"Life insurance" is an umbrella term, and very different products live behind it. Here are the forms and the riders – with no specific premiums and no return figures, because those come out of a quote request, from the competing offers of several insurers.
The classic form of family protection: a defined sum assured that the insurer pays to the beneficiary if the insured person dies. There is no savings element – the premium goes entirely towards the cover.
Term life insurance for a loan: the cover follows the outstanding debt, so that even in the worst case the loan does not stay with the family. There are two routes – and they are not the same.
Protection and saving in one policy: a maturity benefit falls due at the end of the term, and the sum assured in the event of death. The product pays for that convenience on the cost side.
Life insurance linked to investment units: the savings work in the asset funds you choose, and a risk (death) element runs alongside them. The investment risk is not carried by the insurer: the client bears the investment risk.
The focus of elet.biz is the term and the credit life form – we write about endowment and unit-linked products for contrast, to support your decision. For retirement saving, nyugdij.biz is the right address; for employer group schemes, csoportos.biz.
| Aspect | Pure term | Credit life | Endowment | Unit-linked |
|---|---|---|---|---|
| What is it primarily for? | Protecting the family's income | Covering the outstanding loan | Protection + saving in one | Investment + a risk element |
| Is there a savings element? | None – that is what makes the cover inexpensive | Typically none | Yes, according to the policy terms | Yes, in asset funds |
| Who bears the investment risk? | – (no investment) | – (no investment) | Depends on the product, according to the policy terms | The client bears the investment risk |
| Who is it more suited to? | Anyone with dependants or financial obligations | Anyone with a mortgage or a larger loan | Someone who wants it in one place – knowing the price of that | Someone who consciously takes on the investment risk |
| Upkeep required | A quarter of an hour a year | A quarter of an hour a year, with the loan balance | An annual review | An annual look at the allocation is advisable |
The comparison is for information only; how a product actually works is set out in the insurers' policy terms in force at the time. The two key questions for choosing are the family's situation and the goal – the 2-minute quiz helps with that.
The basis of term life insurance is death cover – the riders are there so that the protection also extends to situations where the income is lost in some other way.
Pays an additional amount if the death results from an accident – it supplements the basic cover, it does not replace it.
Read it →Pays on a defined degree of health impairment – when the income is lost but the outgoings remain.
Read it →Pays during the insured person's lifetime on defined diagnoses – with strict definitions that need to be understood before signing.
Read it →Provides supplementary income for a longer period of sick leave – its rules differ a great deal from product to product.
Read it →If the policyholder cannot pay for a defined reason, the insurer takes the premium over – the protection does not break off.
Read it →A decision map of the forms and the riders – which combination serves the family in which situation.
Read it →In term life insurance the two basic numbers are the sum assured (the amount the insurer pays when the insured event occurs) and the premium (what it costs monthly or annually). The premium depends on age, state of health, the amount, the term and the riders – which is why we do not publish "general" premiums: the principles of sizing the cover.
Most products have waiting periods and exclusions – typically for the first period after signing, or for defined events. These are not small-print traps but part of the product, and it is worth seeing them clearly before you sign: exclusions and waiting periods, honestly.
Raising the premium and the sum assured on the policy anniversary is the tool for keeping pace with values: alongside inflation, this is the only way the real value of the protection is kept. You do not have to accept it automatically – points to weigh: indexation and inflation.
For endowment and unit-linked products the TKM (the Hungarian total cost indicator) shows the annual cost burden of the savings using a uniform methodology – it is made for comparing products over the same term. We do not publish specific TKM values here: the offer table shows the ranges. In a unit-linked policy the policyholder bears the investment risk, so the result is not fixed in advance. Pure term life insurance has no TKM figure – there the relationship between the premium and the sum assured is what speaks.
Free, with no obligation – by the end you will see your options and the next step clearly.