What kind or form of life insurance is best?

Most life insurance marketed are of the type or Temporary Annual Renewable mode (TAR), and the reason is the price since the short term is more favorable. But like the other forms of life insurance that exist, the TAR has its advantages and disadvantages. In this article, we will thresh the pros and cons of each type of life insurance, so that when you hire, values addition to price, other equally or more important concepts:

constant or fixed capital

It is kept constant throughout the duration of insurance the insured capital. In the Temporary Annual Renewable mode (TAR), if we maintain fixed or constant capital, we will reduce the price increase in the following annuities.

Capital Decreasing

It applies only in the form of Life Amortization, and that capital is decreased or amortized at the same rate as the mortgage loan (hence the product name "amortization").

Prima / constant or fixed price

It is the most important to consider from our point of view parameter, even more than the price. Because with a constant premium you avoid future surprises price increase in insurance renewal, with the danger that entails, as could be the case, the insured had contracted a serious disease, and if to keep insured, not would have no choice but to accept the rise of renewal, since with a serious illness would accept no other company hiring a life insurance, introducing the "pre-existence" of severe disease. The problem is that we can be talking about increases of up to even 50%. This happens precisely in insurance Temporary Annual Renewable mode (TAR), the best sellers. Typically, each year in the TAR raise the price of insurance around an 8 or 10%, but increases at certain ages may be even 50% as indicated above. These radical increases may be reduced in some cases making business dealings with the company a year or two, but there comes a time that no longer accept more adjustments.

lifetime duration

Does not have an expiration date or term, ie, the insurance shall remain in force until death occurs, although this originates, for instance, to 105 years.

custom duration

The conditions that offer this option calculated the cost of insurance among other variables, for the duration of the contract. Each company offers a maximum output of age for coverage of death, which the product can be up to 80 years, and all agree disability cover the maximum to 65 years.

Rescue possibility of premiums paid

It is an advantage, because if the years pass, and no longer need life insurance or financial trouble arises you, you can recover much of the premiums paid.

Real example:

    An insured hire a whole life insurance, and after 25 years for economic reasons decides to rescue.
    € 2.846,82 constant premium x 25 years = 71.170,50 € (without applying profit sharing of 25 years, which would increase the available balance).
    50.647,74 € is the maximum redemption value you can make, so you really have paid insurance for 25 years = € 71.170,50 - 20.522,76 € 50.647,74 € =

Possibility of future changes to capital or hedge

In those embodiments that allow it, the changes are implemented using a free supplement, keeping the same contract / policy. Those procedures that do not allow it require you to hire a new life insurance with the completion of a new health questionnaire, so if at the time of wanting to make the change, do not enjoy good health and have "serious pre-existing conditions" you accept the insurance premium surcharges / fees or you deny it, two things can happen.

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7 Examples of cosmetic damage claims of coverage in home insurance

Before putting several examples of claims related to this warranty cosmetic damage in home insurance, both the continent and content, we will discuss briefly what this coverage, also called "restoration or aesthetic restoration."
Definition of cosmetic damage in the home insurance

Through this guarantee of cosmetic damage or aesthetic restoration, the expenses necessary for the aesthetic restoration of the property damaged affected by an incident covered by the guarantees of the policy are covered, where it is not possible to repair the affected part with materials identical or similar aesthetic characteristics to disaster victims, impairing the initial harmony of the whole.

Said expenses include repair or replacement of all or part of the assets affected by the incident so as not affected, using materials identical or similar to the original features.
capitals

Typically cover from 1,200 € to 6,000 €, for larger amounts, you must obtain permission from the company. There are companies that limit a% of total content and a maximum.
modalities

It can cover both the continent and content, but it is usual that most companies only cover cosmetic damages in home insurance, to the mainland.

