Financial protection from good life insurance.
Do you plan your future and that of your family members? No, we’re not talking about new jobs or retirement funds. But how would the situation be in an eventual fatality that happened to you?
It is important to consider these issues to plan a safe environment for your family, ensuring financial protection not only in the event of death but especially in situations such as serious illness and disability.
Therefore, we are going to show that it is really worth having life insurance and we are going to detail the benefits of this important protection. Good reading!
How does this financial protection work?
In life insurance, you take out a policy and pay a monthly amount on it. In case of death, serious illness, accident, or disability, the beneficiaries receive an amount (stipulated in the document) that helps in the financial protection of those involved.
What are the benefits of financial protection?
Taking out life insurance can bring a number of benefits to your family and even yourself. We’ll show you the main ones below.
Financial protection for the family
One of the main advantages of life insurance that lead to hiring is the possibility of generating financial protection for your family in case of accidents or serious problems such as serious illness or disability. Imagine that you are one of the providers of your residence and eventually a fatality occurs, for example.
Until your family can adapt to this new scenario, it’s important to ensure you have a way to deal with the situation. Therefore, life insurance provides a value that allows you to protect yourself from possible difficulties.
More tranquility
It will be possible to be more relaxed in everyday life knowing that your family members will not experience problems in eventual accidents or fatalities. This is important when the person works with activities that involve hazards in their practices, for example.
That way, you can work more peacefully — which minimizes the chances of accidents, as you’ll be less stressed and more focused on what you’re doing.
Critical illness financial protection coverage
Life insurance may also contain coverage for serious illnesses that lead to time off work. Imagine that you have recently started a job and still do not have the necessary grace period to apply for sickness benefits: with life insurance, it is possible to call the insurance company and receive the policy value to be able to maintain it until your recovery.
Financial protection in case of disability
Another point that can generate financial difficulties in cases of partial or total disability. As we know, the period of expertise and retirement release in this modality can be lengthy and in many cases the value is insufficient.
With this, when the insurance is triggered, you can have a value in hand to guarantee your own financial protection and that of your family members, until everyone can restructure and resolve the issue.
In the case of total disability, the insurance serves to guarantee financial resources for subsistence without being totally dependent on third parties and paying for food, a caregiver, a nurse, continuous medication, and hospital structure in the residence.
Temporary Disability Daily (DIT)
Coverage for Temporary Disability Allowance is a guarantee that keeps your earnings in case an unforeseen event takes you away from work. Daily rates are paid according to the contracted amount. And an important guarantee for you to honor. Your financial commitments with the loss of temporary income.
When to do your financial protection with a life insurance policy?
But when is it necessary to opt for life insurance anyway? Essentially, it is important to join this service when you start your professional life, that is. When the income you earn somehow influences your livelihood or that of your family members.
This protection is even essential when you have children. It guarantees livelihood and education. This planning is essential to not drop the children’s standard of living and study.
It is important to opt for this protection before the onset of a serious illness. Pre-existing serious illnesses are illnesses acquired before the interest in contracting protection and make acceptance by the insurer unfeasible.
The age factor also needs to be considered. There is an age limit for accepting protection. Therefore, it is important to choose as soon as possible. So as not to run the risk of not being accepted due to age above the limit.
Therefore, in cases of problems. It is possible to guarantee a respite for yourself and those. Who depends directly or indirectly on your income?
Even if you are not the sole provider of the household. It can generate a significant blow to the family budget if you need to stop working. Therefore, it is worth having life insurance to ensure more peace of mind in your day-to-day life and protect your loved ones who depend on you.
Thanks for reading this article by ExtNext, hope you will learn something about the benefits of life insurance financial protection.
