Is a bullet loan and ETF currently worth considering?

Look at the DAX prices over the last decades, for example:
- 1993: 2400 points
- 2000: 7500 points
- 2003: 2500 points
After that, it went up significantly again, but what would you do if you had a loan with a bullet payment due in 2003?

I do like taking some risks, but with all the trade wars and other tensions, the stock market has been very unpleasant lately.

Even though I can understand and agree with your basic idea, the DAX should not exactly be the tool of choice here.... I would rather opt for an index with greater diversification (Dev. World + Em. Markets)

That must be an older loan. This model of assignment of the LV has not been used for years. The meager interest rate says hello.

The life insurance was concluded in 1999 with regard to interest and taxation. The targeted loan amount would now already be covered by the guaranteed capital payout.

And the whole thing (loan + life insurance) would still run for about 20 years in terms of interest and duration with the funds...

But as I said, these are just thoughts for now about whether I should invest the imaginary repayment rate in a conservative but profitable fund until then.

I believe it depends on whether it is a financing at the financial limit or if there is still plenty of financial leeway. If the remaining debt and a possible interest rate increase after 10 years don't financially overwhelm you, why not take some risks?
If the stock market is at a low point after 10 years, the loan can also be extended. Eventually, the stock market will recover.

My main loan is still running with almost 3% annual interest, which I prioritize for special repayments. Since a bit more than the maximum special repayment remains, I still have the option to make special repayments on the KFW loan with 1.4% or to acquire ETFs. I trust the ETFs to generate the 1.4% after-tax return without any problems. A 3% after-tax return should theoretically also be possible with ETFs in the long term, but I am going for the safe option with the special repayment. Overall, for me it is an interim solution.

In all your return considerations, an important point is overlooked. Your capital is usually not as high as your loan. What does that mean? You pay interest on a very large amount, but receive "high (and high risk)" interest on your small capital. Unless you have the entire sum readily available, an A-loan with high repayments and many special repayments is overall the cheaper and better alternative.

A crucial point is overlooked in all your return considerations. Your capital will usually not be as high as your loan. What does that mean? You pay your interest on a very high amount but receive “high (and high risk)” interest for your low capital. Unless you have the entire amount readily available, an A-loan with high repayment and lots of special repayments is overall the cheaper and better alternative.

You can't compare the entire loan to that. You only have the interest savings on the annuity loan equal to the amount of the repayment.