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Reasons and recommendations for hiring life insurance


14.11.2017 a las 14:11 hs 0 2 0

Reasons and recommendations for hiring life insurance

There are many reasons that motivate people to buy life insurance, because through this, insurance plans to guarantee the future to meet certain needs of his family after his death or disability, especially when the Contracting Party represents the only resource (e) income in the household, as seen in this way, the insurer compensates the family for a pre-established amount between the company and the insurance, either through a single payment or as a financial income that contributes to alleviate their economic situation

In this sense, it is very useful when the family has their mortgaged home, so that if the one who carries the family charge dies, before canceling the last share of it, the insurance will release them from this commitment and count on the support that they deserve for their home , it is also very useful when the children are still studying, in order to guarantee them permanence and continuity, thus avoiding their dropout because the insurance would assume the payment of tuition, if stipulated in the policy. It can also be obtained when you have debts, for funeral expenses, among others.

Given its importance, through life insurance you can shield your loved ones economically and covering the basic necessities and thus protect them even if you are no longer physically with them, however, life insurance can also cover situations in case Invalidity or serious illness of the person representing the sole source of income of the family, where he is not able to perform his habitual duties, through an advance requested by the Contracting Party, (of a part or the total amount insured) for the period of Time to last the coverage of the contract or policy.

Recommendations for hiring life insurance:

To investigate the strength and reliability of the insurance company that you want to hire, not being carried away by advertising propaganda, but by the efficiency and prompt response by the company when it is merited.

Establish a relationship between your family's needs and the amount you can afford for insurance, to determine both the cost of insurance and the feasibility of payment, one of the conditions indispensable to the contracting company.

Renew your insurance policy if you already have it, but do not give it long after the time has expired. So please note the time period of your policy so that the expiration date does not arrive.

If you are interested in acquiring a new life policy, do not cancel the current subscription without first evaluating the alternatives that each offer, because remember that changing the policy can be expensive.

In the event of renewing your policy, please read all clauses again, to verify whether they are maintained each year or make any significant changes that may affect your personal interests.

There are two types of primary insurance: Cash value and insurance insurance to terms. Cash-value insurance comes into it several types; Universal life, variable life and whole life. On the other hand, the term insurance has a primary payment under the first years of policy, as long as you do not change or modify anything that there covers, ie without increasing the values in cash, that will be useful in the future. This is your choice, depending on the current needs and needs you have in the future, and the price you can pay constantly.

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