Insurance

Home Insurance

10 things that good home insurance covers

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10 things that good home insurance covers

Whenever home insurance is contracted, it is sought that the home is protected against the most common situations, such as a fire, a gas leak, water damage, civil liability, etc. But despite this, in recent years, insurance companies are expanding home insurance coverage to meet the new needs of policyholders.

It is quite common that those who subscribe to a home policy are largely unaware of the services and/or elements that it covers. This can lead users to bear the costs of certain incidents when in fact the insurer should.

The same happens at the other extreme: we may be convinced that our home insurance covers a certain claim and when the time comes, they tell us that it is not. For this reason, when hiring insurance for your home, it is advisable to find out about the scope of all the coverages, not only the exclusions but also the accidents and situations that are covered.

What your home insurance covers and what maybe you didn’t know 

  1. As a general rule, good home insurance offers you a DIY service to perform all those tasks that require someone who is a handyman, such as replacing a tap, mounting a shelf, hanging a lamp, or putting up some curtains. 
  2. The irruption of new technologies has brought many benefits, but on the other hand, it also endangers minors. Therefore, another thing that your home insurance covers and that you probably do not know is the protection against digital violence against minors. 
  3. Along the same lines, if we want all our information to disappear from the Internet because it is causing us economic or reputational damage, home insurance can take care of the erasure of the fingerprint.
  4. If your refrigerator breaks down or there is an electrical failure that causes food to spoil, another complementary guarantee of the policies that protect homes is to cover the loss of food that was refrigerated.  
  5. If we move outside the home to take a trip, our belongings will be insured even when they move with us as well, whether we are in a hotel, apartment, etc. 
  6. Comprehensive home insurance also includes travel assistance, through which the expenses that have to be assumed due to illness or accident abroad are covered, along with the shipment of medicines or the costs of location and rescue if necessary, between other services. 
  7. Another thing that your home insurance covers in all probability is theft or theft that you suffer outside the home, as well as the fraudulent use of credit cards. 
  8. To protect your family, among the different coverages of a policy of this type you can find assistance to any member through health, domestic, and educational personnel. The telephone medical guidance service is also included in many home insurance. 
  9. A good policy includes certain guarantees focused on companion animals, such as compensation for damages they may suffer, veterinary expenses, etc.
  10. Finally, another aspect that your home insurance covers and that you may have never considered is a legal defense: The insurance company assumes the expenses that the insured person has to incur to intervene in a judicial, administrative, or arbitration process. 

Life insurance coverage ensures peace of mind for coping with serious illnesses

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Life insurance

Cash indemnity allows the insured to use the funds for additional therapies or to compose income.

No one is free from unforeseen circumstances, regardless of age, sex, or economic status. However, there are behaviors that increase the likelihood that a person will be affected by a serious illness or a traffic accident, which compromises the ability to work.

The number of people concerned about health is increasing, but statistics still point a long way towards a healthier life. Various illnesses impose temporary or permanent leave from work, just as traffic accidents leave thousands of young people, in particular, with permanent sequelae.

In this scenario, changing the lifestyle and, in parallel, adopting protection instruments for unforeseen events is essential. There are insurances that include this type of coverage.

Data from the Ministry of Health indicate that, in the USA, an average of 300 thousand people suffer acute myocardial infarction per year. New cases of cancer in 2018, according to the National Cancer Institute, surpassed 500 thousand. Even if you have a health plan, you may need an additional resource for treatment because not everything is covered.

The Serious Diseases insurance, for example, indemnifies the insured person in cash who can use the resources for additional therapies or compose the income.

Serious Diseases insurance indemnifies policyholders for various types of cancer, Alzheimer’s, stroke, and heart attack. The prevalence of these diseases, whether due to an aging population or inadequate habits, has been growing. “Cancer is a multifactorial disease, with an important weight for genetics and family history, but it is also associated with unhealthy lifestyle habits”, comments Ricardo. Obesity, for example, by raising the level of hormones in the body, increases the risks of breast and endometrial cancer.

Smoking, in addition to being associated with lung cancer, also causes neoplasms in the bladder and digestive tract. “The fact is that poor diet, physical inactivity and stress expose the person to various diseases, such as cancer, cardiovascular diseases, and diabetes”, adds Caponero.

Accidents leave thousands of young people with sequelae.

