Contribution Exemption
Retirement is away for long periods of time. Because something can quickly get caught in. Health is attached, the profession no longer exert and the savings contributions are invaluable, saving is a fine thing. You pay out more than was paid a little and get on the end of the term, is the objective. There are many opportunities of wealth building: bank savings plans, savings, life insurance, annuities, unit-linked, etc. times classic times. There are more than 90 million contracts to the pension in Germany. However, a problem is: only a part is maintained indeed to the originally agreed time of it, most of the contracts will be made early contributions or even announced.
The reasons for this behavior are manifold, one of them is the missing contribution exemption for the case of a disability (BU). Because every fourth employee must give up his profession before the regular retirement for health reasons, is This risk widespread and almost all involved suffers even retirement. If you were to have care and properly advise, have a private disability insurance – in the sufficient amount! Then, your standard of living is largely secured. This only applies to the least. The most professionals do not have still always this existential protection. The source of income dries up, because they can no longer carry out your profession for health reasons, then it is most steeply downhill. Because the available revenue are so reduced that it is just enough for everyday after the Elimination of labour income, if any.
The required contribution for a necessary retirement is only right no longer to apply. This entails dire consequences. Due to the deferred savings contributions for a pension plan, the capital is missing from retirement to maintain desired standard of living in the age.
Tags: insurance & pension, money