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Both my wife and I are SafeSide’s clients. This is our take on why we chose to have our pure life insurance with one of Switzerland's most prominent Insurtech startups.
These are the three main reasons which mattered to both of us when selecting our life insurance coverage:
Protection over a long time-horizon
Competitive pricing and flexibility
I would like to explore each and every one of these reasons in more detail. Let’s start with the long time-horizon. Both my wife and I were looking for coverage that would protect us both way into our 50s and 60s. You never know what may happen in between now and then. We recently became parents and look forward to welcoming more little people in the near future. We want to make sure that both of us are protected as we grow older together; that our children will be able to sustain the same quality of life should something happen to either one or both of us. Recognizing that random things, accidents or illnesses may happen is key. It is important for us to have protection against such random events. Another important aspect is to have life insurance coverage till we are 60 and then, extend it even further. SafeSide allows us to do exactly this, therefore our satisfaction level is very high.
The next important factor is pricing and flexibility. SafeSide’s CHF500,000 protection plan comes to less than CHF1 per day for us. A small price to pay for being on the safe side of life. Another bit which adds certainty and security to our choice is the ability to pick and choose your preferred insurer. Our chosen protection is underwritten by Baloise - a prominent Swiss insurer. There are also other insurers on the SafeSide platform, so it’s worth checking it out regularly. On the flexibility topic, one may choose a different duration of the plan, for me it was anywhere between 5 and 45 years, while the total protection amount is also something that remains at one’s discretion. SafeSide offers the option of more than CHF 500’000 in coverage, but this is not yet offered fully digital. Both of these aspects were important decision factors for my wife and me. On a personal level, I may be looking to revise my plan in the near future, seeking an even longer protection time-horizon: you cannot be too prudent enough in your preparation, in particular in these uncertain times.
The third and final aspect, which both of us found equally important, is SafeSide’s digital first approach. We got our quotes and a digital copy of our policy in less than three minutes and that was it - from that moment on we were covered. To contrast, other life insurance offerings seem to be convoluted, messy and not user friendly at all. I never truly understood why it has to be this way. My wife and I are digital natives. We prefer straightforward digital experiences that save time. Going through SafeSide’s digital quote process turned out to be exactly that - elegant, straightforward and fast. We got our quotes in just a few clicks. I remember finalizing the questionnaire and thinking to myself - is this it? If you haven’t tried it yet, I suggest you do. It’s a breath of fresh air compared to other insurance companies' “digital” experiences.
With that said, let me summarize the three things we kept in mind while buying life insurance. For us it was the importance of being protected over a long period of time. Another thing of great importance is pricing and flexibility. The pure life insurance product should be simple and competitive, while allowing enough flexibility to easily adjust the insurance sum and term with no additional fees. And the last bit, as digital natives, both my wife and I appreciate straightforward user experiences that get the job done. To anyone who wants to stay on the safe side of life in the digital era - try SafeSide’s pure life product. It’s an easy-to-use experience which will protect your beloved ones for years to come.