Common sense associates the need for life insurance for older people and dependents, but the product is also important for young people. In addition to diseases such as cancer and cardiovascular diseases also affecting this population, it is the most affected by traffic accidents with temporary or permanent sequelae.

Last year, according to data from the DPVAT, 224 thousand people were left with some kind of permanent disability due to traffic accidents. The most affected age group is 18 to 34 years. There is a wide range of life insurance options, with simplified coverage to suit the younger population. And with the advantage of lower prices, due to the age of the insured.

For accidents or temporary illnesses, life insurance with Temporary Disability Daily (DIT) coverage guarantees the payment of an income in the form of a daily rate while away from work, within the contracted limits. If the insured person dies, the product indemnifies the beneficiaries, who do not need to be children or spouses but can be a father, mother, or anyone mentioned in the policy.

Is it possible to contract several life insurance policies at the same time

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several life insurance policies at the same time

Each insurer will pay the indemnity according to the insured capital contracted.

You can buy as many life insurances as you want, at the same time, from different insurers or at the same. There is no limit on the payment of compensation. Each insurer will pay the indemnity according to the contracted insured capital.

However, the insurer may limit the maximum values ​​for buying, respecting its technical acceptance limit. When you sign the insurance proposal or make changes to your policy in relation to the indemnity amount, the insurer may ask you to inform if you have other life insurance. However, the insurer will not be able to compel you to report the purchase of other life insurance if they are taken out after your policy starts.

The form of payment of insurance premiums will be at the discretion of the insured, according to their convenience and defined at the time of contracting. It may be monthly, bimonthly, quarterly, quarterly, half-yearly, or annually.

Life insurance on a pay-as-you-go basis is not an investment, so it does not allow you to redeem or return the amounts you paid. By taking out this insurance, you will be looking for compensation for a harmful event in your life, in the event of a claim (death, disability, illness, loss of income, inability to exercise the activity, etc.). If there is a claim, the insurer will pay the indemnity corresponding to the insured capital, according to the coverage contract. In general, insurance plans follow the pay-as-you-go financial regime, which does not allow redemption or refund of premiums paid, either to the insured or to their dependents.

When you receive the individual insurance policy, check that the coverage and the amounts of the insured capital are the ones that you contracted so that there are no doubts when paying the indemnity.

Do not pay insurance in cash or with bearer checks or provide your details or make payments to people who come to you in person or by phone, on the grounds that the information is necessary to release the claim. Insurers don’t do that. It is advisable to look for a qualified and trusted broker to mediate the contracting of the insurance, which should be the same one who will take care of the settlement of the claim.

What is a life insurance claim and how does it work

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What is a life insurance claim and how does it work

A word that always comes up when we talk about insurance is “sinister”. But, after all, do you know what is the life insurance claim?

Knowing the main terms used in this universe is essential for you to make the best decisions. Being able to have the tranquility offered by life insurance is priceless, but your choice must be based.

Read on and learn more about a life insurance claim and how it works!

What is a life insurance claim?

When life insurance is taken out, the policy issued details the coverages that are part of the plan. The occurrence of the event that this policy provides for is known, in insurance jargon, as an accident.

Thus, the claim can be conceptualized as the occurrence of an event whose coverage was contracted in the insurance. Thus, if an accident death victim has a policy with that scope, the claim will be configured.

The same is true for other types of life insurance coverage, some of which can even be used in life. Here are some cases:

  • death from natural causes;
  • partial disability due to accident;
  • total disability due to an accident;
  • permanent disability due to increased accident;
  • serious illness ;
  • daily due to temporary disability;
  • medical, hospital, and dental expenses;
  • funeral assistance.

In this general way, life insurance has possible claims for death, an accident with disability or illness. The occurrence of these cases leads to situations for which the policy of the insured person guarantees the payment of the indemnity.

How does the life insurance claim work?

The procedure for calling the insurer in the event of a claim is simple. After the initial contact with the company, you must formalize the communication on a form and submit some copies of documents.

The first measure, therefore, is to report the claim to the insurer by telephone. With this, the company will be able to give the necessary guidelines for the next steps to be followed.

The claim form that the insurer submits next must have its fields fully filled in carefully, avoiding subsequent returns due to errors or missing data.

Along with the complete form, documents such as:

  • certified copy of the death certificate (if applicable);
  • simple copy of the police report (if applicable);
  • simple copy of the insured person’s RG;
  • simple copy of the insured person’s CPF;
  • simple copy of the marriage certificate (if the insured is married).

