Family Life Insurance: How Does It Work?

No one disagrees that  life insurance  is synonymous with precaution, even if you don’t have one yet. Thanks to him, you can  have stability  in any circumstances, such as illness and accidents. But be honest: when you think about life insurance, do you think only of yourself? It’s quite likely that you answered no and even found the question meaningless, didn’t you? Of course, individual life insurance does not protect your family and everyone you love. Therefore, today there is the possibility of taking out  family life insurance !

Even though it’s the logical option when you have a family and dependents, it’s little known. To clarify your doubts on the subject, today’s post explains everything about family life insurance. Come on?

What are the differentials of this insurance?

A family life insurance, as the name implies, offers coverage for the couple, of all types. When you choose one, you will not only guarantee your ample peace of mind, but also that of all the people for whose happiness and comfort you are responsible.

The insurance offers diversified coverage and the possibility to extend some protections for your spouse. In this case, the children will be even more protected, since they know that, if something happens to one of their parents, they will have the necessary resources to avoid difficulties.

Among the other advantages of this type of insurance is participation in monthly drawings. They are carried out by the Federal Lottery and allow the family group to have the chance to receive extra resources, to further improve their living conditions.

What are the types of family life insurance coverage?

The  possible coverage  of the family insurance vary according to the needs of the hires. Among the most basic are:

•   permanent total or partial disability , caused by an accident, and functional disability, caused by any disease that causes loss of autonomy.

Depending on the demands or preferences of each family, it is feasible to take advantage of additional coverage. They bring even more protection for everyone involved, and include:

•  daily for temporary incapacity , for those who depend on their income and lose it if they stay  away ;

•  assistance  if something happens to domestic and/or health workers, such as nutritional assistance and individual or family funeral assistance, extended to spouses and children under 21 years of age

When can the family activate the benefit?

The activation of the insurance will depend on the coverage and conditions put into the contract. Anyway, being aware of the procedures for contacting the insurer’s service team is very important, as it ensures the effectiveness of what has been agreed upon when your family needs it.

In the event of the insured’s or spouse’s death (in case of extended coverage), the family can claim the indemnity. Likewise, when policyholders are prevented from working, totally or partially, temporarily or permanently, it is possible to activate the benefit, as stipulated in the contract.

In some cases, when hired, they are paid daily during the time of incapacity. In others, a crippling disease condition allows for an advance payment for death.

Terminal illnesses can also motivate receiving the benefit as a way to make the family more prepared and better supported.

In the case of assistance services, such as residential assistance, the family is even more assured. If a home repair needs to be done, for example, as long as it is covered by the policy, it is possible to call the insurance company.

What can we conclude?

Family life insurance is very important to take care of the people you love the most. Easy, versatile and personalized to hire, you can guarantee that the coverage is tailored to the main needs of your family and loved ones.

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