make your choice. The idea is to learn about some key figures, its history, its evolution in the insurance and pension landscape. Is it a solid partner? An experienced actor? Is it based on a trusted group? Does he offer several types of life insurance contracts or a minimum offer? Is its range of supports limited or quite large? In the case of managed management, does he know the markets well enough to manage your investments as well as possible?
Choosing the best life insurance means first and foremost defining your wealth goal
Remember to define your risk aversion. The units of account, which are more profitable, do not guarantee your capital. It is up to you to determine your investor profile, conservative or dynamic, to choose the investment instruments that suit you best and orient your choice according to the contract that will be able to present them to you.
In reality, the best life insurance will be the one that is adapted to your needs, it will depend on your long-term strategy, on the goal you want to achieve. Preparing for retirement, anticipating the financing of a project close to your heart or diversifying your investments do not require the same type of contract. It is therefore according to your priorities that you will select the comparison criteria that are important to you and that you will then distinguish the most interesting offer. It will certainly be different from your neighbor’s, your sister’s or your best friend’s.
There are online tools where you can enter your own criteria and get offers tailored to your expectations. It is possible to find a contract that suits you. Among the 2023 life insurance policies, there is sure to be one that fits your profile.