Although some policies only cover the continent, also they include kitchen furniture, though content.
Limitations and exclusions (the famous and dreaded "fine print")

    Limitation stays: Limited to stay affected or the entire house. Most coverage limits only stay affected.
    Typical exclusions: sanitary ware (some companies only by seniority, for example, if over 25 years), wardrobes, glass, etc ...
    Exclusions in other coverages: as breakages, all risks or accidental event, etc ...
    Definition of stay: the halls are not considered stays.

real examples that have occurred in our brokerage clients

1. Partial Water damages in kitchen furniture.

A burst pipe in the kitchen, causing partial damage to furniture, bufándose and blackening the wood by moisture. On the date, the claim is no longer manufactured in the market the same wood kitchen furniture. all furniture, both the affected part, as unaffected, having contracted cover cosmetic damages in home insurance content is changed.

2. Boquete support wall mounting TV in bedroom

Installing a wall bracket for a television in a bedroom, while drilling, a hole is created in the wall of considerable dimensions. Through accidental warranty, any risk to the continent covers the repair such damage. It turns out that when painting the affected, being of a different white wall, is not aesthetically well with the rest of adjoining walls since it has not achieved the same color. Through ensuring aesthetic damage to the mainland home insurance, we cover paint the other walls, to maintain the aesthetic harmony of the room.

3. partially damaged by fire in dining room door

a small fire that among other goods damages the dining room door occurs. For the guarantee of fire, replace the affected covers the door. It turns out that the doors are old and can not get an identical, so it is replaced by one of the similar characteristics. The problem is that the aesthetic harmony is broken, since the doors of other rooms, are identical to the damaged, but in this case cover cosmetic damages in home insurance to the mainland does not cover customer since it has limiting cover only stay affected.

4. Water damage to floors in bedroom

Burst water pipe located in a bedroom of the apartment. Through the guarantee of water damage is changed the park from the affected area, but the new flooring installed is not the same as that already existed, as this is very old, so it would not look good aesthetically. are requested to apply cosmetic damage coverage in home insurance to the mainland, so that the new flooring installed throughout the room. As the client has a home insurance that allows you to apply cosmetic damage to the entire house, without limiting the coverage to stay affected, it has covered up the contracted limit, which is enough to be 2,500 €, which will change the entire park of the house.

5. Partial Fire affecting a module sofa in the dining room

Because of a partial fire damaged a sofa. By covering fire, we indemnify the damage, but at the time of the incident, and is not manufactured / sold in the market, the same model of sofa, so we replenished another similar but that could break the aesthetic harmony, and that part of the damaged sofa have two more sofas, having a set of three sofas in total, the same model. In order to change all sofas, both affected and non-affected, we have contracted to cover cosmetic damages in home insurance content, we change the whole cover sofa set, up to the limit stipulated.

6. Break bidet

a bathroom bidet housing breaks and breakage warranty, the customer has covered have it replaced by a new bidet. But that model is no longer manufactured so they have to put one of the similar characteristics. Through the guarantee of cosmetic damage in the home insurance to the mainland, it is also covered replace him toilet (WC).

7. Water damage in kitchen

A burst pipe in the kitchen, causing partial damage to the floor of the same. Raise the affected soil and replace it with new soil is covered by the guarantee of water damage, but in the absence of the same soil type on the market, would have installed a similar ground to that we had. The result would be aesthetically pleasing. Here comes in ensuring aesthetic damage to the home insurance to the continent, where all the soil, both the affected and the unaffected would rise, and new floor would be installed to the limit stipulated to restore aesthetic harmony.

To know what they cover the most important companies in guaranteeing cosmetic damage in home insurance, see our full comparison of home insurance.

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What types of life insurance there

Always we approached them the news about the different products that are on the market, and we sometimes forget that among such a variety of insurance, one is lost and not fully understand what kind of insurance we speak. So we will begin to remember the different types of insurance that exist, continue for life insurance.

By life insurance beneficiaries usually, dependent members of the insured may prevent the loss of income that this provided for them. Life insurance becomes part of the inheritance.

Can you return the receipt of insurance?

Life insurance products are very recognizable by the ordinary user. It is an insurance product that has accompanied us for a very long time ago, and, unlike insurance models, a product known for its presence in the insurance market, but at the same time, on which we do not know many things basic. When we want to hire a life insurance is interesting that we acquire at least basic knowledge about this type of product.

This basic knowledge should not only refer to what is and represents a life insurance, but also the different types of insurance that can be found in the market, its operation, and of course the model to which they relate in terms of recruitment , raw, etcetera.

