There are some things in life that are extremely difficult to plan for. Things like retirement, death, disability, the onset of a critical disease. The reason is simple, consumers are reluctant to face their mortality. Deutsche Bank Financial Planning takes the sting out of the uncomfortable conversations. With this review, we take a deeper look at what the bank has to offer.
A Brief History of Deutsche Bank
In 1870, six bankers decided to form a bank that no longer conformed to the rigid British banking structures. They decided to embark on building international relations immediately and the offices in Bremen, Shanghai, Yokohama, London, and Hamburg were established. During this time, Germany focused its attention on steel, iron, and electrical engineering industries.
The first and second World Wars wreaked havoc with the German economy and the latter placed a dismal outlook on the bank’s reputation. This was due to its involvement in the redistribution of Jewish wealth during WWII. Postwar efforts from the bank hoped to restore the dignity of those who remained, which allowed the bank to regain some of its reputation.
It proved to be successful as the bank once again became the stalwart of the German economy. The financial crisis that rocked the world in 2008 didn’t leave Germany unscathed, as the entire European Union struggled. It took some time for the economies to normalize, and to this day there are still economies teetering on the edge. For the first time since that economic crash, Germany is once again in a position to look forward to growth.
For a full review on Deutsche Bank, read here here.
The Importance of a Good Financial Adviser
Financial advisers play a cardinal role in the successful implementation of a financial plan. This could include life insurances, retirement planning, estate planning, the building of wealth, and more. Apart from providing sound advice, it’s also the role of the financial adviser to keep abreast of the latest market developments.
With the right financial adviser, customers have access to insights regarding the areas of risk in their lives. The plans and structures the adviser recommend will include a detailed analysis. The plan takes into consideration the risk situation of the client, as well as the effect it has on their families. Furthermore, it also takes into consideration affordability to ensure that the plan caters to the customer’s budget.
Those who have a good financial adviser at their side, also have access to information and structures that will allow them to create a legacy.
Finally, a good financial adviser will provide guidance in terms of risk on the investment front when it comes to retirement or wealth creation. A financial adviser who takes care to provide sound advice can help clients reach their retirement goals, build wealth, leave a legacy for the descendants, and more.
Deutsche Bank Financial Planning Product Offerings
It’s vital for customers to plan the various life stages with care, to ensure that they have the necessary risk measures in place. Furthermore, customers can rest assured that they have all their bases covered with risk and income insurance. This product takes customers through the following life stages:
- Students and Trainees
- Career Starters
- Families and Young Parents
Income Protection in the Event of Disability
This option allows customers to plan for the possibility that they may become disabled and can no longer continue with their current profession. Furthermore, customers have access to a proper consultation and receive a recommendation before continuing.
Customers who need to safeguard their income in the event thy become disabled will find this to be a suitable option. Furthermore, this type of cover is adapted to a life situation.
- Customers have the option to increase the pension even during the term.
- Also, the plan includes worldwide insurance coverage.
This is the ideal means to provide for care at levels 2, 3, 4, and 5. Also, there is no waiting period.
- The care center guarantee is within 24 hours.
- Finally, worldwide insurance coverage is included.
Private Health Insurance
Customers have access to top protection with manageable contributions. Furthermore, the medical care is tailored the customer’s needs. Finally, customers have a variety of packages to choose from.
With this option, customers enjoy a customizable contribution level. Furthermore, the plan offers freely selectable insurance amounts and terms. Finally, this type of protection costs as little as 10 EUR per month.
This insurance provides cover for customer’s individual assets. Furthermore, the type of cover a customer has depends on their living conditions.
Private Retirement Provision
Customers who wish to plan for their retirement, need not look any further as this product is designed to help them reach their goals. Furthermore, customers have access to a comprehensive analysis of their situation and personal advice.
- The plan includes a 3-layer approach to ensure that the retirement provisions are sufficient.
- Basic Provision
- Supplementary Provisions
- Private Security
This option allows customers to manage their funds themselves, as they save up for additional funds at retirement. Furthermore, customers also have the choice to work with one of the four managed depot models.
