The demand for customised (old-age) provisions is growing every day. Ideally, the capital investment required to achieve one’s personal provisions goal should be accessible over a long period of time. Still, any long-term wealth-building strategy can be impacted by unforeseen changes. With “ERGO fürs Leben”, ERGO Austria is launching a new generation of life insurance that optimally meets the requirements associated with a long-term savings process. ERGO fürs Leben is a combination of classic and unit-linked life insurance that can be ideally adapted to the customer’s personal situation if necessary. The combination of security and income opportunities, as well as numerous additional features and flexible premium payment plans, ensures that every customer has the security of knowing that they can adjust their ERGO fürs Leben policy in line with changed circumstances.
In demand: Flexible provision concepts
A survey commissioned by ERGO in 2015 revealed that insurance customers would like to see innovative concepts for provisions that allow their capital to be invested in a flexible manner, but which nevertheless also offer the security of a classic life insurance policy. “Everybody knows that plans can change quickly in life – and thus the best way to achieve your personal provisions goals can change as well”, says Josef Adelmann, Chairman of the Board of Management of ERGO Versicherung AG. “ERGO fürs Leben offers our customers maximum flexibility by providing them with unrestricted monthly opportunities to shift back and forth between the two worlds – the classic and the unit-linked worlds.”
Classic or unit-linked investment – or a personalised mix in one product
With ERGO fürs Leben, the question of whether to choose a classic life insurance policy or a unit-linked investment plan is no longer an issue. That’s because ERGO fürs Leben allows customers to actively shape their provisions concept and quickly adjust it if financial market conditions, personal preferences (i.e. greater security with an interest-based product or greater earnings potential via the capital market), or one’s personal situation should change. Customers can decide for themselves which percentage of their monthly premium should be invested in the classic and unit-linked components of their policy.
Additional services to ensure you achieve your provisions goals
A long-term life insurance policy should also help policyholders when things don’t go as planned. In order to ensure that provisions goals can be achieved even under unfavourable circumstances, ERGO fürs Leben’s flexible investment model is supplemented by a range of fixed and freely selectable additional features.
For example, if policyholders should fall ill or suffer an accident, legislation ensures they will continue to be paid their wages or salary for 10 weeks. However, should they be unable to work for longer than that, ERGO will step in and take over the premium payments from the 11th week of full disability until the policyholder can return to work – or, in the most unfavourable case, until the end of the duration of the policy. Heart attacks and strokes occur often and are frequently unexpected. Should such an event occur, ERGO will also issue a one-time support payment of € 3,000. These are in fact fixed components of ERGO fürs Leben.
ERGO fürs Leben policyholders who lose their job are also taken care of, as ERGO fürs Leben can be supplemented by an optional component that allows for a suspension of premium payments in the event of unemployment. The insured person can also provide his or her loved ones with financial security through an additional risk insurance policy for a low premium, just in case the worst should happen.
Flexible premium payment plans for every situation
ERGO fürs Leben is quite flexible in terms of premium payments as well. Regardless of how the premium is to be invested, customers can pay either monthly (minimum of € 35 per month), quarterly, half-yearly or annually. Single premiums of at least € 3,500 are also possible. Moreover, if things are going well financially, customers can choose to make additional one-time payments or raise their annual premium.
Of course, financial fortunes can also turn in the other direction, which is why policyholders can suspend payments for up to 24 months in the event of occurrences such as unpaid leave, civil or military service, job loss, divorce, the death of a close relative or the need to care for the same. The agreed-upon life insurance payout for ERGO fürs Leben remains the same in such cases, despite the suspension of premium payments.
ERGO Austria International AG
Businesspark Marximum / Objekt 3
Tel. +43 1 27444-3703
ERGO Versicherung in Austria is a subsidiary of ERGO Austria International AG. Within the scope of strategic cooperation agreements with partners UniCredit/Bank Austria, the Volksbanken Association as well as via field service, brokers, agencies and direct sales channels, a tailored range of life insurance, accident insurance and property & casualty insurance products are offered to private and business customers. ERGO Austria International AG in Vienna is a part of ERGO Group AG, located in Düsseldorf, Germany.
More information is available at www.ergo-versicherung.at and www.ergo-austria.com
Please note: The descriptions and information above are for press release purposes only. They in no way constitute a recommendation or any other type of insurance advice, nor do they amount to a request that you purchase an insurance policy.
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of ERGO Austria International AG. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation, and performance of our Company. The Company assumes no obligation to update these forward-looking statements or to conform them to future events or developments.