Come on, first, to review the basics about what is and what it means life insurance, as well as basic questions about its operation.

What to consider before hiring a life insurance

What is an insurance of life

Life insurance is a personal insurance that comes to provide coverage on the risk of death of the insured, in the event of death or survival termination or expiration of the policy contracted in the case of life.

The basic parts that distinguish those involved in this insurance are insured, that is who gets the coverage and the pivots insurance, the policyholder is the undersigned insurance and is responsible for payment of the premium and, if death, need the consent of the insured for the insurance, and finally the recipient which receives the compensation that the insurance company pays if given the conditions of life or death as been hired.

It is important to note that the policy of insurance with a duration that is greater than six months may terminate this insurance within 15 days after the insurer gives the policy, the resolutions must be submitted in writing generally give coverage risk by the insurer from that date, in this case finding reimburse the premiums that had given satisfied to date.

In the case of insurance for death, the insurer solves discharge its obligation when the death of the insured occurs as circumstances expressly set out in the policies, provides the insured in general, intentionally caused by the beneficiary obviously eliminates this provision of the contract. Unless otherwise specified conditions suicide risk of the insured is covered for one year of signing the contract. Policies must expressly include redemption rights, and it can exercise from the policyholder has paid the first two installments of premiums This right of redemption is not applicable to insurance policies term life for cases of death and life insurance for life case.

Types of Life Insurance 

Temporary safe

The insurer is obliged by the insurance contract to pay a specified sum if the insured dies within a specified period of time, from a few days (a trip), several years (10 to 20) or until a certain age (65 or 75 years, according to the insurer). But if the insured does not suffer any harm during the period, the insurance company will not pay compensation.
This life insurance has the advantage of being very economical for people of young ages, but the downside is that it becomes very expensive for the elderly.

In addition, premiums, or disbursement to be made by the insured, can be:

    A growing, renewable raw: each annuity insurance varies depending on the age that is reaching the insured, according to the evolution of their mortality rate.
    A level or constant premium: where the amount has been determined that the policyholder pays in the early years a higher premium that would correspond to their age and pay less than that would apply when the passage of time insurance is more expensive.
    A declining premium: In cases where the main object is to cover the repayment of loans, the beneficiary will be the bank and the insurer covers an outstanding principal by the insured.

Whole life insurance

Here the insurer undertakes to pay a capital to the death of the insured regardless of the time of death. The consideration may be in the form of income or capital. Life insurance guarantees for life insured capital contracted. It has a high element of risk, but being certain provision also has a savings component.

The purpose of this life is to provide the family or the person named in a capital that can compensate for the loss of income due to the death of the insured, provide heirs capital that allows them to meet the expenses of transfer of property or guarantee payment of debts or mortgages without resorting to the rest of the inheritance.

Premiums, or disbursement to be made by the insured, can be:

    A lifetime bonus: paid until death
    A temporary bonus: payment of premiums is carried out for a specified period (20 or 30) but the insurance coverage extends until death occurs.

Of course, there are many different types of insurance, and we all know. But also in life insurance or associated in one way or another these are secure its own right. In this case, we will review at least three of these methods because they are the most common and presence, in some cases it has been very significant in terms of growth in recent years.

Savings insurance

Savings insurance are one of these widespread and appreciated by the saver products. They are generally safe savings cases of survival or retirement, and object obtaining capital at the end of the agreed period were marked.

The aforementioned capital consists of contributions User's profitability agreed in advance. It is a product that targets investments in the medium and long term to supplement retirement benefits or to obtain more capital deferred to future performance with the goal that the user dials.
In any case an interesting complement for those looking for such pension plans in the future, or simply for those who want to save with guarantees in a product directly associated with a life insurance product.

Mixed insurance

This is a lesser known insurance perhaps but no less interesting for profiles that may be comfortable within their coverage.
Thus the insured has to get coverage in case of death but a benefit is also ensured if survival at the age present in the contract, the first case, that of death, are the beneficiaries of the insured who perceive coverage as a benefit.

Annuities

Annuities have different models proposed, but generally, what we propose is the public capital contribution of a single premium payment for a specified period.

