What is microinsurance about?

The microinsurance, They are an alternative offered by insurance companies to give clients the peace of mind that their family environment will be protected at a low cost. The monthly payment for this type of insurance is lower than that of traditional insurance.

The policy is available for individuals, and has been designed in order to offer the client comprehensive coverage at an affordable price. It is an ideal product for families who do not have a high economic income but who seek to feel protected.

The coverage of the microinsurance, It will depend on the type of policy chosen, among which are:

• Educational insurance
• home insurance
• medical insurance

These insurances guarantee coverage of the basic needs of the insured and their family group, in order to prevent unforeseen risks that may arise, in addition to being a comfortable option that can be purchased at unbeatable prices.

Microinsurance economic coverage 

Risk prevention is usually expensive, but with the option of hiring the microinsurance, Full coverage of risks that may arise is guaranteed at an economical price. The cost is calculated based on the monthly income of the insured, which is key to avoiding budget excesses.

The insurance offered by banks when purchasing their financial products falls into this category. The insured chooses the number of beneficiaries who can use the insurance assets. Microinsurance includes packages that include:

• Life insurance
• Personal accident insurance
• fire insurance

Where the coverage is of quality, lately due to the economic crisis that various countries around the world are going through, the demand for this type of insurance has increased considerably, thanks to the extensive coverage it offers and its low cost.

How do you acquire microinsurance?

There are various service channels in insurance companies to obtain a insurance policy. microinsurance, A client or future insured seeks to protect their family and assets from accidents and unexpected events, so the best alternative lies in contracting this type of insurance.

The client can request a microinsurance quote through:

• Insurance corridors
• insurance companies
• Banking entities
• Insurance cooperatives

The policy offers the following coverage:

• Funeral expenses
• medical expenses
• Medication expenses
• Life insurance
• home insurance

Depending on the type of policy to be acquired, the offer of services in terms of coverage varies. It is necessary to note that in this type of policy, coverage is limiting, unlike traditional insurance where there is broad coverage of services. 

It is worth purchasing this type of policy since it has good coverage and can be purchased at affordable prices. In addition, they have financing plans that adapt to your financial needs. There is no doubt that purchasing a microinsurance,  It is the best option.