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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