5 facts about insurance policies that are simple and easy to understand

Here are 5 facts about insurance policies that are simple and easy to understand

What is an insurance agency? If you're asking yourself this question, then you've come to the right place. This international word is simply another term for the insurance certificate you receive when you buy insurance. Here we show you in 5 facts why the authorities are so important and what information they should contain.

What you need to know:

An insurance plan is a file that documents your contract with the insurance company for the insurance you have purchased.

You must treat this insurance plan well. Ideally as initial equipment, because you need it if you want money from the insurance company in the event of damage.

The authorities contain all the information such as the names of those involved, the benefits, the payments to be made and an insurance number.

1) This is an insurance plan

"An Insurance Agency: What is it?" No problem, so not complicated at all. The word authorities originally comes from the Greek. "Apodeixis" means something like proof. An insurance claim is nowadays also an insurance certificate. This is absolutely nothing more than an invoice for the insurance contract that you take out with an insurance company. In Germany, an insurance plan document is issued for each insurance carrier. The following image shows you an instance of the first web page of an insurance plan. It was issued in 2016 for impairment insurance.

Insurance certificate for disability insurance

An insurance agency is really important. It has the meaning of a file. And a credential is a "credential accrediting or verifying something, a record having legal force" - inning as described in the thesaurus. And without that document, without the insurance plan, you run the risk of not getting a claim from the insurance company. There is a regulation for this in the German Civil Code (BGB).

In our situation, “borrower” means the insurance company. It only has to be paid if the authority has the insurance certificate. There are instances of various other important documents that you may have looked at. These consist of a birth certificate, a marriage certificate and a will.

2) This should be included in the insurance plan

A file with the authorities is made on all types of insurance, be it depreciation insurance, household insurance or all types of life insurance. On January 1, 2008, the new Insurance Contract Act (VVG) came into force. Innings after the Basic Association of the German Insurance Industry (GDV), customer protection has improved significantly as a result. This consists, for example, of buying the "plan model" that will be used until then. Those who later wanted to insure themselves simply got the insurance problems together with the authorities when they approved the contract. With the new legislation, the insurance problems are out of hand before the final conclusion of the contract. In addition, the insurers received additional information and instructions on the obligations under the VVG. The candidate must also be sent documents with precise information about the insurance company and a clear summary of the solution qualities of the respective insurance company.

The provisions of the Insurance Contract Act govern the relationship between you and the insurance provider at Section 216. It also covers the elements of the insurance plan and what they imply. Typical aspects of an authority force are:

Beginning and end of the insurance period

Names of those involved and their addresses

amount guaranteed

Benefits, benefit exclusions

Honors and possible degrees of honor

Additional (additional) rules

Gross Negligence Rules

insurance number

Hallmarks of both having celebrations

3) Unique features of the insurance plan

Every proof of power of attorney, consisting of every insurance certificate, contains information that is particularly important to you. One of these factors is the right of withdrawal, which is discussed at every police headquarters. You can then revoke your contract declaration within a certain period of time without giving reasons. With most insurance companies, this period is at least 2 weeks (§ 8 VVG), with pension insurance it is always only 30 days (§ 152 VVG). However, it is important that you inform us of your revocation in writing.

Your insurance contract also consists of the basic insurance problems (AVB). They represent the general terms and conditions (GTC) of various other companies and are structured in such a way that they cover the greatest possible variety of agreements aSurance companies to receive the insurance plan in the mail. For instance, you can use for Getsurance Job impairment insurance totally online - and you'll also receive your plan in electronic form.

4) Termination of an Insurance Plan

Of course you can also terminate your insurance plan. You should definitely send this notice of discontinuation in writing. Your transcribed trademark is also important. To earn certain that the letter with the notice of discontinuation actually gets to the insurance company, it's best to use registered mail with acknowledgment of invoice - this will verify that the letter is sent out which it is received by the recipient. And you need to stay with the current notice durations. The notice durations that put on you depend upon the insurance you have gotten. For instance, if you're considering terminating your impairment insurance, the notice duration is in between one and 3 months, depending upon the insurance plan. In most situations, the agreements can be ended at completion of the present payment duration, i.e. usually after one year. You also have a unique right of discontinuation if the insurance provider increases the costs but not its benefits. However, you should think carefully about terminating impairment insurance (BU), because the cash you have paid in up to that point will after that be gone.

5) Insurance Plan Tips

If you ever shed your insurance plan, for instance if you simply can't find it after you've removed, that's not a problem. You can simply put on your insurance company for a brand new one. Generally, a brand-new variation should be sent out to you quickly and easily. Most insurance companies offer example letters that you could use to send a statement of loss for your insurance certification - for your plan. We have ready the appropriate phrasing for a loss record for you. Our suggestion is:

Instance of the phrasing of a notification of loss:

The insurance certification is shed. I expressly verify that I have neither designated nor pledged the rights and claims occurring from the insurance and have not turned over the insurance plan to any 3rd party. I validate the loss of the insurance plan as complies with: I shed it. If the insurance certification is found again, I undertake to return it to the insurance company instantly.

It's important that you specify the insurance plan with its number and all various other important information. This consists of the kind of insurance, your name and the correct address. You can also find the insurance plan number on the billings and letters from the insurance company.

We have another suggestion for you: Take note of the day on which the insurance cover starts. The definitive factor isn't the day on which you sign the insurance certification, but the day on which the insurance starts, which is expressly specified in the plan.

Frequently Asked Questions

What is the meaning of an insurance plan and what does an insurance plan appear like?

The insurance plan is a composed document that explains the information of the contract in between you and the insurance company. It can be several web pages lengthy. It must include all the important aspects that explain both the benefits of the insurance and your costs to be paid.

I have shed my insurance plan: what to do?

It does not matter if you shed your insurance plan, also if it is an important document. You simply write a letter for your insurance company and can request a brand new insurance plan. They'll help you easily and send out you a brand-new copy. You can also use a recommended template for this Loss Notice, such as the one found in our guide article over.

Can you contrast an insurance plan with others?

Yes, you can, because the benefits of the insurance companies are hidden behind the plans. Stiftung Warentest and its Finanztest publication ready overviews and regularly contrast the costs and offers of the various insurance companies. With a cost contrast you can find the insurance that's especially inexpensive for you.

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