Taking out life insurance demonstrates the care you have especially for your family. Family life insurance, on the other hand, even more so, reflects this zeal in the event of an unexpected absence on the part of the insured.
This type of insurance further consolidates the solutions for the protection of those you want to protect. In fact, it expands the scope of individual life insurance for the spouse and extends protection for the beneficiaries, as it offers advantages for the insured and for the family.
Read on and discover what family life insurance is and how it works.
What is family life insurance?
When you take out life insurance, the intention is to guarantee support for your loved ones in such a difficult time, such as an unexpected departure. Family life insurance extends this protection by extending part of the contracted coverage to the spouse.
In this way, the whole family is protected (the spouse as beneficiary and insured), and the children, even more supported. This means that they can count on protection in the event of the sudden absence of either parent.
Family life insurance, in addition to offering support in situations of accidental death and permanent disability , allows the policy to be complemented with additional coverage. In this way, the guaranteed protection is extended, offering even more peace of mind for the whole family.
What types of coverage does it offer?
The coverage of a family life insurance is perfectly adjusted to the real needs of the insured, so that exactly what you need can be hired. Thus, from basic coverage, such as natural or accidental death and disability, to daily allowances for temporary incapacity, there are several possibilities.
Accidental death
In general, the coverage offered in the event of accidental death is always present in life insurance. However, it is still possible to contract double accidental death coverage, which offers twice the amount of compensation for this cause.
Death from any cause
This coverage supports the beneficiary in the event of the insured’s death from any cause, which allows for even greater peace of mind. Thus, whether due to an accident or due to natural causes, the payment of compensation will guarante to the indicated beneficiaries.
Permanent disability by accident
In the same way as accidental death. Accidental permanent disability is also cover from family life insurance. In this way, the insurer. In this case, will guarantee payment in the amount defined in the insurance policy.
Daily for temporary incapacity
One of the additional coverages that can add to family life insurance is the payment of per diems. When the insured person becomes temporarily incapable of carrying out his/her professional activities. The amount to be paid is what is defined in the contract.
Special anticipation for illness
This coverage allows compensation to be received when the insured has an irreversible clinical condition, but is still alive. It is, therefore, the payment of insurance compensation in cases where the insured is in the terminal phase of some diseases.
Medical, hospital and dental expenses
This additional coverage is also available for purchase in the event of an accident covered by life insurance. Thus, it is possible to guarantee the reimbursement of treatment expenses after and as a result of the accident.
What are the benefits of family life insurance?
The option of taking out family life insurance. Among other modalities, is easy to adopt, as it offers advantages for everyone. Here are the main reasons why you should choose this insurance.
Peace of mind for policyholders
The tranquility provided by the certainty of support for loved ones in the event of an almost always unexpected departure is priceless.
Financial protection for the family
Family life insurance extends the financial protection needed to deal with the unexpected to the family. For this reason, it is an investment (and should consider as such) for family members and not a simple product purchased.
Possibility of use in life
Contrary to what many people think, life insurance can be enjoyed by the insured, that is, still in life . Thus, if he suffers from a serious illness or the experience of an accident that prevents him from maintaining his activities, he will have financial support to continue with his family.
Insurance payment out of inventory
In the event of the absence of the insured, the payment of the indemnity of the family life insurance will not compose the inventory. In this way, it is directly and fully paid to the beneficiaries indicated in the policy. Regardless of the procedures and surveys relevant to the preparation of the insured’s inventory.
Good value for money
Family life insurance is cost-effective when considering the benefits it offers. Your insurance broker will able to guide and show you the best and most affordable options available on the market. So be sure to consult an experienced broker.
