LIFE INSURANCE: IS IT WORTH IT?

 

A life policy is a highly recommended option since, by having so many modalities, it allows a very flexible and personalize

 

d product to the specific needs of the client. You may not have stopped to think about the need to take out life insurance, but it is a choice that can save you or your family from more than one trouble.

Taking into account your personal situation, life insurance is worth it if you choose a type and modality that suits what you want to protect. Generally, the most requested is coverage of the death of the insured through life-risk insurance or obtaining a future income that the policyholder can enjoy through life-savings insurance.

 

However, you can also take out a life insurance policy that contains elements of both insurances, as in the case of mixed life insurance

 . In this article we explain all the types of life insurance on the market and the characteristics that make them attractive to the client. Furthermore, depending on the insurance companies, you can find a multitude of complementary coverages that provide support in a greater variety of situations, such as cases of permanent disability , serious illness , etc.

Below we detail the situations in which it is advisable to take out life insurance.

Article Index

• 1 What life policy to take out?
  • 1.1 Is risk life insurance worth it?
  • 1.2
     Is savings insurance worth it?
  • 1.3 Is mixed life insurance worth it?

Article Index

1 What life policy to take out?

1.1 Is risk life insurance worth it?

1.2 Is savings insurance worth it?

1.3 Is mixed life insurance worth it?

What life policy to take out?

Is risk life insurance worth it?

The purpose of risk life insurance is to provide the beneficiaries with an economic amount according to the insured capital of the policy after the death of the insured, who usually coincides with the policyholder but may be different people. Furthermore, this capital received by the beneficiaries does not have to be declared in the personal income tax or in the Inheritance and Donation Tax, so it is free of embargoes and tax burdens and can be fully enjoyed by the beneficiaries, even when they reject any debts that may arise. accumulate the deceased.

Taking out risk insurance is highly recommended in certain circumstances. For example, if the financial sustainability of your family falls on your shoulders, in such a way that your absence would leave an economic burden and a situation of vulnerability for your loved ones, you will probably want to take out this type of insurance. Because? Because you guarantee that youArticle Index

1 What life policy to take out?

1.1 Is risk life insurance worth it?

1.2 Is savings insurance worth it?

1.3 Is mixed life insurance worth it?

What life policy to take out?

Is risk life insurance worth it?

The purpose of risk life insurance is to provide the beneficiaries with an economic amount according to the insured capital of the policy after the death of the insured, who usually coincides with the policyholder but may be different people. Furthermore, this capital received by the beneficiaries does not have to be declared in the personal income tax or in the Inheritance and Donation Tax, so it is free of embargoes and tax burdens and can be fully enjoyed by the beneficiaries, even when they reject any debts that may arise. accumulate the deceased.

Taking out risk insurance is highly recommended in certain circumstances. For example, if the financial sustainability of your family falls on your shoulders, in such a way that your absence would leave an economic burden and a situation of vulnerability for your loved ones, you will probably want to take out this type of insurance. Because? Because you guarantee that your spouse, children and even parents will receive financial compensation that allows them to face upcoming expenses and be able to survive when you are not there .

It is also worth taking out life insurance when signing a mortgage ; In fact, it is a very common combination, sometimes required even by the banks themselves. A life insurance linked to a mortgage guarantees, both to the bank and to the circle of the insured, that the debt contracted with the entity will be settled, so that the debt does not pass to the heirs.

Although the basic coverage of life insurance is compensation for the death of the policyholder, there are many additional coverages that can make a difference when considering whether it is worth taking out this policy. Here we have the most notable examples:

Coverage may be included for death due to an accident , usually traffic. Risky activities and professions are usually excluded from life insurance, but traffic accidents can be covered by the policy although, logically, with a small increase in the premium. This is highly recommended coverage if you spend a lot of time behind the wheel or often travel on dangerous or poor roads.

Coverage of medical expenses and/or financial compensation in the event of a serious illness may also be included , to be able to cover your treatment or have money for the last days in the event of a terminal illness.

Finally, it is worth highlighting the coverage of permanent disability that makes it impossible for the injured party to continue with his professional activity, through the payment of a subsidy that will allow him to maintain his standard of living and the possible expenses derived from his new condition.

Is savings insurance worth it?