It is important to note that the copy of the death certificate is the only document that needs to be notarized. The rest can be ordinary copies.

Also, it is worth noting that, in the case of collective insurance, there may be some differences in the process, which must be investigated directly with the contracted company.

After carrying out these procedures, the rest is left to the insurer. It will offer the assistance items provided for in the insurance policy without obstacles or bureaucratic difficulties. The respective indemnity is paid in a few days, also without other requirements.

What is the difference between personal accident insurance and life insurance

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What is the difference between personal accident insurance and life insurance

Personal accident insurance generally costs less than life insurance.

The basic difference between death coverage in life insurance and personal accident insurance is that the first guarantees compensation for natural or accidental death, while this coverage in personal accident insurance, as the name says, will be paid only in the event of death from a covered personal accident.

Exactly because it has less comprehensive coverage, personal accident insurance generally costs less than life. In addition, the amount paid for personal accident insurance usually does not differentiate between young and old, while the calculation of the price of life insurance varies according to the age of the insured.

Both, however, have a common advantage. The indemnity received by family members and/or beneficiaries does not enter the inventory and is not responsible for any debts left by the insured. The indemnity amount (insured capital) is paid directly to the beneficiaries, completely exempt from taxes.

Who is recommended for personal accident insurance?

Those who work for themselves, entrepreneurs, and professionals depend on good physical conditions to carry out their activities. An accident can force them to stop working temporarily, meaning a disruption in their income.

This is a condition in which it is certainly worth having this insurance. It is also recommended for those who work with a formal contract in a company that does not provide the employee with the option to adhere to a collective personal accident policy.

A young, single person, without children, independent and in good health represents a low risk of death, due to the natural order of life. But, if you still do not have the financial security that can guarantee the payment of your expenses in case you are forced to leave work due to an accident, you will also have a good motivation to take out insurance.

The cost of personal accident insurance is one of the lowest in the market, making it possible to contract complementary coverages. Among them, the non-monthly payment of insurance, in case the insured becomes unemployed, and the payment of school fees for the insured’s children.

Life insurance rules you need to understand before purchasing

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life insurance rules

Do you understand how life insurance works? It is an excellent way to protect your family in the event of an incident.

By taking out insurance, you guarantee the well-being of those you love and prevent unforeseen circumstances from compromising the safety of everything you have achieved.

How does life insurance work? 

This service offers different policies according to the desired coverage. When buying, the greater the risks assessed, the higher the monthly fee will be. That is why it is important to evaluate the available plans well in order to be able to choose an offer that meets your demand with the price you can afford.

One aspect that few people know is that life insurance does not only indemnify in cases of death, but it can also help in circumstances of accidents that lead to disability and serious illness, which can compromise the source of family income.

Thus, when one of the situations provided for in the policy occurs, the insurer pays the indemnity to the indicated beneficiary.

What are the rules of life insurance? 

Insured health status

At the time of buying, an analysis of the health and lifestyle of the insured is made to determine the value of the insurance. The main items considered are histories of diseases, alcoholism, smoking, and physical inactivity.

It is important to make only true statements in the assessment so as not to compromise the payment of compensation if you need to. If the insurer identifies any false or missing information, the premium may not be paid.

Age limit

In most cases, insurers do not accept that people over 65 take out life insurance. In some plans this age is even lower, dropping to 60 years. This is because the older we get, the greater the risk of death. However, if the policyholder has already purchased a policy before reaching the age limit, the contract can be renewed without hindrance, depending on the insurance rules.

Age is also used to establish the amount to be paid in monthly fees, as is done in health plans – again because people with a longer life are more likely to acquire diseases and die. It is worth mentioning here that the personal accident plan does not make this type of distinction between young and old.

Indication of beneficiaries

The life insurance indemnity is not part of the inheritance. In this way, the insured can choose anyone to be the beneficiary – even those who have no socio-affective relationship and inbreeding. In addition, it is possible to link the policy to more than one beneficiary, as long as the contracted plan allows this option.

How does flood coverage work in home insurance?

The climate and poor quality of the facilities in your home are not the only reasons why a claim can be caused. © Pixabay

There are many reasons that can make you find your house flooded by water from one day to the next. However, do not be overwhelmed because many home insurance includes this coverage in their policies. So that you have everything clear, today, we tell you what they are about and how they work.

