A life insurance is an indemnity whose purpose is to pay expenses in case of illness or death. This is a safeguard that can get your family or dependent out of any financial trouble in case this unfortunately happened.
Making it clear in general what the concept of life insurance is, it is important to put it as a priority if it already has economic solvency.
None of us are exempt from having an accident or suffering from an illness that can totally get us out of the game, knowing that this also has direct consequences on our loved ones.
Questions Before Hiring Life Insurance
- Does any member of your family have a disability?
- Do you have a partner?
- Do you have small children, that is, minors?
- In the future, will your pension be too low to support your own?
Remember that based on the answers to these questions you should hire life insurance that meets those expectations. In addition to them, it is important to put our finances in order, depending on the insurance rate.
Types of life insurance
– Traditional or Lifetime: This type of insurance is a safeguard during your life, and protects you and your family in the event of an unforeseen event such as loss of work, the price of your children’s education etc.
– Temporary: This insurance has the advantage that in it you can choose what kind of amount you want and what plus or premium you want to include in your payment. It gives you the option to borrow or withdraw for your personal needs.
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– Term: This insurance is the most economical and least expensive, but otherwise only benefits can be obtained in the event of death. It means that only in case the insured dies during the term of the policy, his family could receive the money agreed, otherwise the beneficiaries will not receive anything.People covered by the contract.
– Individual: In which the insurance covers only one insured.
– Collective: This is called the type of insurance that covers a certain group of people independently and with a single contract.
– Several Heads: This type of contract is granted to more than one person, but the amount will be paid until the first or last person of the contract dies.
What do insurance companies consider?
The first point to consider is your age, your gender, your medical condition and your habits are appropriate, as well as the occupation of the person who contracts the insurance.
The companies give you great importance if you are young and have a good health. In fact, these types of customers give you advantages like lower premium charges. On the other hand, older people who live a careless lifestyle, that is, that they smoke, drink or do not exercise tend to pay more.