About life insurance risk
Life insurance acts as a guarantee against a possible situation of economic need, in which the beneficiary will receive a benefit in the event of the death of the insured person. However, if the policy also provides for disability and dependency coverage, it is the insured person who receives the benefit in order to cope with their day-to-day situation.
There are different forms of life insurance, from taking out life insurance for the insured to a temporary one up to a maximum age. For the payment of the premium, there are also different options, such as paying a single premium or an annual premium that is usually increased as the age of the insured also increases. In the end, if the insured person dies, the beneficiary designated by the policyholder will receive all the capital he has contributed to the insurance.
In life insurance, the main coverage is death, but there is also the option to contract disability or dependency coverage. In the event of a total and permanent disability which incapacitates the insured person from his normal work, the company shall pay compensation to that insured person to enable him to cope with his day-to-day work.
In the event of dependency, the insurance company will pay the compensation if the insured person is left in a situation that cannot be taken care of by himself and depends on another person to perform the most elementary everyday acts.
There is a very interesting option for groups and groups, risk life insurance can bring together several insured persons in a single policy, which is contracted by a natural or legal person on the head of the different insured persons, grouped by some employment relationship, professional or otherwise. This facilitates administrative and payment procedures.