Do you know what are the benefits of taking out life insurance ? Knowing the advantages that life insurance offers us, as well as any other type of insurance, can help us decide quickly and safely whether to take out our policy.
Next, we are going to explain to you what are the main benefits of taking out life insurance , so that you can assess them, weigh them and decide to acquire one. At Aegon Seguros we are here to help you, so if you have any questions or concerns, do not hesitate to contact us!
📌 But first of all, are you clear about what life insurance is? If not, you can start by reading What is life insurance and what is it for .
Who, when and why should have life insurance?
The most common reaction to the mention of life insurance is generally rejection or deferral. Nobody feels that it is time to think about their own mortality and it is very easy to find an excuse not even to consider such a situation: “I have no plans to die yet”, “I am young and in good health”, “My spouse will be able to take care of the boys “,” my parents can help “, or a somewhat cruel but quite common also,” no one is going to get rich on my account, nor is someone else going to come to enjoy the benefits of my death … “.
All of these reasons are the result of ignorance of the true reason for life insurance or its value. Unlike most insurance that helps its owner recover from an event that directly affects his finances, life insurance is for the benefit not of the owner of the insurance, but of his loved ones. Many experts believe that if they are call by a different name, many people would consider them with greater interest.
Regardless of what you want to call this protection, life insurance is just that, an economic protection for loved ones and should be considered practically only when there is a need to take care of the family or the commitments that have been made. Basically, the use and reason for life insurance is to replace the product or the economic facilities that you provide within the family, such as your salary, your job, your care, etc.Think about what your family might have to deal with if you are gone, and how you could make those difficult times easier for them.
Below we review the main benefits of taking out life insurance:
1. Family financial security
Without a doubt, this is one of the main benefits of life insurance .
Our family is our strongest point and at the same time our Achilles heel. Your happiness and well-being are our main goals. And knowing that if we are not, or cannot continue to take care of it, they will be covered, provides great peace of mind.
By contracting your policy you can guarantee a better economic future for your family , since this way you are guaranteeing their well-being and safety in the event that you are absent.
2. Payment of debts
In almost all the families of our country, there is some associated debt. Be it a mortgage or a loan. If income is lost, paying off debts is very difficult and can become a real headache. For this reason, life insurance offers coverage in the event of death or suffering a disability that does not allow us to continue carrying out the exercise of our work.
With the compensation paid by the insurer , the debts can be meet. Or at least reduce the amounts of these if the insured capital contracted does not cover the entirety. Thus, allowing the rest of the monthly income that is received in the family nucleus to be fully dedicated to maintaining the same lifestyle that was had.
3. Coverage for disability or illness
But, in addition, the benefits of taking out life insurance go beyond covering and protecting our family. Since with the hiring we will be protecting ourselves, the policyholder, in the event of suffering a disability or illness that is specified in our policy . If it were the case, the coverage would go through facing the related expenses that could arise if necessary. As well as the payment of the compensation that is the contract.
4. Neither liens nor taxes
In the event of the death of the insured, the payment of the capital by the insurer as compensation is not subject to or subject to Inheritance and Gift Tax..
This means that inheritance and life insurance are completely independent. Therefore, even if certain debts are associate with the inheritance, under no circumstances could anyone seize the amount of the life insurance compensation. And, of course, no inheritance tax would apply to you either. Thus being entirely in favor of the designated beneficiaries.
5. Designation of beneficiaries
Among the benefits of taking out life insurance, it should be keep in mind that it is the policyholder who decides who or who they want to designate as beneficiaries.
In this way, the compensation is not subject to inheritance or legitimate and, therefore, the beneficiaries will receive the full amount of compensation without prejudice to the fact that the family or successors can claim anything.
6. Life insurance for mortgage amortization
When we acquire a mortgage we are concerned about the term of years to come in which we will have to face the monthly payments. By contracting a life insurance in which the mortgage payment is covered in the event of disability or death, we will be guaranteeing that if necessary the amount will be used to cover the pending amount of the operation.
In addition, another benefit is that, when the annual income statement is presented , it will be possible to deduct the cost of the policy in the section on real estate capital performance.
7. Self-employed
A great advantage of life insurance , for the self-employed, is that they can benefit from a deduction of 500 euros in the premiums they have paid annually for their policy.
8. Modifications
The life insurance are very flexible and fully customizable to the needs of the policyholder throughout his life.
At each stage we go through, our needs keep changing and changing. It is not the same to be alone, without a life insurance for parents on us, than to be a parent with dependent children. Therefore, the flexibility of our policies allows us to adapt the coverage as time goes by. In order to be able to count on those that are really necessary at all times.
📌 You want more information about the types of existing insurance. Enter: What types of life insurance are there?
At Aegon Seguros we always ensure the tranquility, safety and well-being of our clients. Our life insurance is tailor to the particular needs of each policyholder to ensure that everything is well cover.
Also Read :How to Implement Digital Marketing For Manufacturers?
For this reason, we put ourselves at your entire disposal to be able to solve all your doubts and guide you so that you can get exactly what you are looking for. So, don’t hesitate and get in touch with us!
If you are convince that this article is useful, then share it on your social media like Facebook! So your friends and family can enjoy all the benefits of taking out life insurance .