- Customers can select funds or managed portfolio models.
- The product has a flexible contract design.
- Furthermore, taxable beneficiary building is possible.
- Finally, customers can choose various payment options for start of pensions.
This option allows protection and benefits under one umbrella. With this option, customers are able to protect their capital while participating in the capital markets.
- Customers have access to a rule-based investment model with daily asset review.
- Furthermore, there is partial capital protection amounting to 80%. This is of the contributions towards the end of the savings period.
- Also, the product offers a flexible contract design.
- Customers also have access to taxable beneficiary building.
- Finally, the plan offers various payment options for start of pensions.
5 Stars AnsparRente
With this option, customers have the potential of earning more for their future. Furthermore, it offers a 0.9%pa guarantee rate over the contract period.
- Customers may experience the possibility of surprises.
- Also, they have access to various payment options for the start of the pension.
- Finally, the risk distribution according to the contributions includes up to 5 selected insurers.
5 Stars InstantRente
Customers will make a single deposit with this option and have peace of mind that they will have access to lifelong guaranteed pension.
- The immediate commencing of installments is available with this plan.
- Furthermore, it provides customers with a guaranteed interest rate.
- Finally, there is a high security by dividing it to 5 insurance companies.
This account is opened with children’s future in mind. Furthermore, there are two available options for customers. The first is as training and the other of future care. The plan also operates on low contributions.
We recently did a review on some of Deutsche Bank's savings offerings. Read here for more information.
This product helps clients avoid nasty surprises when they enter retirement. It takes clients through the various steps of planning to ensure they have everything in place.
- Customers will learn how to read their insurance account and allow for missing periods.
- Furthermore, they will also be exposed to their pension application.
- The plan helps them prepare for possible nursing care financially.
- Finally, they will learn more about the remuneration regulations around pensions.
This option provides state support for old age.
- Customers have access to lifelong pension and a flexible start of pension.
- Furthermore, there are individual contribution payments.
- Finally, fiscal promotion is possible.
- Customers enjoy an annual increase in contributions.
- There are selected funds or managed portfolio models.
- Customers will also enjoy a flexible contract design.
- The option includes protection against access to property during the savings phase for unemployment benefits.
- Finally, customers enjoy lifetime retirement from the beginning of the payment.
This option does not provide the run-of-the-mill lifecycle and could offer some interesting returns. Furthermore, this option is state funded as well.
- Customers enjoy flexibility through individual contributions.
- Also, customers enjoy the protection of the paid-up capital.
- Furthermore, the investment allows adjustable monthly contributions.
- Customers enjoy a lifelong pension with their dynamic investment according to a financial model of DWS Investments.
- The start of the payments takes place between the ages of 62 and 67.
- Customers enjoy disbursement of up to 30% of the pension assets at the beginning.
- Finally, there is also a premium guarantee at the beginning of the pension.
Conveyor Loom Flex
This is a great choice for those who want to make the most out of their money from the state. Furthermore, this option provides attractive control benefits.
- Customers enjoy reduced monthly self-contribution by taking their Riester allowance into account.
- The account provides a favorable interest rate.
This option allows customers to save for the future with occupational retirement provisions. Furthermore, this is a comprehensive product offering from classic and funded pension insurance.
- Customers have access to payment options in addition to current contributions.
- Also, these contributions are tax-free contributions.
For more information on Deutsche Bank Investments, read here.
Critical Reviews Rating Deutsche Bank Financial Planning – 10 of 10
Insurance is a tough game to compete in, however, when it’s done right customers have the peace of mind that their livelihood and legacies are protected. Deutsche Bank offers a comprehensive range of products and also offers a detailed needs analysis to go along with it. Financial planning is about more than just saving for retirement, it is also about providing the means for the family to continue a reasonably comfortable life in the event one of the financial contributors to the house become disabled or die.
There are product ranges that make it easy for consumers from all walks of life to participate. Deutsche Bank proves with this range why it’s considered one of the top banks worldwide.
To see how Barclays Bank compares with their range of products, read here.