Life insurance what you need to know
Posted on: 27 Febrero, 2017 /
Categories: life insurance
If you’ve never stopped to think, it’s time to stop it, get yourself life insurance
When one is becoming greater, begins to worry about things that previously did not have the least importance.
The economic problems that would cause to the family after the death is one of thefears.
42% of Spaniards older than 25 years claims to have contracted some kind of life insurance: 25.3% and 16.7% linked to a mortgage “open market”, without linking to any type of financial product, according to the Institute of sociological studies, analysisand research.
What is life insurance?
Life insurance is a form of personal insurance covering the risk of death of the insured (in case of death) or their survival to maturity (in the case of life).
It aims to ensure the economic security of those who are economically dependent on the insured in the case that this dies
How to choose the ideal life insurance?
Choosing a safe is not an easy task, but you choose correctly that long term so longterm meets the expectations placed in it.
It should be considered a series of guidelines, consider the number of ages of children or persons under age in charge, needs of the family and the money needed to make this be reattached to a new financial situation).
What are the different protection of life insurance?
1. life insurance for life or ordinary: ordinary life insurance provides protection for the insured during their lifetime provided premiums are paid. Permanent life policies require the payment of premiums of constant value.
2 temporary life insurance: the insurer will only pay the insured amount of this coverage if the insured dies during the period specified in the policy contract.
It aims to provide protection during this period.
3 total life insurance: the insurer will pay the insured amount of this coverage to theend of the contracted period or sooner if the insured dies. Its objective is to provideprotection for death and survival.
The intelligent purchase of life insurance
1 get quotes from several companies. Each insurance company uses assurance guidelines, a company can sell a policy with a premium lower than another.
2 make comparisons. It is important to make sure that policies that compare offer similar levels of coverage.
The more features and benefits you have a policy, it will cost more. But it is important to know that a policy does not choose only by price but by their characteristics since they must be adjusted to the needs.
3. form of payment of the amount insured. The payment is another point that should be checked accurately now is not just a one-time payment, which leads to deliverthe guaranteed total quantity, which one trust, which are fixed in forms partial payments.
4. it is important to take into account the possibility of changing the level of protection according to the specific needs of each moment.
What are the benefits of life insurance?
Life insurance, is characterized mainly by the benefits it offers.
1. the protection of the survivor, providing funds for the survivors of the insured tomaintain their way of life in the event of the death of the insured. If happens something to the insured, loved ones can move forward and overcome the new financial situation arising.
2. in case of permanent disability, the insurer provides compensation which allows to complete the pension offered by the State.
3. this insurance is unattachable, which means that life insurance is not liable for thedebts that the insured had upon the death. This allows that it is received when taking the inheritance, secured capital although be rejected, the debts of the policyholder.
4. If the beneficiaries are immediate family members, capital will receive in the event of death is not required to pay taxes on inheritance and gift tax, is exempt. Withthis, the policyholder can rest assured that capital has hired will be those coming tothe family.
5. the policy may be gaining and losing coverage as beneficiaries on the basis of what is needed or is decided in each moment. You can include a new loved one as beneficiary or dispense with coverage that we no longer need.
For many this topic is rather violent, but is essential to good advice, study the diversity of offerings in order to determine what is the ideal coverage needs.
Here are some tips that I give life insurance.