According to the data collected in the “Estamos Seguros" Report”In 2016, the annual UNESPA report, insurance companies had to pay a total of 1,723 million euros in compensation for death in 2016. Specifically, there were almost 50,000 claims, with a average compensation of €34,427. Based on these data, we would like to highlight several key issues in life insurance.
When is a life insurance claim paid out?
Life insurance, like any policy, responds to a loss covered by the policy. With regard to this type of insurance, there are several guarantees, but there are two fundamental ones:
- DeathThe main one, which we see in the 99% of life insurances taken out
- InvalidityWe always talk about permanent issues in life insurance policies, not temporary ones. We explained a short time ago the differences in the types of invalidity. Basically, there is the absolute one (it disables you for any kind of profession) or the total one (it prevents you from exercising your profession, but not others). That said, there are insurances that can multiply your compensation by two or three, depending on whether it happens as a result of an accident or traffic accident, respectively.
In addition, and not least:
A life insurance policy is taken out before reply to a questionnaire. We need to be honest about it, if we don't want to have problems in the future.
Reasons for taking out life insurance
There is no single generalised reason that applies to everyone. However, several are the most common:
- To guarantee my family's future: the economic dependence of our children on our work and income is evident. In some cases, our partner's as well. A life insurance policy guarantees their financial security and allows us to sleep more soundly, because we know that their back is covered.
- Loan coverage: fundamentally in the case of mortgages. Banks, as a general rule, oblige us to take out insurance to cover the capital pending repayment.
It is important to note that financial institutions cannot force us The most convenient thing to do would be to study the savings in this insurance that subscribing to a company can represent. Annually, a study is carried out that reflects the high life insurance price differential with respect to banks.
What capital should I take out?
This is the million-dollar question, never better said. It depends on many variables, but it would be important to analyse the degree of economic dependence that our family may have if something were to happen to us. It would also be necessary to quantify the benefit that Social Security would give us in each case. For more details, we leave you this article on the calculation of life insurance.
If you want to enjoy these advantages, unlike the banks, we will offer you the price of various insurance companies so that YOU can choose the one YOU want. Let no one choose for you.
Contact us and choose the best life insurance for you and yours.
