One of the consequences that pandemic has brought with him is the great economic crisis due to the closure of numerous establishments and businesses, most of them family members, and this harsh reality has revealed the needs that arise when one or more family members stay unemployed.
Let’s take this as an example, but throughout life you go through various difficulties such as suffer serious illness or death. In order not to find ourselves helpless in the face of these events, one of the options that is increasingly valued is to have a life insurance. In fact, a 39% of consumers affirm that will take out life insurance in the next 6-9 months, as revealed by data from a GlobalData survey. And it is that the pandemic has awakened the need to have economic coverage in an unforeseen situation.
Therefore, the life insurance of Sabadell, Life Care, contributes tranquility thanks to the fact that it covers the risks of death and of absolute permanent disability (IPA), either by accident or illness, thus protecting loved ones. Life Care adapts to the age and the particular family situation. Thus, each client can enjoy a complete offer for their life insurance, competitive and adapted to your profile.
It should be noted that life insurance is not an additional expense per month that we do not usually make use of, if not that it is a armor for our family. Life insurance provides solutions and help in emotionally very difficult moments, either due to concern about our health status or the loss of a loved one. Furthermore, at that tragic moment in which the epidemic was excluded by policy, Banco Sabadell’s life insurance did not apply (nor will it apply in the future) this exclusion to its clients. All your life insurances have Covid-19 coverage incorporated so that no customer is left unprotected because of this disease.
In turn, Life Care covers unlimited medical consultations, to proven diagnoses, in the case of wanting to request a second medical opinion, and personalized advice on nutrition, allergies and infant feeding.
Absolute disability coverage
According to the study by the Fundación Mutua de Propietarios, in Spain there are 2.5 million people with reduced mobility and 74% of them, that is 1.8 million, need help to be able to leave their homes, and most of them get it from friends and family. And another very relevant data is that 100,000 people with reduced mobility in our country never leave home because they do not have an elevator or help.
Normally, when talking about life insurance we have in mind the death coverage. It is important to note that Life Care also includes coverage for absolute and permanent disability that can affect the insured himself and that in most cases, in addition to assuming a income reduction, supposes an increase of expenses.
Life insurance is a guarantee that the family receives compensation in the event of a serious situation. It is not subject to any financial market or profitability conditions. With life insurance we are guaranteeing a certain amount, which we possibly do not have at the present time and which may be necessary in a serious situation.
Life insurance and mortgage
Each year, about 6,500 families each year face the difficult situation of suffering a death or a serious illness that compromises their ability to meet the payment of the mortgage loan. So that the risk covered by these insurances, that is to say that a death or disability occurs when There is a mortgage left to pay, it happens to about 2,500 people.
If that happens, the difference between having or not having life insurance is very substantial. If one is not available, in addition to how painful the situation is, the family economy suffers notably because in the household stops entering the income generated by the deceased person. A) Yes, life insurance pay off 4,700 mortgages per year in families where the death of one of the holders occurs.
In many cases, a survivor’s salary is not enough to pay off the loan and all of the family’s expenses. Otherwise, if you have life insurance, the situation is quite different. The insurance company is in charge of facing the outstanding capital of the mortgage, with which the family can cope much better with the loss of income of the deceased person or the reduction of the income contributed by the person who has been disabled.
What is Life Care Woman?
Banco Sabadell has «Life Care Mujer», a life insurance with a special sensitivity to serious diseases, which helps and supports women at the time of diagnosis of the disease, such as a cancer of the breast, ovaries, or uterus, among others, with an economic endowment (up to 70,000 euros). This allows patients who are receiving cancer treatment to focus only on this very important goal of their life.
In addition, the contracting of this product will help the research field, since Banco Sabadell will donate 3 euros to cancer research for each “Life Care Woman contracted” insurance.
It is important to note that, according to the report “Impact of the covis-19 pandemic in people affected by cancer in Spain”, prepared by the AECC, people with cancer who suffered a severe economic impact (job loss) in the first months of the pandemic, they had not yet recovered at the end of last year. And their access to the benefits or aid they need has been diminished.
In addition, according to this same study, the diagnoses of cancer typical of women occur at earlier ages, therefore, with a long working life ahead. In addition, women are employed in the sectors most affected by the drop in demand and by being the object of a high presence in temporary and part-time employment.
These economic difficulties lead to new ones such as, for example, the not having a payroll due to abandonment of a job to receive treatment, the person affected by cancer cannot rent a home, which generates a extremely precarious situation and makes their economic recovery even more difficult.
For this reason, Life Care Mujer is a product that seeks to help and support clients at the time of detecting the disease with the aim of minimize the economic and psychological impact that the oncological process entails.
In fact, one must be aware that there is a time during the illness when the patient I may temporarily stop working to focus on treatment or decide to have private treatment or even have a cosmetic operation after your treatment. Faced with these various circumstances, Life Care Mujer advances a financial allowance at the time of the detection of gynecological cancer, so that the patient can use it in those incidental expenses decide.