Insurance is an integral part of managing modern day finances. It provides consumers with the peace of mind that there is financial recompense in the event of an emergency, even death. Founded some centuries ago to protect cargo that let ports for distant shores, insurance can now be classified in two different categories: short-term and long-term insurance. With that in mind, it’s important to know that consumers have an obligation where these products are concerned too. But first, this review takes a look at what Societe Generale has to offer and where that leaves the consumer. This in comparison to some of the best insurance ranges across the world.
Deutsche Bank has a different approach to insurance and the full review is available.
About Societe Generale
France is known for its incredible banking structures, and Societe Generale happens to be part of that. The bank has a rich history that spans back as far as the 18th century. Through World Wars and economic shifts, the bank has managed to stay at the forefront of product development through trying times. Customers now benefit from both traditional and modern banking practices.
Societe Generale Insurance Product Offerings
Customers are spoiled for choice with the car insurance options, as there are 4 to choose from. Furthermore, the insurance options include various assistance services.
- Simple Plan: For those with a limited budget, this type of insurance is third-party only.
- Intermediate: A third-party insurance that has a little bit extra, such as certain damages to the vehicle.
- Full: This covers a full range of options which insures the vehicle regardless of who is at fault.
- Comprehensive: This option is more than just cover for damages, as it also provides customers with access to additional services.
- Finally, customers may also speak to their advisor in terms of insurance for their two-wheelers.
Find out what banks such as Banco do Brasil have in store for insurance.
Motorhome, Caravan, and Trailer Insurance
Those who like traveling with motorhomes, caravans, and trailers have the peace of mind that their items and its contents are covered. Furthermore, it covers events such as liability, theft, fire, broken windows, and more.
- Customers enjoy up to 30 days free coverage if the old vehicle was insured by Sogessur. This is when they purchase a new vehicle to replace the old.
- The motorhome insurance has a driver protection option that compensates for bodily injury where the driver was responsible.
- Furthermore, customers enjoy 24/7 towing services in the event of an accident or breakdown.
- Also, those who have their finance for the vehicle with Societe Generale can benefit from a 1 to 3 month of their installments supported.
- Finally, in the event the motorhome can no longer be used due to theft, damage, or more, the option of a loan motorhome is available.
This type of insurance is designed to provide a lump sum to beneficiaries in the event of the policy holder’s accidental death. Furthermore, there is a savings portion that will also pay out to the beneficiaries.
- Beneficiaries receive an advance of EUR 5,000 within two working days, which can be used for funeral arrangements or other immediate expenses.
- Customers are no required to undergo medicals for this insurance.
- They may also choose their beneficiaries freely.
- There is an annual fee of EUR 35.
- Finally, the capital beneficiaries receive is both income and inheritance tax exempt.
Customers have quite a few options here to choose from, which includes 4 formulas and 2 optional additions. Furthermore, customers don’t have to worry about a waiting period or to complete a medical questionnaire.
- This insurance type does not attract advance fees at many health professionals.
- There are strong guarantees and services in the case of hospitalization, which provides some peace of mind.
- Furthermore, customers enjoy enhanced dental and optical guarantees.
- There is one plan for the entire family.
- Finally, customers enjoy attractive rates.
2 Wheel Insurance
With this option, customers enjoy guarantees necessary to protect them and their two wheels. Furthermore, it covers scooters, mopeds, motorcycles, quads, and more.
- Customers enjoy different cover levels according to their personal needs.
- The Essential Formula: This cover includes assistance in the event of a breakdown or theft. Furthermore, there is the protection of the driver and the reimbursement of their contribution in the event there is an accident.
- The Enhanced Formula: This includes what the Essential Formula offers, plus additional guarantees. These guarantees include cover for specific events such as fire, theft, traffic accidents, and more.
- The All-Risk Formula: Customers with motorcycles have this cover as an option. The cover includes a replacement vehicle when a disaster occurs. Also, those who have their motorcycle stolen within 12 months have the benefit of being compensated its purchase value. There is also the option to increase this to 36 months.
- Finally, customers enjoy certain benefits regardless of the formula. These include cash back after 3 years, refunds of contributions in the event of an accident, driver’s protection, and more.
Customers who want to protect themselves and their families in the event of everyday accidents will find this type of cover ideal.
- This cover includes incidents such as accidental falls, injury while performing everyday tasks, and more.
- Customers enjoy two levels of coverage. The Essential Formula has guarantees from 10% disability rate. The Serenity Formula provides optimal coverage and compensation from 1% disability rate.