The annuity is therefore, proposes a payment of specific amounts from the expiration of the insurance and alive while the insured, the amount of the sales can be fixed or variable.
    The temporary income on their part and as the name suggests what we are proposing is to receive a pension predetermined in advance for a certain time.

This insurance usually associated largely to supplement pension schemes or very intended to be redeemed at the time of retirement, as they can provide an excellent complement to the pension public retirement and that the user does not lose competitiveness in their reference salary for their job performance.

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The storage rooms and home insurance

If you have storage room or garage / storage, we recommend that you check if your home insurance covers it, and above all, until capital offers you coverage.

In some insurance, storage rooms are included by default, to be seen as part of the continent, engulfing within the completion of outbuildings such as cellars, garages, and woodshed.

In others, you have to include them.

Next, we will analyze two important points to consider regarding storage and our home insurance:
Coverage limits and storage rooms in the home insurance

Most companies (not all), limit the capital of storage contents of a specific and / or a maximum% of total content, which in many cases is usually insufficient.

Even companies exist that limit a maximum intended.

The most substantial and covetable objects (for thieves), which is usually stored in the storage rooms are bicycles. In some cases, we have found customers whose bikes (stored in the attic) exceeded € 3,000.

If this is your case, and can not find a company that meets your needs assurance, we recommend that you keep your bicycle or another object of high value (jewels are excluded in storage) in your home instead of storage, or that you take out Bicycle insurance including theft coverage.

However, it must be said that there are companies, the few that do not apply any limit on storage, ie, if you have covered a content of 30,000 € in total in your home, apply the limit altogether, both for housing and for outbuildings.

Through our full comparison of home insurance, you can analyze the covered limit on storage, in 5 of the leading insurance companies in the sector.
Location of storage

The vast majority of home insurance only allows secure storage, as long as they are located in the same building / housing building the (in case of villas, within the private plot). Luckily there are companies that cover storage regardless of where they are located, obviously within reason, which is that are located at least in the same population. In these cases they allow policy reflect the exact location of storage.

many cases of people who assumed that his storage room located in another different from your home place, was covered by your home insurance are given, and when they have had an accident, such as a robbery, and have been notified to his company found a nasty surprise.

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7 Examples of cosmetic damage claims of coverage in home insurance

Before putting several examples of claims related to this warranty cosmetic damage in home insurance, both the continent and content, we will discuss briefly what this coverage, also called "restoration or aesthetic restoration."
Definition of cosmetic damage in the home insurance

Through this guarantee of cosmetic damage or aesthetic restoration, the expenses necessary for the aesthetic restoration of the property damaged affected by an incident covered by the guarantees of the policy are covered, where it is not possible to repair the affected part with materials identical or similar aesthetic characteristics to disaster victims, impairing the initial harmony of the whole.

Said expenses include repair or replacement of all or part of the assets affected by the incident so as not affected, using materials identical or similar to the original features.

    Clarify that this guarantee is not directly applicable, ie it should be able to cover for other security (eg fire, water damage, breakages, etc ..) to make use of it.

capitals

Typically cover from 1,200 € to 6,000 €, for larger amounts, you must obtain permission from the company. There are companies that limit a% of total content and a maximum.
modalities

It can cover both the continent and content, but it is usual that most companies only cover cosmetic damages in home insurance, to the mainland.

Although some policies only cover the continent, also they include kitchen furniture, though content.
Limitations and exclusions (the famous and dreaded "fine print")

    Limitation stays: Limited to stay affected or the entire house. Most coverage limits only stay affected.
    Typical exclusions: sanitary ware (some companies only by seniority, for example, if over 25 years), wardrobes, glass, etc ...
    Exclusions in other coverages: as breakages, all risks or accidental event, etc ...
    Definition of stay: the halls are not considered stays.

real examples that have occurred in our brokerage clients

1. Partial Water damages in kitchen furniture.

A burst pipe in the kitchen, causing partial damage to furniture, bufándose and blackening the wood by moisture. On the date the claim is no longer manufactured in the market the same wood kitchen furniture. all furniture, both the affected part, as unaffected, having contracted cover cosmetic damages in home insurance content is changed.

