Life insurance is an essential product for everyone but, despite its great advantages, it is still a great unknown to many. Thanks to life insurance, we protect not only the well-being of those who love ourselves and our assets, but there are a whole series of myths that often make us ignore its advantages. We reveal all these myths so that you know all that life insurance can do for you.
Uncovered Life Insurance: a product for everyone
The first great myth is to consider that life insurance is only a product for those with high incomes or high assets . Nothing is further from reality. For very little a month, you can have insurance with the best coverage. And, this is precisely the second great myth , with this small contribution you can receive the necessary capital to ensure the welfare of those you love most and your own.
Another third myth is to believe that life insurance only covers death, whether due to accident or illness; that is, it can only benefit others. It is true that it is one of the most important coverage, insofar as it gives capital to the beneficiaries or heirs of the policyholder, but it is not the only one. The policyholder can also benefit from their coverage without having died in different circumstances. The most common, relates to another of the great myths, think that does not cover disability . Life insurance such as Good Finance will have the most complete coverage in case of disability and others more interesting as they are in case of diagnosing breast cancer or suffering from cardiovascular disease.
Moreover, the insured may also benefit from the added services of having life insurance with extensive additional coverage that helps you to have different important administrative or management issues planned if any of the cases covered by life insurance occur.
And all this, from a few small payments. And is that another of our myths is to believe that risk life insurance is like a savings product in which we will only receive what we contribute. On the contrary, in case of any of the risks covered by the insurance, we will receive a sufficient amount to cover all your needs and those you love most.
One of the big groups of false beliefs around life insurance is regarding their coverage. For example, the seventh myth of our list is to affirm that suicide is excluded from the coverage of our insurance. Nothing could be further from the truth, with Good Finance insurance, suicide is considered as any other form of death and, therefore, if it occurs, the beneficiaries will receive 100% of the insured amounts.
And, one of the great advantages is that life insurance is all the possibilities offered to the insured and their beneficiaries. If you think that by having life insurance linked to the mortgage you already have enough coverage, it is not so, it is another false myth . The insurance linked to the mortgage, the only thing it does is, in the event of the death of one of the holders, to satisfy the financial entity with the outstanding capital, nothing more. On the contrary, with life insurance with adequate capital to your needs you can not only pay the outstanding debt of your mortgage, but also cover the rest of your needs.
Adapt your insurance to your needs
And, life insurance is a “live” product. It is not a product for life , but you can unsubscribe it or, most importantly, modify it and adapt it to your needs . The requirements are very different if you have children of school age or debts to buy a home if you already have a stable family situation and more financially relaxed.
These changes should not only be made in capital, they should also focus on other aspects such as the additional coverage that insurance can offer. This is the last of our myths, to believe that all insurances are equal. Analyze and value everything that offers additional coverage such as Good Finance insurance to have the product that best suits your needs and those of your loved ones.