How good is Continentale Rente Invest (RI)?
Continentale Rente Invest is a life insurance product offered by the German insurance company, Continentale Lebensversicherung. This policy provides policyholders with a guaranteed fixed interest rate, as well as the opportunity to invest a portion of their premiums in a variety of financial instruments, such as stocks, bonds, and mutual funds. This allows policyholders to […]
Continentale Rente Invest is a life insurance product offered by the German insurance company, Continentale Lebensversicherung. This policy provides policyholders with a guaranteed fixed interest rate, as well as the opportunity to invest a portion of their premiums in a variety of financial instruments, such as stocks, bonds, and mutual funds. This allows policyholders to potentially earn higher returns on their investments while also receiving guaranteed coverage. The policy also offers flexibility with the ability to adjust the premium payments, and the coverage amount depending on the policyholder’s needs.
Review of Continentale Rente Invest (RI)
Overall
-
Flexibility
-
Cost
-
Transparency
-
Experience in the field
-
Financial stability
Summary
Overall the plan is a good option for anyone that wants to invest for their retirement. It’s best if you continue paying into it throughout the entire contract duration as there are higher fees when stopping the payments. This is also our main criticism about the plan which is good apart from this aspect.
Pros
Good fund selection
Good provider
Strong performance
Flexibility
Cons
Costs could be more transparent*
No app to check the contract balance
* Let us explain:
1) Normally Continentale doesn’t have a charge for assets under management. Any money invested in funds has no yearly management fee. This makes Continentale one of the lower-cost providers (for this aspect). Most providers charge 0,15% – o,35% here. In case you stop payments this increases to 1,08% making it significantly more expensive.
2) The fees on payments are not communicated in the way we would like to see them. The industry standard is giving an exact percentage amount for any payment. Continentale chooses to only disclose an absolute amount for the first year and a yearly decrease in costs as an absolute value again. It is totally unclear how this number changes in case the investment amount is adjusted.