In life-savings insurance, the policyholder acts as beneficiary, receiving a capital injection if he or she arrives alive at the end of the term set in the policy.

One of the best reasons to subscribe to this insurance is that it serves as an investment, since it allows you to make your savings profitable , even obtaining a tax benefit , because it is not necessary to pay the Treasury for the profitability generated except at the time you receive the capital.

On the other hand, if you are interested in building up your retirement pension – and the way things look, it is better to consider it – it is a good idea to take out any form of this type of insurance, such as diversified insurance funds (also known as unit Link ), individual systematic savings plans (PIAS) or PPAs (Insured Provident Plans). This way you will be able to enjoy a more dignified retirement , as you deserve.

Is mixed life insurance worth it?

If the advantages of risk insurance and savings insurance seem attractive to you, it is most likely worth taking out a mixed modality, as it guarantees that the beneficiaries receive capital in the event of your death but, at the same time, , provides you with a capital payment in case you arrive alive at the expiration of the term.

Finally, we want to mention other advantages of taking out a risk, savings or mixed policy. And a policy can be individual in nature , where there is only one policyholder and other beneficiaries, which is the most common ; But it is also possible to adopt a collective modality in which there are several insured persons, such as the various members of the family unit or all the workers of a company.

In fact, the government is currently promoting measures to promote group insurance, despite the fact that an individual policy is the most advisable if you are the main source of income for your family.

Also remember that the insurance can be modified and adjusted to the needs of the moment, removing coverage, modifying the insured capital or changing the beneficiaries of the insurance. This way it will always be worth having life insurance, in any circumstance , and you and your loved ones will be protected economically and financially.

Do not hesitate to contact us if you want us to advise you on the life insurance you need. If you wish, you can also use our insurance comparator and save more than 45% on your annual premium.r spouse, children and even parents will receive financial compensation that allows them to face upcoming expenses and be able to survive when you are not there .

It is also worth taking out life insurance when signing a mortgage ; In fact, it is a very common combination, sometimes required even by the banks themselves. A life insurance linked to a mortgage guarantees, both to the bank and to the circle of the insured, that the debt contracted with the entity will be settled, so that the debt does not pass to the heirs.

Although the basic coverage of life insurance is compensation for the death of the policyholder, there are many additional coverages that can make a difference when considering whether it is worth taking out this policy. Here we have the most notable examples:

Coverage may be included for death due to an accident , usually traffic. Risky activities and professions are usually excluded from life insurance, but traffic accidents can be covered by the policy although, logically, with a small increase in the premium. This is highly recommended coverage if you spend a lot of time behind the wheel or often travel on dangerous or poor roads.

Coverage of medical expenses and/or financial compensation in the event of a serious illness may also be included , to be able to cover your treatment or have money for the last days in the event of a terminal illness.

Finally, it is worth highlighting the coverage of permanent disability that makes it impossible for the injured party to continue with his professional activity, through the payment of a subsidy that will allow him to maintain his standard of living and the possible expenses derived from his new condition.

Is savings insurance worth it?

In life-savings insurance, the policyholder acts as beneficiary, receiving a capital injection if he or she arrives alive at the end of the term set in the policy.

One of the best reasons to subscribe to this insurance is that it serves as an investment, since it allows you to make your savings profitable , even obtaining a tax benefit , because it is not necessary to pay the Treasury for the profitability generated except at the time you receive the capital.

On the other hand, if you are interested in building up your retirement pension – and the way things look, it is better to consider it – it is a good idea to take out any form of this type of insurance, such as diversified insurance funds (also known as unit Link ), individual systematic savings plans (PIAS) or PPAs (Insured Provident Plans). This way you will be able to enjoy a more dignified retirement , as you deserve.

Is mixed life insurance worth it?

If the advantages of risk insurance and savings insurance seem attractive to you, it is most likely worth taking out a mixed modality, as it guarantees that the beneficiaries receive capital in the event of your death but, at the same time, , provides you with a capital payment in case you arrive alive at the expiration of the term.

Finally, we want to mention other advantages of taking out a risk, savings or mixed policy. And a policy can be individual in nature , where there is only one policyholder and other beneficiaries, which is the most common ; But it is also possible to adopt a collective modality in which there are several insured persons, such as the various members of the family unit or all the workers of a company.