- Furthermore, there is one contract to cover the entire family.
- There is also immediate coverage without medical formalities and without age limits.
- Finally, additional services include older children and grandchildren to a certain degree.
Genea Life Insurance
This is an insurance designed to cover the policyholder in the event of death. Furthermore, there is also cover for total disability on this policy.
- Customers only need to complete a simple declaration of health for this policy to kick in, in most cases.
- Beneficiaries receive a capital advance of 10% to a maximum of EUR 5,000 within 2 days of the death. The remainder of the funds is then usually paid within 10 days.
- Furthermore, there is a capital guarantee option which can range between EUR 20,000 and EUR 149,999.
- There is also the option to double the guaranteed capital in the event of accidental death or to triple it in the event of a traffic accident.
- The policy provides a guaranteed capital indexing option to maintain its value over time.
- In the event the policy is a couple membership, there is a 15% discount for the spouse.
- Finally, beneficiaries enjoy the lump sum tax-free.
Customers who don’t want their family members to be burdened with their funeral arrangements in the event of their death will find this policy type ideal.
- The policy allows those between the ages of 50 and 80 to join.
- There is a guaranteed capital amount of EUR 3,000 to EUR 10,000 per EUR 500.
- Furthermore, customers are not required to go for medicals, regardless of their age.
- Also, customers have the option of changing the details as the policy provides some flexibility.
- Budget Formula: This is the most cost-friendly option for those who just require a basic payout of the capital amount. It also pays out within 48 hours.
- Assistance Formula: Customers have the option to increase the Budget Formula with additional services. This includes assistance to relatives and help with the funeral arrangements.
- Realization Formula: This option includes both the services offered in the Budget and Assistance Formulas, plus three additional services.
Those who wish to protect their homes will find this product suitable. Furthermore, customers have three options to choose from, the Optimal, Comfort, and Initial Formula.
- Contracts are tailored to the individual needs of the customers.
- Additional services include pool and spa packs, garden packs, and more.
- There is also a civil liability plus option.
- Finally, customers benefit from specialized assistance that is available 24/7.
A bank that offers decent options on mortgages, is HSBC. See the latest review on it here.
Student Housing Insurance
Great pricing and easy access for students who wish to cover their belongings while studying. Furthermore, it’s available to students or apprentices between the ages of 18 to 25, a tenant of a student room, or an apartment of 1 to 2 rooms. The guarantees include public liability, theft, and damage due to vandalism, fire, and more.
Investor Home Insurance
Customers who have that extra property that serves as an income stream will find this insurance suitable. Furthermore, customers can adapt the cover to suit their needs by adding optional packs to their essential guarantees.
This type of insurance is suitable for those who wish to protect their keys, papers, household appliances, and payment methods.
- Customers enjoy cover should their mobile phone or touchpad of fewer than 3 years get stolen or damaged. There are, however, contractual provisions and limits.
- Furthermore, this policy also provides an extension to the manufacturer’s warranty in the case of a breakdown. This is for electrical, computer, hi-fi, video appliances and more. However, these needed to have been purchased new with a Societe Generale bank card.
- Finally, there is also cover against the fraudulent use of cards or checks.
Legal protection for the everyday person, this cover provides cover over a variety of different fields. These include habitat, consumption, automobile, labor law, family, lessor, and more.
This insurance type is suitable for those who can’t afford to become disabled, wholly or partly. Furthermore, the insured and their loved ones enjoy protection should such an event occur.
- Customers can opt for a savings contract or integrate it into a retirement savings plan.
- They will receive a life annuity of at least EUR 250 per month.
- Furthermore, the life annuity is triple in the event of severe dependence.
- There is also a lump sum should conversions to vehicles or homes be required.
- A support service for carers is also included.
- There is no health questionnaire, only a declaration of health.
- Finally, this is for anyone between the ages of 50 and 79.
Habitat Security 2
Customers who require optimal security measures will find this option ideal. Furthermore, it includes a powerful remote monitoring device, smoke detectors, and more.
Critical Reviews Rating Societe Generale Insurance: 10 of 10
This is a clear and concise list of options that are available to clients. The options are comprehensive and many of them provide customers with various options to suit their individual budgets and needs. Furthermore, the options are also ideal for those who have minimal to cover, to those who have an entire list of things.
Apart from having a great range, the options are also easy to navigate through the website. We are happy to provide a perfect score to the Societe Generale Insurance range.
Compare this range of products to that of some French competition, BNP Paribas.