What is a life insurance?
This is an insurance where an amount is paid in the event of death. With a term life insurance you prevent your surviving relatives from getting into financial trouble if you die.
Will your partner or family be left with a mortgage that they cannot actually pay when you die? And can the children's school or normal living expenses still be paid?
Suppose a family where the husband is the breadwinner in the house and the wife works part-time or takes care of the children. By taking out a life insurance policy for him, an amount is paid out in the event of his death. This allows the mortgage and / or other costs to be paid.
Life insurance pays out in the event of death due to natural causes, illness (regardless of illness) or accident (in traffic or another accident).
Can I transfer my existing life insurance?
Do you already have a life insurance policy with another insurer, but are you unsure whether you may be paying too much? Then let us see if we can offer you a lower premium. You can cancel a life insurance policy every year. After all, no capital or piggy bank is built up, the premium that you pay monthly is solely for the risk that you die.
Depending on the insurer, the term life insurance policies have an age limit between 65 and 80 years. This means that the insurance will stop when you reach the final age. In Spain, it is assumed that between the age of 65 and 80 you are more or less debt-free (or have a house with a lot of equity) and you no longer have children living at home.
In some cases you will need to complete a health certificate or undergo a medical examination. The insurer arranges a medical examination and also pays the costs for this.