What is it for and how to save on your life insurance
To a greater or lesser extent we all have contracted some type of insurance throughout our lives, some of them even long before reaching the age of majority. There are many of them, from those that cover accidents, hospitalizations, home, deaths and also what we are going to focus on in this article is in the life insurances and how to save on your insurance.
I was surprised to read a press article in which it was claimed that 58% of the Spanish population does not have life insurance, relegating Spain to the tail of this type of hiring behind even Germany or France. The reason argued in the survey is simply not to believe it a priority or necessary in their lives. In addition, it is even more alarming than that 40% of the population that if they have contracted life insurance, cannot say on many occasions even in which company or entity they have hired them. They also do not know aspects as necessary as toppings or ways to collect from family members. Therefore, we will try to resolve or clarify some doubts about it.
What is a insurance of life?
On many occasions we tend to believe that death insurance and life insurance are the same. To quickly differentiate them, it must be taken into account that the first of them deals with all the procedures that need to be carried out after a death such as burial, transfer of relatives, flowers, etc., while a life insurance Its main purpose is to provide financial assistance to family members in case not only of death but also in situations of total or permanent disability. Now when life insurance is linked to a mortgage, the main purpose of this is to cancel the mortgage contracted with the entity so that the heirs are left without any debt.
How to hire and save on your life insurance
One of the fundamental reasons why we decided to take out life insurance is when signing a mortgage. Currently, banks cannot force us to hire mortgage life insurance with them, although it is true that not having that "link" with the entity can mean a higher interest rate on our credit. However, everything is to take numbers and accounts since with a simple quick calculation it can be observed that in many cases that penalty is lower than the amount saved by contracting it directly with the insurer.
You only need to take a look at the press to read headlines such as “the life policy is more expensive with the bank than with the insurer","life insurance, up to 50% more expensive with the bank than with the insurer"Or the latter"life insurance, the gold mine for banks"To realize that on many occasions the bank abuses its" economic power "to take advantage. Therefore, it is essential to collect information, amounts and pros and cons before deciding which insurance company suits us best. This technique is put into practice for everyday insurance such as home or car insurance, using comparators to find the perfect policy at the perfect price, so why not do it and save on your life insurance?