Term life insurance
More and more people understand the need to protect their family in case of an accident. Therefore, life insurance is definitely worth considering.
Term life insurance in Spain is an insurance product that, for a premium, provides financial protection in the event of events such as death or disability of the policyholder.
The aim is to provide assistance to family members and relatives if one of these events occurs. Term life insurance makes most sense when taken out by the person who brings the main income into the household.
Tailored to your needs
What coverages are available with term life insurance?
- Death
- The insurance pays out the guaranteed capital in the event of the death of the insured person
- Permanent disability
- The guaranteed capital is paid out in the event of the insured person’s absolute incapacity for work
- Online will
- If you want your will to be in good hands, take advantage of a free service to make your will online
- Digital life
- If you die and your loved ones want to close your social media accounts, a team of specialists will do it for you
- Telephone advice in the event of death
- If you die and your loved ones do not know what to do, they will be advised on this by specialists
- Advice and administration of inheritances
- If your relatives have to settle your inheritance in the event of your death, the insurance company offers you permanent legal assistance by telephone
- Medical advice
- If you have doubts about a medicine prescribed to you, for example, you can ask a specialist for more information
- Nutritional advice
- If you want to take care of your diet, you can ask for advice from nutrition experts
- Loans and mortgages
- Protect your investments with annually updated and decreasing capital
So-called term life insurance policies insure a lump sum or income in the event of the death of the insured. These insurance products guarantee payment of the agreed benefit to the beneficiaries named in the policy if the insured person dies before the policy expires. If the insured person is alive when the contract expires, it is terminated without any consideration for the insurer.
Anyone thinking about life insurance is dealing with a situation that no one would like to experience. Thinking about one’s own mortality is very difficult, but may be necessary for the sake of the family.
This is exactly the task of a life insurance policy:
to provide for the dependents of the person who has taken out the policy.
Unlike other insurance policies that protect the insured, life insurance protects the interests and future of those closest to you.
Further descriptions of the insurance modalities:
What needs will my family have in the future?
To make a realistic calculation, the first thing you need is a reference or starting point. For this, we recommend calculating the annual expenses of the last five years.
In addition, any outstanding debts must be calculated: Mortgages, loans, etc.
Future expenses can also be included. These are costs that are not yet due but are foreseeable. For example, this could be the cost of the child’s first year of studies next year.
What income will the survivors have when I am no longer around?
At this point in the analysis, it is important to consider the family’s sources of income that are independent of those of the insured.
Do not forget resources that are an exceptional source of income, such as rent for a flat. Also add any social benefits received: widow’s or widower’s pension, orphan’s pension, etc.
Is this income sufficient?
If the sum of this income is not sufficient, the answer to this question is clear:
You and your family need life insurance.
With term life insurance, you can sleep soundly because the balance is maintained.
What benefits are insured?
Life insurance cover
The main guarantee of a life insurance policy is the coverage of the natural death of the insured person.
Other coverages can be included in addition:
Permanent and absolute disability
In the event of total disability, the agreed capital is paid out to the insured person.
Total and permanent disability (occupational disability)
In this case, the agreed capital is paid out to the insured person.
Double capital in the event of an accident
In the event of accidental death or disability, the insured person receives double the capital sum insured in the main guarantee.
Triple capital in the event of a traffic accident
In the event of death or disability as a result of a traffic accident, the insured person receives three times the capital sum insured in the main guarantee.
Serious illness
If the insured person is diagnosed with a specific illness, the company will pay out the insured capital.
Insurance options
- Death
- Death by accident
- Death due to traffic accident
- Permanent and absolute disability (PPI)
- Permanent and absolute disability due to an accident
- Permanent and absolute incapacity due to a traffic accident
- Permanent and total incapacity (IPT)
- Serious illnesses
- Early death benefit in the event of a terminal illness with a life expectancy of less than 12 months.
- Terminal illness with a life expectancy of less than 12 months
- Additional lump sum in case of joint death of the insured and his/her spouse or civil partner as a result of road accident leaving joint children below 18 years of age.
Additional services:
- Online will for you and your spouse or unmarried partner
- Second medical opinion
- 24-hour telephone for medical advice
- Telephone nutritional
- Advice VIP services, with personal assistant
- Digital end-of-life management
- Telephone advice in the event of death
- Advice and administration of inheritances
Modality of tariff:
- Annually renewable tariff
- Single payment
