For life insurance is commonly known to those contracts that guarantee, primarily, the payment of an amount after the death of a person. Technically called life insurance risk to differentiate life savings insurance, which guarantee capital or survival of the insured income (pensions, etc.).
The main purpose of life insurance is to offset the reduction in income that can produce some circumstances affecting the life of a person such as death, disability, etc. Thus they are protected dependent people insured in case of death from any cause thereof and the claims are intended to cover all or part of the income lost by this circumstance. These revenues are what allow affected families to meet its financial obligations.
The capital to be hiring depend on the needs and financial circumstances of each insured, that it must first analyzing their real needs.
The main reasons to hire a life insurance policy are to protect the spouse, partner and children, it is a way to ensure the economic, continuation of studies or deal with payment obligations such as mortgages and loans, by paying a premium affordable.
To choose life insurance that best suits our needs, it is advisable to seek the advice of a professional to help us choose the form and coverage that best suit the personal circumstances of each, if the professional is a insurance broker, plus we provide an objective product analysis of various insurance companies, giving us criteria such as the solvency of the insurer or the level of service of each of them and their fee structure, all these factors are very important as they affecting both as to its price level for the provision of the policy, for instance, there are insurance companies apply surcharges life insurance for certain professions, sports or simply driving motorcycles, an insurance broker knows these premises and we will offer the options that best fit our profile, based on criteria of quality / price.
In calculating the premium of life insurance companies take into account the different variables, the most important, age, occupation and health status of the insured at the time of recruitment.
Insurers often apply, according to the capital to hire and age of the insured, a health questionnaire and / or a prior medical examination to ascertain the state of health of the insured, lifestyle, disease history, etc.
It is very important that the health questionnaire truthfully fill since it depends on the validity of the policy.
The types of life insurance are most traded temporary assurance and specifically the following ways:
- Term life insurance annual renovable.- The contract is renewed annually, increasing the premium according to age every year for a fixed time frame ranging from the trade date until the insured has a particular age, ranging from 65 and 80 years, depending on the insurer.
- Life insurance operations linked to financieras.- Better known as safe amortization loans or mortgage insurance because they are intended to compensate capital or an income equal to the outstanding loan amortization. Year after year it will reduce the sum insured in the same proportion as the amortization of the loan.
There is also a type of insurance called "whole life insurance" has the distinction of coverage that lasts throughout the life of the insured. This type of life insurance is aimed usually people they depend on children or relatives with serious or major asset owners that wish to provide liquidity to their heirs to meet the costs of an inheritance disabilities.
