Death insurance

What are the economic consequences of not having death insurance?

What are the economic consequences of not having death insurance?
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Death insurance is a life prevention that every person should have. In Spain in excess of 20 million individuals have contracted insurance protection. This strategy has turned into the claim to fame of the house since the most recent century, a kind of protection item that has picked up a profound roots in our nation for a long time.

You could ask every one of those numerous individuals what they believe are the advantages of employing protection in this field. Be that as it may, we have chosen to turn the tables and take a gander at those other numerous people who are not secured. What is your circumstance? Imagine a scenario where I don’t contract death insurance?

What happens if I do not contract a death insurance

The first is the economic consequences. It is to imagine that I will obtain a small saving (since the premiums in the insurance of funerals are generally low, mainly if the policy is taken when one is young) during many years, but when I die my relatives will have to cancel an amount big money Currently the expenses of a burial are between 2,000 and 4,000 euros. It is obvious that it is not a very large amount of money but it can generate a difficulty for our relatives and close friends, according to the economic situation of each one. And that if normal services are chosen, without additional.

The non-possession of death insurance also leads to greater difficulty of the efforts by our people after death, from the processing of documents to the incineration or burial services, religious services if necessary, can also generate other expenses if they should also hire a legal advice service to help them in the process, a guarantee that is generally included in the death policies, as well as the psychological assistance coverage. In the same way, they should deal with new problems such as the erasure of digital life, of that service some insurers are dealing with. If it is foreign, another additional cost is the transfer and repatriation procedures to this country or from this country.

In short, that the situation for the relatives of the deceased is complicated at a time when neither the body nor the mind are precisely calm for the execution of procedures and procedures. And it is that this type of death insurance, unlike the others (home, car, health …) is not hired for the benefit of oneself, if not to make things easier for our relatives in such a complicated situation.

Benefits in life

But the above not everything. As insurance services cover more and more land, at present many death insurance offer a large number of guarantees, either between their basic coverage or as part of the supplementary coverage, from which the person taking the death insurance and the beneficiaries of the insured can benefit in life. Because this is a type of family insurance and it serves the whole family.

Although at first glance it seems that they have nothing to do with each other, the truth is that if we have not taken out a death insurance we can also be left without coverages such as travel assistance; a guarantee that at a given time can offer – in addition to help in case of death – a number of benefits such as health transfer, advance funds, search for luggage, and sending urgent messages, among many others.

There are also other advantages that a complete death insurance can offer to enjoy life, such as telephone assistance to the insured in its many variables: legal advice, medical consultation, psychological care, social counseling … And that without even mentioning the guarantees of home help, which goes from medical care to cleaning staff, continuing by sending medications or veterinary assistance in the case that we have a pet at home.

General medical care is also sometimes included because a death insurance can also be executed as a health insurance pocket, that contains some dental services or the assistance of professionals in branches such as psychology, nutrition, optics, physiotherapy , osteopathy, audiology, podiatry, aesthetics … You can even contribute to get fit in spas and gyms or offer pedagogical assistance to our children.

To conclude it must be said that the products of this branch of policies include coverage that guarantees benefits in case of death or disability after an accident, or in the event that a hospitalization occurs.

It should be noted that not taking death insurance not only renounce to simplify the post-mortem efforts to our loved ones, but also to have coverage that, paradoxical as it may seem, can be enjoyed in life. The reality is that, as it happens in other branches of insurance, the products that companies offer are more and more complete. So much so that sometimes they go far beyond death.


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