2. Boquete support wall mounting TV in bedroom

Installing a wall bracket for a television in a bedroom, while drilling, a hole is created in the wall of considerable dimensions. Through accidental warranty, any risk to the continent covers the repair such damage. It turns out that when painting the affected, being of a different white wall, is not aesthetically well with the rest of adjoining walls since it has not achieved the same color. Through ensuring aesthetic damage to the mainland home insurance, we cover paint the other walls, to maintain the aesthetic harmony of the room.

3. partially damaged by fire in dining room door

a small fire that among other goods damages the dining room door occurs. For the guarantee of fire, replace the affected covers the door. It turns out that the doors are old and can not get an identical, so it is replaced by one of the similar characteristics. The problem is that the aesthetic harmony is broken, since the doors of other rooms, are identical to the damaged, but in this case cover cosmetic damages in home insurance to the mainland does not cover customer since it has limiting cover only stay affected.

4. Water damage to floors in bedroom

Burst water pipe located in a bedroom of the apartment. Through the guarantee of water damage is changed the park from the affected area, but the new flooring installed is not the same as that already existed, as this is very old, so it would not look good aesthetically. are requested to apply cosmetic damage coverage in home insurance to the mainland, so that the new flooring installed throughout the room. As the client has a home insurance that allows you to apply cosmetic damage to the entire house, without limiting the coverage to stay affected, it has covered up the contracted limit, which is enough to be 2,500 €, which will change the entire park of the house.

5. Partial Fire affecting a module sofa in the dining room

Because of a partial fire damaged a sofa. By covering fire, we indemnify the damage, but at the time of the incident, and is not manufactured / sold in the market, the same model of sofa, so we replenished another similar but that could break the aesthetic harmony, and that part of the damaged sofa have two more sofas, having a set of three sofas in total, the same model. In order to change all sofas, both affected and non-affected, we have contracted cover cosmetic damages in home insurance content, we change the whole cover sofa set, up to the limit stipulated.

6. Break bidet

a bathroom bidet housing breaks and breakage warranty, the customer has covered have it replaced by a new bidet. But that model is no longer manufactured so they have to put one of similar characteristics. Through the guarantee of cosmetic damage in the home insurance to the mainland, it is also covered replace him toilet (WC).

7. Water damage in kitchen

A burst pipe in the kitchen, causing partial damage to the floor of the same. Raise the affected soil and replace it with new soil is covered by the guarantee of water damage, but in the absence of the same soil type on the market, would have installed a similar ground to that we had. The result would be aesthetically pleasing. Here comes in ensuring aesthetic damage to the home insurance to the continent, where all the soil, both the affected and the unaffected would rise, and new floor would be installed to the limit stipulated to restore aesthetic harmony.

To know what they cover the most important companies in guaranteeing cosmetic damage in home insurance, see our full comparison of home insurance.

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Mobilization of Employment Pension Plan (POR), a dead end?

If you require to manage the mobilization of a Pension Plan Employment (PPE) or a Social Security Plan Business (EPSP), you want to let know this information, because most people who are involved or secured in one , ignores these conditions to mobilize or transfer its rights consolidated in the future, depending on the circumstances that occur in that time.

These requirements are stipulated in the Regulation of Plans and Pension Funds, and also in the conditions and / or regulation / own specifications Plan, which you can ask the human resources manager of your company or the union (if any depending the size of the company).

Usually, it is assumed that the only requirement that must be met in order to mobilize / transfer the PPE or EPSP is that there is no longer employment with the company behind the plan, but others must be met:
IF situations that allow the mobilization of a Pension Plan Employment (PPE) or EPSP

    The absence of employment.
    The plan is complete, ie, it has reached maturity.

This situation does not allow you to transfer / mobilize PPE or EPSP

    If you are retired or have reached the legal normal retirement age, even in the absence and working relationship, going to have beneficiary status, you would have no right to cross-mobilize.

Clarify that if there is an early retirement agreement for the purposes of PPE or EPSP, really are not retired, so if you meet other requirements you will mobilize the plan.
And you wonder why would transfer my PPE or EPSP?

