This product type allows people to recover from an event directly affecting their economy.
Although the pandemic caused a lot of damage in general terms, globally, it also taught some things of great value, such as the importance of protecting life and heritage. It was clear that financial planning and accepting the existence of risks can be the lifelines that allow us to face unexpected moments without affecting individuals’ and families’ quality of life and tranquillity.Why is it worth investing life insurance?
Hence the importance of investing in life insurance since this is a financial instrument that helps reduce economic uncertainty about the future. It is a fundamental ally since, through an insurance policy (short, medium, and long term), it is possible to mitigate the impacts that can occur on the assets of people and their families from situations such as death or total and permanent disability that are rarely contemplated.
The benefit is high when you buy life insurance.
“This type of product allows people to recover from an event that directly affects their economy; in addition, in case of death, the beneficiaries have sufficient funds for funeral expenses, which allows their children to continue their studies, and it guarantees the beneficiaries’ well-being and quality of life with all the economic implications that this means,” says Carlos Sánchez, president of BMI Seguros Colombia.
This type of insurance covers the protection needs of people according to the stage of life in which they are. Most provide insurance against the risk of death, and some also provide ancillary advantages like capital growth during the insured’s contracted period.
To take out life insurance, people can apply for it through their insurance agent or by contacting the insurer directly. The company will assess your insurance application after you choose a product. After approval, the insured can choose annual, semi-annual, quarterly, or monthly payments.
WHAT SHOULD YOU CONSIDER WHEN CHOOSING INSURANCE?
- It is important to evaluate the coverage, the validity period, and the insured value of the contract you plan to enter into.
- Consider the objective of protection according to the moment of life in which the person is.
- Protect yourself from death and from future pandemics by saving money.