What are the Life Insurances?

David Esteva
Web Developer

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This type of insurance is responsible for covering the risks of death, disability and survival. Life insurance is part of personal insurance and guarantees that a person in the event of their own death can grant financial compensation to their immediate family or beneficiaries.

The sum of money received will be stipulated in the insurance contract, which will have a series of conditions for its payment.

Who can take out the life insurance?

Anyone, in fact, for those who carry out high-risk activities and / or jobs, is more than recommended, especially if it is the only family support.

The main mission of life insurance is to protect the insured through compensation (insured capital), whose method of payment can be from financial income or through a single payment for an agreed amount.

Types of Lifes Insurances

  1. Its duration: They can be Temporary or for Whole Life.
  2. For the Premium: Level premium or risk premium.
  3. Number of Insured: Individual or Group Insurance.

The insurer agrees to pay through a policy, the payment of the agreed compensation and the insured must pay a monthly fee that guarantees coverage, so that, in the event of an unfortunate event, the people who have been chosen as beneficiaries are
financially protected.

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