Important reasons for taking out life insurance

According to a study carried out by sociologists from the Department of Analysis and Research at the Rey Juan Carlos University in Madrid, more than 60 percent of Spaniards recognised that taking out life insurance is an excellent alternative for covering their direct relatives in the event of death or serious health problems. But what are the main reasons that push people to take out this type of policy? Excellent protection mechanism for the family In the event of disability or death, this type of insurance guarantees that the family of the affected person will continue to be financially solvent.

Important reasons for taking out life insurance

According to a study carried out by sociologists from the Department of Analysis and Research at the Rey Juan Carlos University in Madrid, more than 60 percent of Spaniards recognised that taking out life insurance is an excellent alternative for covering their direct relatives in the event of death or serious health problems. But what are the main reasons that push people to take out this type of policy? Excellent protection mechanism for the family In the event of disability or death, this type of insurance guarantees that the family of the affected person will continue to be financially solvent. In fact, due to this circumstance, it can be deduced that families that depend on the salary of a single member are particularly receptive to contracting it. In general, most of them offer a fixed amount or a monthly income agreed prior to contracting them.

They are the mortgage guarantee par excellence. The best way to obtain a good price for life insurance is to link it to a mortgage loan. In fact, all financial institutions require the contract when granting the money to ensure that, if an unforeseen event occurs that makes it impossible for the contracting party or his or her family members to pay, the money will be recovered. Furthermore, it should not be forgotten that families, at a time as difficult as the death of a relative or his or her state of disability, obtain a strong economic relief.Security for children of study age Nowadays, due to the increase in university fees and the lack of scholarships, studying a university degree is quite expensive.

Therefore, this type of insurance can also be understood as a guarantee that children of study age will be able to complete their education even if the parent on whom they depended is no longer able to support them. In short, these are the main reasons why Spaniards take out life insurance policies. In any case, choosing the most appropriate one, due to the great offer in the current market, is not always easy. In this sense, the price and coverage comparators that are becoming more and more powerful on the Internet are playing a key role in making this process, which was quite tedious not too long ago, today much simpler and infinitely more convenient.

Amber Govia
Amber Govia

Passionate music guru. Extreme beer expert. Amateur beer junkie. Hipster-friendly internet fanatic. Freelance reader.

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