Discover the importance of purchasing life insurance

And life insurance, translates into being able to guarantee your family financial protection in the event of accidental death or the result of a chronic illness, and no one is exempt from suffering an accident that costs them their life.

Taking out a life policy implies the fact that the family is being financially protected at the time of the death of the insured, where the insurer gives the beneficiaries a monetary premium which depends on the type of policy that the insured acquired.

It is necessary to point out that there are two types of life insurance:

  • Savings life insurance
  • Risk life insurance

Life insurance can be contracted individually or collectively, that is, the insured can include his or her family group. It is important to note that the premium increases as the insured ages; the amounts vary depending on the insurance company that is contracted.

In the event of the death of the insured, the beneficiaries of the policy come to request the corresponding compensation. When the cause of death is natural, the insurance company expedites the payment of the benefit. In the event of an accidental death, the insurer carries out an investigation. To determine if the cause of death is covered, it is important that the insured acquire a comprehensive policy that guarantees payment of compensation regardless of the cause of death.

Factors to consider when choosing life insurance

One of the primary requirements for hiring a life insurance, is the age of the insured which must be in the range of 18 to 69 years of age. If the death is natural as a result of an illness, it must have been acquired after the start date of the policy, otherwise the compensation is not cancelled. , compliance with the clauses of the insurance contract is key to establishing a business relationship with the insurer. 

If the insured does not die but is disabled, he or she is compensated with a sum of money that corresponds to the basic insurance, distributed over a period of 5 years to guarantee a monthly income for the insured. Insurance companies focus on offering coverage policies. immediate.

The contracting of the policy may be affected in the following cases:

  • If the age of the beneficiaries is not stipulated within the range
  • When one of the family members has a disability
  • If any member of the family group suffers from a chronic illness

The risk assessment of life insurance, It depends on the insurance company and depending on the result, the type of policy that fits the needs of the insured and the insurance company is offered. What is sought is an average that allows the enjoyment of a policy to guarantee peace of mind. that in the event of his death the insured leaves his family protected.

 

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