Life insurance
What is life insurance?
And why you need one
Life insurance is a policy contract where the insurer undertakes to pay to an assigned beneficiary a sum of money in case of death, disability or invalidity of the insured.
In the case of death, the beneficiaries of this capital sum can be chosen, and in the case of disability or invalidity, the payment is made directly to the insured person.
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What does life insurance cover?
The life insurance covers the advance payment of a capital sum to pay for the burial. As well as extra capital in the event of having minor children, or insuring serious illnesses. It even doubles the capital in the event of death due to a traffic accident, etc.
The life insurance also offers additional services such as an online will, as well as a second medical opinion. Even telephone counselling in the event of the death of a family member, 24-hour medical and paediatric counselling service. In addition to child care, advice and management of last wills, etc.
When is it advisable to take out life insurance?
It is convenient to take out a life insurance policy when you have a mortgage or several personal loans, if you want to give peace of mind to your relatives when you are no longer alive, or if you simply want to ensure a quality of life in the event of possible accidents or illnesses in the future, as the guarantees stipulated in this type of product are quite beneficial in the long term.
What types of life insurance are there?
We can find various types of life insurance depending on what we wish to insure and the circumstances we present to the insurer:
Life Insurance RISK
It is usually the most common and its main purpose is to guarantee family protection against possible events that may occur in the future. The risk life insurance provides the guarantee of coverage of the insured capital in the event of death. In this way, the insurance company must pay the beneficiaries in the policy in the event of any of the situations stipulated in the insurance contract. Moreover, additional coverage can be added, which can range from absolute and permanent disability to professional disability. In the same way, we can find additional guarantees that will make our life insurance policy much more complete. Such as double capital for accidents, double capital for traffic accidents or a guarantee of coverage for serious illnesses. That is why it is very important to take into account everything we wish to insure in terms of our day-to-day life, as the more cover we request, the more peace of mind our loved ones will have.
Life Insurance SAVINGS
It is usually the most common and its main purpose is to guarantee family protection against possible events that may occur in the future. The risk life insurance provides the guarantee of coverage of the insured capital in the event of death. In this way, the insurance company must pay the beneficiaries in the policy in the event of any of the situations stipulated in the insurance contract. Moreover, additional coverage can be added, which can range from absolute and permanent disability to professional disability. In the same way, we can find additional guarantees that will make our life insurance policy much more complete. Such as double capital for accidents, double capital for traffic accidents or a guarantee of coverage for serious illnesses. That is why it is very important to take into account everything we wish to insure in terms of our day-to-day life, as the more cover we request, the more peace of mind our loved ones will have.
Whole Life Insurance:
It is a life insurance policy that will always be cashed in, regardless of what happens, and at the same time it is an insurance policy that lasts for life, i.e. there is no expiry date for the policy. The premium is fixed forever, so there is no increase in the premium year after year. However, the insured death capital does increase year by year due to the profit sharing of the insurance company in question.
MIXED Life Insurance:
As its name suggests, it is a life insurance policy with the characteristics of risk life insurance and in turn of life savings insurance. It provides guarantees that allow for long-term savings and also offers family protection coverage as indicated in the risk life policy.
Do you need more info?
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