In fact, the government is currently promoting measures to promote group insurance, despite the fact that an individual policy is the most advisable if you are the main source of income for your family.

Also remember that the insurance can be modified and adjusted to the needs of the moment, removing coverage, modifying the insured capital or changing the beneficiaries of the insurance. This way it will always be worth having life insurance, in any circumstance , and you and your loved ones will be protected economically and financially.

Do not hesitate to contact us if you want us to advise you on the life insurance you need. If you wish, you can also use our insurance comparator and save more than 45% on your annual premium.What life policy to take out?

Is risk life insurance worth it?

The purpose of risk life insurance is to provide the beneficiaries with an economic amount according to the insured capital of the policy after the death of the insured, who usually coincides with the policyholder but may be different people. Furthermore, this capital received by the beneficiaries does not have to be declared in the personal income tax or in the Inheritance and Donation Tax, so it is free of embargoes and tax burdens and can be fully enjoyed by the beneficiaries, even when they reject any debts that may arise. accumulate the deceased.

Taking out risk insurance is highly recommended in certain circumstances. For example, if the financial sustainability of your family falls on your shoulders, in such a way that your absence would leave an economic burden and a situation of vulnerability for your loved ones, you will probably want to take out this type of insurance. Because? Because you guarantee that your spouse, children and even parents will receive financial compensation that allows them to face upcoming expenses and be able to survive when you are not there .

It is also worth taking out life insurance when signing a mortgage ; In fact, it is a very common combination, sometimes required even by the banks themselves. A life insurance linked to a mortgage guarantees, both to the bank and to the circle of the insured, that the debt contracted with the entity will be settled, so that the debt does not pass to the heirs.

Although the basic coverage of life insurance is compensation for the death of the policyholder, there are many additional coverages that can make a difference when considering whether it is worth taking out this policy. Here we have the most notable examples:

• Coverage may be included for death due to an accident , usually traffic. Risky activities and professions are usually excluded from life insurance, but traffic accidents can be covered by the policy although, logically, with a small increase in the premium. This is highly recommended coverage if you spend a lot of time behind the wheel or often travel on dangerous or poor roads.
• Coverage of medical expenses and/or financial 
  compensation in the event of a serious illness may also be included , to be able to cover your treatment or have money for the last days in the event of a terminal illness.
• Finally, it is worth highlighting the coverage of permanent disability that makes it impossible for the injured party to continue with his professional activity, through the payment of a subsidy that will allow him to maintain his standard of living and the possible expenses derived from his new condition.

Is savings insurance worth it?

In life-savings insurance, the policyholder acts as beneficiary, receiving a capital injection if he or she arrives alive at the end of the term set in the policy.

One of the best reasons to subscribe to this insurance is that it serves as an investment, since it allows you to make your savings profitable , even obtaining a tax benefit , because it is not necessary to pay the Treasury for the profitability generated except at the time you receive the capital.

On the other hand, if you are interested in building up your retirement pension – and the way things look, it is better to consider it – it is a good idea to take out any form of this type of insurance, such as diversified insurance funds (also known as unit Link ), individual systematic savings plans (PIAS) or PPAs (Insured Provident Plans). This way you will be able to enjoy a more dignified retirement , as you deserve.

Is mixed life insurance worth it?

If the advantages of risk insurance and savings insurance seem attractive to you, it is most likely worth taking out a mixed modality, as it guarantees that the beneficiaries receive capital in the event of your death but, at the same time, , provides you with a capital payment in case you arrive alive at the expiration of the term.

Finally, we want to mention other advantages

 of taking out a risk, savings or mixed policy. And a policy can be individual in nature , where there is only one policyholder and other beneficiaries, which is the most common ; But it is also possible to adopt a collective modality in which there are several insured persons, such as the various members of the family unit or all the workers of a company.

In fact, the government is currently promoting measures to promote group insurance, despite the fact that an individual policy is the most advisable if you are the main source of income for your family.

Also remember that the insurance can be modified and adjusted to the needs of the moment, removing coverage, modifying the insured capital or changing the beneficiaries of the insurance. This way it will always be worth having life insurance, in any circumstance , and you and your loved ones will be protected economically and financially.

Do not hesitate to contact us if you want us to advise you on the life insurance you need. If you wish, you can also use our insurance comparator and save more than 45% on your annual premium.