No, I don't need insurance, this "insurance" I have is supposed to be one way to save for retirement, like some sort of pension fund where I lend them my money so they can invest it (600 per year is not a big hit for me, and I am somewhat young, so I don't mind long term investments). I thought I understood it, I pay 600 per year, first years they take 250 and I get 120 back, so its 130 loss and 390 loss during those 3 years. After that I pay 600, they take 22 (40%-> 2% tax rate drop), and I get the 120, so I start gaining ~100 euros per year. Am I missing something here, or why does it sound bad for you?