Life insurance: What do I need to know?

It makes little sense to put away your money in a life insurance policy covering death and disability, while building up your savings at the same time. It is often unclear how much ends up in your savings, how much the insurance element costs and how much goes to the broker in the form of commission. It is usually more beneficial to organise your savings via cost-effective investments, such as an ETF savings plan, and then also take out separate risk insurance that covers you and your family for any eventuality.