You can never stress enough how important a life insurance policy for peace and a family's financial future. Millions of people who can pay, lack of it in this country, do not know how many risks and uncertainties expose their children and their spouses in the event that, by an unexpected circumstance, death to the person providing basic household income .
"If you are the main source of income for your family or someone financially dependent on you, you need the protection of life insurance," says the specialist Elianne E. Gonzalez, spokesman for the Insurance Information Institute (III). "When you compare the level of protection you are receiving, today prices are very reasonable premiums," said the expert. The two main types of life insurance available are term insurance (term insurance) and permanent insurance (whole life insurance), and it is important that if you do not know, you are informed of their basic characteristics.
- Term Life Insurance. It is the simplest type of life insurance. The policy makes a payment when the insured person dies during the period or term of life of the policy, which can range from one to 30 years. The premiums for term policies are now lower than ever, as people are living together longer and are healthier.
If you consider buying a term insurance policy of short duration (one that lasts less than 10 years), look for one that offers a guaranteed renewal (renewal guarantee), as well, at the end of the term of the policy, you have the right to renew without need to submit to a new physical examination and medical or provide evidence of being able to make sure. For the new policy will have to pay a new premium for your current age.
- Permanent life insurance. Usually any form of life insurance that is not temporary. Generally these types of insurance savings accumulate. That is the case of ordinary life insurance, universal life insurance, variable life and variable universal life insurance. This type of policy covers permanent-ie-pay benefits for death, no matter when it happens, even if you live 100 years, while premium pay of course. The price premium of such insurance has also remained unchanged in recent years.
"Look for a policy that meets their needs," said Eliane Gonzalez. "And yes there are ways to save on life insurance-which does not always mean that your premiums will be the most economical from the beginning-".