As
is the case with health, car and home, there are different types of life
insurance that adapt the main guarantee (protect an economic situation where
the insured's death or survival after an agreed date) to the personal needs of
each client.
In case you did not know, we explain the main features of each.
In case you did not know, we explain the main features of each.
The nonlife
Also known as risk insurance or "whole life". A date in the contract so that if the insured dies before it, the company is committed to satisfy the beneficiaries of the policy agreed to pay a benefit in a lump sum (one-time charge) or income is fixed ( several newspapers) receipts.
Conversely, if the insured lives surpassed the contract issue is resolved without further.
In addition to the main guarantee as already explained, there are other types of whole life insurance that can be offered additional benefits to be chosen by the insured such as accidents (commitment of additional capital if the stated cause of death is the result of an accident) or disability (the risk being hedged, beyond death, disability or incapacity is insured).
Survival insurance
The common characteristic of these types of life insurance, also called "saving policies") is that if the insured survives a date previously agreed in the contract, the insurer agrees to make payment of a benefit.
Within this category, there are different ways:
- Unit linked: The policyholder bears the risk of investment performance.
- PPA: Insured Pension Plans are similar to individual pension plans and tax law.
- PIAS: Individual Systematic Savings Plans long term in which the contractor receives an annual annuity survives if certain date.
- Annuities: Similar to the above with the exception that it can spread to family characteristics of the insured adding new features that address the death or return of benefits scheme.
Mixed types life insurance
It is a combination of the two types of life insurance above. In this case, the consideration that the insurer guarantees to beneficiaries either becomes effective (if the death of the insured occurs) or the insured, the settlement of an agreed date.
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