Life Care It is a life protection insurance that provides compensation to the beneficiaries in the event of death or absolute permanent disability of the insured; that enables the economic resources contracted to the families and to the person who contracts the insurance in these delicate situations.
The bouquet of life is one of the most favored to receive the impact of the COVID pandemic. This is evidenced by the survey carried out by GlobalData in which the effect on their hiring is favorably assessed. Noting that “it is likely that consumers and companies feel more vulnerable to viruses and want greater protection in the form of policies with these characteristics”. From this perspective, the data in the report “Mortgage-related life insurance benefits”, Which has been prepared by the Spanish Insurance Business Association (UNESPA), ensures that “Mortgage life insurance is a decisive product to protect family assets”.
Faced with this need of society, Banco Sabadell has life insurance Life Care that provides protection against COVID so that the insured are not left unprotected because of the disease. In the same way, it provides economic protection against unforeseen and unwanted situations. For example, the possibility that many families are compromised to face the payment of the mortgage loan after suffering a serious organic incident or the death of a relative.
In this sense, the life policy helps to amortize the mortgages when the death of one of the holders occurs. “It is a type of insurance that one remembers in the most difficult moments, and that, mainly, ‘shields’ the family if the insured person dies or suffers an absolute permanent disability. But it is also an excellent tool to improve the quality of life of the insured and their family ”, he points out Jose Manuel Veiga, Director of Protection Insurance at BanSabadell Seguros.
Covers death and absolute permanent disability
The importance of contracting this life insurance stems from the different benefits that it will provide both to its holders and to more direct family members. Protection against situations of disability or death, ensuring the environment of the family unit or its flexibility to adapt it to the needs of the insured are some of the benefits that are contemplated in the Life Care. Although its main protection is that it covers the risks of death and absolute permanent disability (IPA) when they are due to illness or accident. It also has other complementary optional hiring coverage.
Other of its most relevant services are those related to healthy living, physical and emotional well-being or psychological care. In the same way that he created a new product that has a special sensitivity to serious diseases. Through your insurance Life Care Mujer, is a product that seeks to help and support patients at the time of disease diagnosis, such as breast, ovarian or uterine cancer, among others, thanks to the coverage of serious diseases, which helps to minimize the impact economic and psychological that the oncological process entails.
On the other hand, it entails other additional advantages that arise from situations linked to the economic lack of protection that can lead to the death of a loved one. How to deal with outstanding mortgage payments or expenses generated by his death: funeral service, columbarium, transfers, etc. In the same way that it is constituted in a highly efficient instrument to solve the procedure to receive the inheritance and that requires the liquidation of the Inheritance Tax in some autonomous communities.
Policy adjusted to the family environment
It is a policy that, unlike others, is tailored to suit the needs of the insured, their age and their family situation. In this sense, it incorporates a flexible system that adapts to each of their scenarios. In this way, for families with dependent children, It provides the latter with double capital coverage, in the event of simultaneous death of the spouses by accident. On the other hand, the insured without children will check how the capital is adjusted to their real needs.
Also the elasticity in its contracting conditions is another of its hallmarks since the insurance premium can be distributed on a monthly, quarterly or annual basis, depending on preferences. Without any of the payment methods being penalized with any kind of surcharge or commissions. The consequence of these characteristics of Life Care generates that in the end, the user chooses the format and the payment method that best suits him. As it is a policy that is not hermetic, but on the contrary is open to the profile of each of its claimants.
– .
