Daily life exposes us to risk situations that can strongly affect personal finances. On any given day, a disease can destroy everything because we have worked.
Situations such as disability or death can destroy the heritage that we have forged for our family; For this reason, it is important to have life insurance that protects our loved ones when we can no longer do so.
The offer of policies in the market is very large, so HiR Seguros recommends following some steps before choosing a tool that meets our needs.
1. Get familiar with the vocabulary. It is important to know some terms that will help you make a good decision.
- Coverage : is the specific risk for which the insurance will protect you.
- Policy : is the document that contains the general rules of your insurance.
- Sum insured : refers to the maximum amount that the company will pay you if the covered loss occurs.
- First : refers to the cost of insurance.
2. What do you want to insure? There are unemployment, medical, car, real estate or personal insurance. Prioritize your needs and be prospective, analyze what things or who are vulnerable.
3. Economic dependents. Consider whether you have young children or are studying, single or retired; how many income besides yours will commit.
4. What coverage do you have? Commonly the coverage is for death, damage to third parties or disability; however, you can opt for terminal or serious illnesses or funeral expenses. Coverage is suggested to be five to eight times current income.
5. Define your budget. Think how much you earn and how much you could allocate for the insurance payment.
6. Review options. The insurer may be a bank or perhaps a specialized company, consider the trajectory, presence in the city and country, prices and what its strength in the sector. The insurer must have physical offices and permanent care websites, as well as alternative means of communication.
7 Seek advice. There are insurance agents and insurance brokers. The first are people who guide you about existing insurance and make you a tailored plan. Meanwhile, the broker are intermediaries of several companies, which are dedicated to marketing insurance contracts and policies to their clients.
8. Compare. Many times the decision for insurance is only motivated by the price, however, the ideal is to make an evaluation of the advantages and disadvantages of each option.
9. Organize your income. Find payment plans that do not compromise other necessary expenses in your family.
10. Beneficiaries. Clarify the name and percentage that will be granted, remember that they cannot be minors. Avoid intermediaries, if you appoint someone else to deliver the sum insured this action is only a moral obligation.