One of the main causes of accidents inside a home corresponds to damage caused by water.

Indeed, there is a long list of situations in which this type of accident can occur. One of the most common are floods caused by poor construction or a house breakdown.

Leaks from rain, moisture in the walls, pipes or leaks in the pipes can be just some of the problems that cause your home to flood.

However, the climate and poor quality of the facilities in your home are not the only reasons why a claim can be caused.

Human failures, such as forgetting to turn off the tap or letting the bathtub run, also represent a significant percentage of the causes of damage caused by water inside domestic homes.

Water damage can range from minor damage to complete flooding of the home. For this reason, having Home insurance that includes this type of coverage can be very convenient when facing a situation of this type.

Let’s take a deep dive into what these policies propose and how far their coverage goes.

Water damage: what do they contemplate?

Before reviewing the coverages that a water damage policy can include in Home insurance, it is important that you find out if your contract includes these types of incidents.

Indeed, there are different types of home insurance and each one is different, therefore, yours may not have flood coverage.

On the other hand, the corresponding compensation and replacements will depend on the type of policy you have previously contracted.

Among the most common coverages that can be found in this type of insurance are:

Rain damage

In case of heavy rains or that they produce some type of accident in your home, the insurer may compensate you as long as the intensity of the same exceeds that established by the company.

Damage caused by meteorological phenomena

In addition to rains, some home insurance policies include water damage caused by meteorological phenomena such as strong winds, storms, among others, among their coverage.

Damage caused by floods

In the case of floods, the policy may stipulate that compensation will be made on the damage produced, provided that the origin is breakage of channels or ditches on the surface.

Damage caused by extraordinary floods

It may be the case that the magnitude of the flood is such that the insurance company declares the loss as an extraordinary flood.

How far does the coverage of this type of policy go?

flooded kitchen
These types of policies include exclusions that you should know. 
© Pixabay

As with other types of insurance, coverage will depend exclusively on the policy you have taken out.

While some insurances will cover only the continent of your homes, such as ceilings, floors, and walls, others will also cover the content, that is, appliances, furniture, etc.

In turn, the vast majority of Home insurance with water damage coverage includes Third Party Liability.

Are there any exclusions in water damage coverage?

Indeed, there are some situations where, although there is a loss caused by water, the insurer is exempted from any obligation to make payment for the damages produced.

Among the most common exclusions are:

  1. Exclusion of damages caused by public pipelines
  2. Exclusion of damage caused by water if the apartment is rented and the use of the house has not been communicated to the company.
  3. Exclusion of water damage if pipes are exposed.
  4. Exclusion of water damage coverage due to forgetting to turn off the tap when the insured home has been uninhabited for more than 72 consecutive hours.
  5. Exclusion of damages due to leaks that have occurred through roofs, walls, and/or walls from adjoining or superior homes.
  6. Exclusion of damages derived from the freezing of water if the house has been uninhabited for more than 72 consecutive hours and it is shown that the necessary precautionary measures have not been taken.

What is important to know before Purchasing life insurance

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Life insurance is not just a service for older people.

Life insurance has the main objective of guaranteeing the financial protection of those you would like to see supported in your absence. This protection does not only work in the event of the death of the provider, it can also be used in other situations such as serious illnesses, accidents, and other unforeseen events that may harm your financial security and that of your family.

Insurance protection can be for a lifetime or for a fixed period of time, with coverage for five to 30 years, for example. In the case of temporary insurance, when the contract ends, protection ends.

The product, however, cannot be confused with an investment, warn experts. The correct thing is to understand life insurance as financial protection in case of unforeseen circumstances.

life insurance for …..

Life insurance is not only a service for older people, in fact, but it can also be taken out by young people and this earlier hire can even be a favorable point.

But what would be the ideal time to take out insurance? Now. You never know when unforeseen events can happen and, taking out insurance as soon as possible can bring more peace of mind to your decisions and plan your future and those you intend to protect, in addition to a more attractive price.

In the event of unforeseen events, insurance can pay compensation in the diagnosis of a disease, avoiding, for example, that you need to sell your assets or use your applications. In other cases, life insurance can offer liquidity to the heirs, facilitating the inventory process.

Because of this, when hiring life insurance keep in mind that it is important to map all your needs and / or the needs of those you want to offer financial security in the case of your early absence, preferably with the help of a specialized professional.

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