Month: December 2019

What Is The Need To Review Insurance?

Thanks to www.davechristyinsurance.com for chiming in

If you think about it, neither the family economy nor the responsibilities are the same at twenty-five as from the forties. That is why insurance coverage must be adapted as our situation in life changes; with the birth of a new child, when planning his education, when addressing a business project, etc.

The investment in security must be reviewed periodically.

Think of your insurance as if it were a frame within the movie of your life. This frame shows the coverage of your insurance according to the needs and risks you manifested at the time of hiring. If, since then you have renewed your policies year after year without changing anything, it is most likely that this insurance does not cover, by excess or by default, your current economic needs.

Everything that is measured can be improved.

The natural thing is that people evolve throughout life. Therefore, we would expect our insurance to be reviewed periodically to ensure that, in case of need, the amount to be paid covers our economic needs.

It can be frustrating that, after having suffered an accident, you realize that the compensation of the insurance plan that you hired in your day is not enough to cover your current economic needs.

3 Aspects That Require Our Attention

1)Have hedges and capitals been chosen according to my particular characteristics?

It seems obvious to us that each person should hire only what they need to ensure their particular situation. However, the reality is that sometimes we acquire insurance that has not been adapted to our personal characteristics.

This situation happens because sometimes we do not know the possibilities offered by the insurance world or for lack of advice.

2)Are my coverage covered in the public social security system?

With private insurance solutions, we cover the deficiencies of the public system, but we do not always know in depth what coverage and what amounts the State and / or alternative systems guarantee us.

All workers contribute to Social Security; it can be through the General Scheme, the Special Scheme for Autonomous Workers, etc. Some professionals may use the quotation to a Professional Mutual as an alternative. Through our regime and contribution base, we determine the amount that we would receive in case of suffering a contingency:

  • Absolute Permanent Disability (Absolute and Permanent Disability)
  • Total Permanent Disability (Total Professional Disability)
  • Temporary Disability (Labor Leave)
  • Death (widowhood/orphanhood)
  • Dependence
  • Retirement

3)Do I have access to an independent manager that looks after my interests?

The insurance contract contains a terminology with which we may not be familiar, so it is important to have a specialist who:

  • Advise us to make informed decisions
  • Make the steps we need in case of an accident
  • Keep our insurance plan updated over time

Insurance and security are synonymous when you make a correct subscription of the risk, that is when the contracting of the insurance is done according to your personal needs and is periodically reviewed at each stage of your life.

Contact your insurance manager, review the policies and certify that your personal insurance plan meets the economic needs and risks you currently have. If you do not have a personal advisor, request some of the services we offer you for free.