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Financial security for your loved ones — protection for the worst case and building wealth at the same time.
Life insurance is a versatile product that protects your family financially in the event of death and can also serve as a form of saving and investing. In Austria a distinction is made between pure term life insurance (Ablebensversicherung), classic endowment insurance (Er- und Ablebensversicherung) and unit-linked life insurance. There is a suitable solution for every situation and goal.
Life insurance provides security in uncertain times. The most important reasons:
Pure risk cover: in the event of death your loved ones receive the agreed sum insured.
Combines death cover with building capital — paid out on death or at the end of the term.
Premiums are invested in funds — with the chance of higher returns at a calculated risk.
Special cover for outstanding loans — in the event of death the insurer repays the remaining debt.
A good guide: the sum should repay outstanding loans and cover your family’s running costs for several years — minus what is already there.
| Item | Amount |
|---|---|
| Remaining mortgage | €150,000 |
| Family’s running fixed costs: €2,000 × 12 months × 3 years | €72,000 |
| minus existing savings | − €20,000 |
| Sensible sum insured | €202,000 |
With an annual family income of €50,000, this is roughly four times that amount — in line with the rule above. How many years you should cover depends, for example, on the age of your children and your partner’s income. For loans, a decreasing sum insured that falls with the debt and lowers the premium often works well.
Simplified example calculation with sample values — not a substitute for an individual offer.
Life insurance makes particular sense for everyone who is responsible for others:
These details determine the premium: age, health, smoking, occupation, sum insured and term. Having them to hand means you get an offer that can really be compared more quickly.
Why accurate information matters: an offer is only as good as the information it is based on. Anyone who omits or misstates chronic illnesses, ongoing treatment or medication, you risk the insurer withdrawing from the contract or refusing to pay in the event of a claim (§§ 16 ff. VersVG). That is why we prefer to calculate on the basis of complete information — the offer may then not be the cheapest, but you can rely on it.
Incorrect information can lead to the loss of insurance cover when a claim is made. That is why it is always worth answering the health questions carefully and honestly — we will gladly help you.
Yes. Contracts with regular premiums can in principle be cancelled at any time with effect from the end of the current insurance period (§ 165 VersVG). Depending on the type of contract and its duration, however, this may involve financial losses — it pays to get advice first.
Yes, the beneficiary designation can usually be changed in writing at any time while the contract is in force.
Many tariffs offer a premium holiday or deferral so that the contract does not lapse automatically. Please contact us early if your financial situation changes.
In most cases, yes — but the exact tax treatment depends on how the contract is structured. We will gladly discuss this with you in detail.
Content reviewed by: Agnieszka Valenta, insurance broker · As of October 2026
Securing a loan or your family: together we calculate the sum insured your loved ones really need.
Personal advice in Breitenwaida – for clients from the Hollabrunn district, the whole Weinviertel region, as well as Vienna and Burgenland. We advise in English, German, Polish, Serbian and Bosnian.
