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Retirement life insurance

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  • Retirement life insurance

    Hi

    I have this homework were i het to choose a new product that an insurance company may offer.

    I decided that as well as the guarantee education an insurance company could also offer a guarantee retirement community for the elderly.

    The idea is that the person will start to do contributions as soon as he/she is on a legal working age, the sooner they start the cheaper the contribution.

    How will it work financially i.e the rates or amount that a person should give periodically and how would these increase according to the age in which someone decides to take the insurance. I reckon the maximum age in which someone will be able to acquire the insurance should be 40-45, to have enough time to save.

    Hope you can help me
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