VORSICHT 😳 Diese 10 Versicherungen sind GELDVERSCHWENDUNG !

Summary

In this video, Simon, the finance expert, reveals 10 types of insurance policies that most people can do without. These policies, including debt insurance, hospital daily allowance insurance, and capital-forming life insurance, are often overpriced and offer limited or unnecessary coverage. Simon offers alternatives such as risk life insurance, flexible savings plans, and investment options that provide better value. The video encourages viewers to evaluate their insurance needs carefully and avoid wasting money on policies that don't deliver. It’s a practical guide to smarter financial choices, tailored for the average consumer.

Takeaways

• 😀 Rest debt insurance might seem useful, but it's often overpriced with many limitations and exclusions, making it less effective than alternatives like risk life insurance or disability insurance.
• 😀 Hospital daily allowance insurance covers additional costs like meals or TV rental, but it's often unnecessary since these costs aren't typically critical and the insurance benefits are limited.
• 😀 Capital-forming insurance products like life insurance or private pension plans often have poor returns and high fees, making them unsuitable for long-term wealth-building or retirement planning.
• 😀 Electronics insurance for devices like phones or household appliances often only covers the depreciated value of the device, leaving you with significant out-of-pocket expenses. It's better to self-insure for these items.
• 😀 Funeral insurance can seem appealing to ease financial burdens for your family, but in practice, it often pays out less than what you've contributed, with low returns. Saving money independently is a more effective alternative.
• 😀 Educational insurance policies for children's studies are often costly and inflexible, with poor returns. Instead, saving or investing the money yourself offers greater flexibility and higher potential returns.
• 😀 Accident insurance with premium refund features often combines a savings plan and coverage, but the returns are typically low, and the accident coverage is inadequate. A separate accident insurance policy is more effective.
• 😀 Small insurance policies like for glasses, tickets, or sports equipment often provide minimal coverage with high premiums, making them unnecessary in most cases. These items are often already covered under other insurance policies.
• 😀 Passenger accident insurance is redundant if you already have car insurance, which covers the injuries of passengers in the event of an accident. A standalone accident insurance policy is more comprehensive and usually more affordable.
• 😀 Travel luggage insurance frequently fails to provide adequate coverage, especially for lost items, and often has high evidence requirements. Your household insurance may already cover lost luggage during travel, making the extra policy unnecessary.

Q & A

Why are certain types of insurance considered a waste of money in the video?

The video highlights that many common types of insurance provide limited or inefficient coverage, often with high premiums and poor returns. Some policies, like the Restschuldversicherung or capital-forming insurance, may seem useful at first but are usually not cost-effective or transparent in their payout structures.

What is the main issue with Restschuldversicherung (loan repayment insurance)?

Restschuldversicherung is often criticized for having high premiums compared to the loan amount, and for being full of exclusions and long waiting times. Many people purchase it blindly when taking out a loan, but it’s often not as helpful as it seems in practice.

Why is a Krankenhaus-Tagegeldversicherung (hospital daily allowance insurance) often unnecessary?

This type of insurance is generally unnecessary because the extra expenses it covers, like food or TV rentals in the hospital, are not typically significant enough to justify the cost. Moreover, the coverage is limited, and most people can afford these minor costs without insurance.

What is wrong with capital-forming life insurance policies?

Capital-forming life insurance policies are criticized for their lack of transparency in how the money is invested and how returns are calculated. The high fees associated with them often lead to lower returns compared to other investment options like mutual funds or ETFs.

When is an electronics insurance policy worth considering?

Electronics insurance may be worth it in specific cases, such as for someone starting a business who relies heavily on a piece of expensive equipment, like a laptop. However, for most people, these policies are not cost-effective and often don’t cover damages like wear and tear.

What are the disadvantages of a Sterbegeldversicherung (funeral insurance)?

The main problem with funeral insurance is that it often pays out less than what has been paid into it. Additionally, the premiums can be quite high, and the return on investment is low. A better alternative could be investing the money yourself in a savings plan or flexible investments.

Why are Ausbildungsversicherungen (education insurance policies) considered poor investments?

Education insurance policies are often based on capital-forming life insurance, which is not a good choice for wealth building. These policies are expensive, inflexible, and typically offer low returns, making it better to invest the money yourself in a more flexible and transparent manner.

What makes accident insurance policies with premium refund so problematic?

Accident insurance with premium refund combines accident coverage with a savings plan, but it often leads to low returns because part of the premium goes towards the savings, which is poorly invested. A standalone accident insurance policy is typically cheaper and more effective.

Are small insurance policies like for glasses or event tickets worth the cost?

Small insurance policies for items like glasses or event tickets often don’t provide enough coverage to justify the high premiums. In many cases, such items are already covered under other policies, like home insurance, or the potential loss is not financially significant enough to warrant extra insurance.

How does a regular car insurance policy cover the financial consequences of an accident involving passengers?

Your regular car insurance, specifically your liability insurance, already covers the financial consequences of injuries caused to passengers during an accident, whether they are in your car or not. A separate insurances for passengers is usually redundant, as the existing coverage is typically sufficient.