How Many Reasons Do You Need To Take Out Life Insurance?


Updated: 17 Apr 2024

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The main reason to purchase life insurance is the protection that this insurance provides to your loved ones. Life insurance is the only product that guarantees, from day one, that your family can maintain the standard of living to which they are accustomed in the event of your absence.

Just because we enjoy good health and economic security today does not mean that our future is assured. Taking out an insurance policy immediately increases our peace of mind and that of our family unit.

However, being proactive when purchasing life insurance also brings us other benefits.

Reasons to Take Out Life Insurance

1.-Family Protection

Because the future cannot be controlled, but it can be protected.

In our daily lives, we add financial obligations that we assume in an exercise of balance between our level of income and expenses. However, a premature death or disability causes an immediate imbalance in the home, both emotionally and economically.

2.-Patrimonial protection and cancellation of mortgages

Because the home is a source of well-being, the place where we support our families and where we feel safe and comfortable.

A mortgage loan is a major drag on any family’s income, and the death of one member of the family unit destabilizes the economy and can jeopardize home ownership.

When calculating the amount to be insured we must also take into account the cost of maintaining the properties, as well as other outstanding non-mortgage debts, avoiding a loss of family assets due to debt settlement.

3.- Personal protection

Because protecting ourselves is also taking care of our own. Life insurance can also include important coverage in case of disability; guaranteed capital from the moment of contracting that will solve both the loss of income as a result of suffering a disability that affects our working life, as well as the increase in expenses for medical treatments and professional care that we may need.

4.- Liquidity for Beneficiaries

Because at the worst moment, they won’t have to worry about the economy. Life Insurance allows beneficiaries to receive the entire guaranteed capital immediately, thereby having liquidity to meet the expenses derived from taxes and administrative procedures, without waiting to have to settle the rest of the inheritance.

5.- Privileged tax treatment

Because taxation with significant reductions also helps. Life Insurance benefits enjoy various tax incentives, both in personal income tax and other taxes. The capital received by the beneficiaries in the event of death has significant reductions in the Inheritance and Donation Tax.

6.- Savings for retirement

Because combining savings and protection is always a good idea. Yeah! In addition to offering you capital that covers your family and personal needs in the event of death or disability, Life Insurance can also include guaranteed savings to help your children in their studies, to complement your Retirement, or to finance your project.

This simple formula will make it possible for our family to face the new stage with sufficient financial support, allowing them to make a planned and stress-free adaptation to the new situation.

Insurance Center Associates help people carry out good financial planning, which allows them to protect their family and have the necessary economic security in the event of unforeseen events, through classic life insurance with guaranteed capital. Our life insurance policies are flexible, without exclusions, 100% guaranteed, and with profit participation.

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