    Because you've changed your company, and the former promoter of the plan (former employer), you no longer will make contributions to the plan, with the tax advantage that entails.
    The new company where you work has a PPE or more interesting EPSP.
    Because your current PPE or EPSP offers conditions uninteresting rescue and have alternatives Pension Plans Individual PPI (for individuals) or Insured Retirement Plan (PPA) that offer improvements in both profitability and forms rescue , offering a bespoke suit. It is customary for many PPE and EPSP offer specific and predetermined forms of payment, such as an obligation to rescue in the form of an annuity for retirement, which may not interest you, but of course, you have no choice.

Recommendation

Get the general conditions in the case of having an EPSP and specifications / regulations should provide a PPE to check forms rescue / recovery and you have set requirements for future mobilizations, to avoid future potential surprises.

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Life insurance: insurance of death and survival

Maybe you are trying Life Insurance, you've heard of 'Insurance of death' and 'survival insurance'. Both are used to define the two great families of policies that fall within the Life Insurance: Risk Life Insurance and Savings Insurance. Let's review the differences between these two kinds of policies.

or designation refers to that in the first case, the life insurance policy establishes compensation in case of death of the insured during the term of the contract, and the other insurance pays a benefit if the insured is still alive at maturity of the policy .

However, both options can be combined in different ways in the same policy and include coverages such as disability. There are also different types of policies survival arising in different ways to save, depending on the risk assumed by the client.

Nonlife or Life Insurance Risk

This kind of life policy guarantees insurance beneficiaries charging a capital or income in case of death of the insured. Thus, if the insured dies before the end of the contract, the beneficiaries designated in the policy receive payment of compensation, according to the conditions set out in the policy. However, if life insurance is due to expire and the insured lives, the contract is terminated without any consideration for the insurer.

Offers Life Insurance Risk among its options typically include various additional guarantees, that increase the protection of the insured, but also increase the price of the premium. The most common coverages found in Life Insurance Risk are:

    Disability: Besides the risk of death, including hedging policies provide disability compensation to the insured if they suffer some kind of disability or incapacity. In this regard, we note that there are several situations disability / incapacity that may be under the guarantee of our policy and it is important to know in detail under what circumstances our insurance protects us if we suffer this type of disaster.
    Accidents: In cases where Life Insurance incorporate this warranty, the insurer shall indemnify the insured with additional capital if the death was not due to natural causes but results from any accident. In these cases, we can also find policies that distinguish between traffic accidents and the rest, and even offering extra compensation if the accident occurred on the road.

Saving the Life Insurance: survival insurance

Such policies are usually called Life Insurance Savings and certainly are a way to ensure capital for the future that can supplement our retirement. There are different types of insurance savings, but what distinguishes this type of insurance other savings products is their beneficial tax treatment.

What defines this insurance is to guarantee beneficiaries or insured itself a benefit in the form of capital contribution or income, termination of the contract if the beneficiary is kept alive. Can be highlighted within this category, the following types:

    Insurance 'unit-linked': The policyholder assumes the investment risk of the contributions made, ie, the result of investment capital contributed to determining the life insurance.
    Guaranteed pension plans (PPA): These are individual insurance whose legal and fiscal regime is assimilated to pension plans. The main purpose of this insurance is to cover retirement, but also covers contingencies such as death, permanent disability, and dependence.
    individual systematic savings plans (PIAS): These are individual long-term savings in which the contractor receives an annual annuity if you live to a certain age established in the insurance contract. Premiums may not exceed the annual limit of 8,000 euros and the total amount of accumulated premiums should be less than 240,000 euros.
    Individual Insurance Long-Term Savings (SIALP): These are relatively new and are characterized by their special tax regime. These insurance companies offer a return on contributions should not exceed 5,000 euros per year, and investment can not be withdrawn before 5 years. Moreover, the perception is guaranteed at maturity of at least one capital equivalent to 85% of the contributions.
    Annuities: These are insurance in which the amount of the insured income is guaranteed for every year of his life, from a deadline. The rent can be tailored to family characteristics of the insured, and can be combined with additional benefits in case of death or return of contributions.

There are many options that offer such policies and that is essential to compare life insurance to find the policy that fits the needs of each client. In Turboseguros.com you can find the life insurance you need, responding to simple questionnaire proposed by the comparator.

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