Module 10: Life Insurance, Funeral Cover and Annuities

In this module you dive into the world of sum-insured policies (sommenverzekeringen, policies that pay out a fixed agreed amount), with life insurance as the most important category. You will get to know the two major financial risks of human life: dying too early and living too long. We then cover the various policies, from term life insurance (overlijdensrisicoverzekering) and funeral insurance (uitvaartverzekering) to the annuity (lijfrente, a private supplementary pension) with which you top up your pension. Finally, you unravel the triangle of policyholder, insured person and beneficiary, and you see how, by arranging a policy cleverly, you avoid unnecessary inheritance tax (erfbelasting).