Monthly Archives: July 2019

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Advantages Of Having Life Insurance

Life insurance, yes or no? An age comes when we inevitably ask ourselves if we should take out life insurance. Of course, to be clearer, you must first know all the advantages of having life insurance.

 

Benefits of having or contracting life insurance

Benefits of having or contracting life insurance

Life insurance allows us to “be prevented” in the face of misfortune, since it provides financial support so that the family is not left homeless and can take a little better member failure.

It is common to see how both fathers or mothers do it so that, if one day they suffer an accident, their children receive some kind of help. However, these policies do not have the sole purpose of families. People who are alone can also hire them to deal with a possible situation of dependence or disability resulting from an accident or illness. So there are different types of policy.

Now yes … what benefits can life insurance bring? Is it really worth investing in it? These are some of the main ones:

 

Compensation

Compensation

The first advantage is that the beneficiary or the set of beneficiaries receives compensation from the insurance company.

 

Peace of mind

One of the reasons why many people decide to take out life insurance is to offer peace of mind to themselves and also to loved ones around them.

 

Free of embargoes

Free of embargoes

The sum of money that is received is free of embargoes, that is, it is received in full, even if the deceased had debts.

 

ISD or IRPF is not paid

And also, if it is a mortgage repayment life insurance, you can deduct the expense in the income statement.

 

The policy may undergo modifications

ISD or IRPF is not paid

Throughout the person’s life, the person may change the policy to adapt it to their different needs.

 

Deduction for freelancers

specifically, self-employed workers can benefit from a deduction of 500 euros from the premiums.

These are all the advantages of hiring life insurance, so a priori, any person who wants to live more quietly or has dependent children, can consider this possibility. So that whoever requires it, can be more protected against unforeseen events.

Hiring life insurance is always a good idea because it also promotes and increases the capacity to save.

 

How to take out life insurance?

How to take out life insurance?

The procedures to hire it are simple. You will only have to place your trust in a good company and choose the type of policy that suits your needs. Not all people need the same product, so for this you must analyze the different options and choose based on your situation.

In Estes Summers we have products from more than 40 insurers . You will find all kinds of insurance and loans that could be useful for you in certain situations of your life, to make each bump more bearable and to fulfill all your dreams. And if you don’t find what you are looking for, you can always ask us.

 

But now that you know all the benefits of life insurance 

But now that you know all the benefits of life insurance 

You might want to buy it as soon as possible. It is not a decision to be taken in a rash way, but a priori, it is advantageous for anyone.

And remember if you want to pay life insurance costs without realizing it, it is best to download the Estes Summers app . You will have a financial advisor by your side who will help you organize accounts. Are you really going to say no? Try it now and tell us if it has helped you.

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Summary of the Mortgage Law 2019

Spain is a very curious country. We have about 120,000 laws and regulations and, with that cake whose ignorance does not exempt us from its compliance, we should be able to behave well and not get out of the good way.

If we read the article of art 82.4 of Royal Legislative Decree 1/2007, of November 16, which approves the consolidated text of the General Law for the Defense of Consumers and Users and other complementary laws we will see that it declares. In any case, the clauses that, according to the provisions of articles 85 to 90, both inclusive are abusive:
a) link the contract to the will of the employer,
b) limit the rights of the consumer and user,
c) determine the lack of reciprocity in the contract,
d) impose disproportionate guarantees on the consumer and user or unduly impose the burden of proof,
e) are disproportionate in relation to the development and execution of the contract, or
f) contravene the rules on competition and applicable law.

Forced to assume a contract

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It occurs to me to think that almost all the letters of that list are compromised when someone is forced to assume a contract that they do not want, under the conditions established by the entrepreneur’s will, which limit the client’s right to choose, which they can assume an excess of guarantees (for example, home insurance is unnecessary in a flat if there is community insurance because it already covers the reconstruction of the house 100%) and, of course, abduct a potential free market customer for 30 or 40 years is not exactly kind to competitors.

Breach of insurance distribution

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Let’s add Article 5.e of Law 26/2006 on insurance mediation that prohibits the bank (as an agent that it is) Directly or indirectly impose the conclusion of an insurance contract. I insist since 2006 (the previous Law, the 9/1992, already prohibited in its article 26.2.g Coercion in insurance mediation, as well as inaccurate or inappropriate information to policyholders, insured, beneficiaries of policies or insurers, considering it very serious fault, So the bank has been foolish for 26 years in breach of insurance distribution legislation for this period.

Let’s complete the absurdity with the knowledge that the Mortgage Directive has been directly applied since March 2016. And that this Directive expressly prohibits the linking of insurance and other products to a loan. However … they have been forgetting that prohibition.

In summary: we will have a new Law that will prevent the linking of insurance to loans but we have a bank that is believed to be unpunished and that operates (at least in this) as authentic outlaw of the American West. Either you sign or you get a patrimonial shot and you run out of that constitutional right to decent housing. Unless you agree to lose your dignity and a lot of money to satisfy your whims.

The new Law, as Paul says, should have an escape route so that the client could leave insurance if it turns out that it is inappropriate for their interests. For this reason, the association presented to the Parliamentary Groups a solution that the Senate incorporated in its proposal: that the insurance could not exceed the term of one year although they could count on the possibility of being tacitly renewed subject to the provisions of article 22 of the Insurance Contract Law. But the honorable Members, in Congress, have decided to set aside the consumer and favor banking.

Unquestionable interest to provide that all insurances

Unquestionable interest to provide that all insurances

If I tell you that the insurance proposed by Good Lender does not cover the content fire if at least 85% of the insured value is not lost while the rest of the market does not apply that rule, it does not protect its customers in the event of uninhabitability or with a Hotel day or with a rental for one year while the house is being repaired, if I tell you that insurance does not cover our lives while we go for a bike ride or if we are taxi drivers or bus drivers while other insurance is protect, if I tell you that … You have to be very ignorant of the Law and the market or have an unquestionable interest to provide that all insurances are equal and that what does it matter if the customer buys the street or the bank.

From the outset would have already called the entire sector a chapter if it smelled a concerted practice in coverages and premiums. But, in addition, there is another very important issue and it seems that we only understand a few, experts in risk management: different people, different families, different habits and ways of life require different insurance. If I have or not art or collections, if I have my technified house or not, if I have neighbors or I live in an isolated house, if my pipes are buried or I have posts for the light to reach my house, yes … Each family generates risks different from another! And there is another fundamental element: