Economic Life Insurance : It is normal to ask ourselves what would happen if an accident took away our life or the possibility of working, and how we could cope with that situation.
Currently with so many options and types of insurance we can cover certain eventualities that we do not expect.
Economic Life Insurance, which has among its objectives, cover death, disability, bodily injury suffered by the insured person as a result of an accident or a serious illness, can be purchased from $ 35 to $ 100 per month.
This is stated by the different insurers in the country. For example, Seguros Sucre offers coverage of $ 100,000, canceling $ 70 per month, depending on the time required by the client. The cheapest are $ 50, $ 55 and $ 65, these cover up to $ 75,000.
According to Alexander Bermudez, head of the Life Unit of Seguros Sucre, some citizens -in general- apply for individual insurance until retirement.
On the other hand, Byron Carrion, the individual commercial manager of Nova Ecuador, indicates that there are family group plans, where the funeral assistance is added. For five people the minimum monthly is $ 35.36 with coverage of $ 30,000 and for 8 members of $ 37.70 with the same margin.
He adds that, in addition, they include medical and hospital expenses in trips like ambulance in case of accident, illness and others.
Economic Life Insurance
Carrion states that the time of permanence of the life policy is decided by the client, whose age to acquire it is from 18 to 65 years. Highlight that the maximum permanence is 70 years.
These and other companies provide citizens with the possibility of hiring an economic life insurance to face various eventualities, through mechanisms that ensure the continuity of the standard of living of family members.
Types and forms of payment
Commercial advisor Carlos Barreiro states that there are different types of health insurance
Term life insurance: They are contracted for a specific insured amount and can be for 5, 10, 15, 20 years.
Universal life insurance: They contain an account in the policy, in which you can accumulate money and over the years. When canceling the policy, according to Barreiro, the insured (obviously in case of not dying) can withdraw his accumulated money. Also, inform that some plans offer retirement.
Temporary: This service only remains active for a certain number of years. It has the advantage of being cheaper, since the premium (value paid annually for the duration of the policy) is calculated based on the probability that the insured dies during the term of the insurance. This includes the corporate plans, whose process is carried out by the company in which it works and is also temporary.
Regarding the forms of payment , the individual commercial manager of Nova Ecuador, points out that there are various facilities such as canceling it through direct debit from a savings account, current account or credit card of any banking institution or cooperative. Other ways that insurers accept is the traditional way of directly canceling the company.
Finally, the adviser Barreiro advises analyzing the needs, comparing the offer of coverage and thus choosing the most appropriate one. “The main concept of life insurance is to protect the economic dependents of a family if the one that produces or generates money is missing, therefore, if the father or mother, or both are financially supporting the household
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