As it stands today, the economy and pensions we are all afraid to face old age with a pay negligible after a lifetime of hard work and Social Security contributions.
This was invented retirement insurance (also known as retirement plans or savings plans ), which allow from a young age to pay a monthly, quarterly, semiannual or annual basis from which interest initially perceived as a fixed-term investment is involved.
When hired a secure retirement ourselves choose the amount we make each payment and based on the amount contributed and the years that we lack for retirement insurance company calculated how much money will receive the day you retire.
There are two types of final capital in these policies:
- Estimated Capital: The capital that the company believes it will pay at maturity of the policy and which is usually much higher than the capital guaranteed but this not guaranteed, as its name says an estimated capital.
- Capital Guaranteed : they perceive is the capital of the date of expiry of the policy (retirement) and will never be lower because the company has the money deposited in the Bank of Spain and no chance of losing it to fail and disappear but the insurance company .
When hiring a retirement insurance make sure that the bank is behind the company and that is who will invest our money is a good bank because if this is a bank with a great investment potential and will get better interest charge more than what we had can reach the capital guaranteed estimate.
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