Almost everyone knows that life insurance is the contract that one signs with an insurer, pays a premium and if one dies, the designated family receives the sum of money insured in the policy, also known as the death benefit.
That is the basic idea of how life insurance works. In reality, life insurance can provide other benefits. For example, if the insured person suffers an accident and acquires a chronic illness that prevents them from doing the six daily activities essential to living autonomously, such as eating, dressing, moving around, bathing, checking the sphincter and washing, in short, if they become disabled, the insured would receive the so-called death benefit.
Another example is when the insured person contracts a terminal illness such as cancer and their life expectancy is less than 12 months. In that case, you can also receive the death benefit.
There is a curious moment with some policies. It happens that if the insured dies in an accident, the family could collect the death benefit for death and the death benefit for the accident. In other words, charge double.
Another possibility that some life insurance offers is to save a part of the premium for retirement. As you can see, to collect it you don’t have to die either.
It is best if you contact a Univista Insurance life insurance specialist and discuss all of your concerns and questions with them. This advisor will explain in great detail the market options available. Go with a clear idea. You no longer have to die to collect life insurance.