Life insurance is important protection by which your relatives can receive a cash benefit that can help you pay off important bills and fees. Who Should Buy Life Insurance? When is it worth considering such protection? Read on.
Life insurance – what is it?
Insurance can be defined as an agreement under which the insurer (company) is obliged to pay the benefit to the insured person (the person who took the insurance) as a result of the events specified in the insurance agreement. Most often, we can meet with health, travel, hospital, accident, life or group insurance.
The insurance contract is concluded between the person who meets the conditions for joining the contract and the insurance company. Depending on the General Terms and Conditions of the Agreement, such protection begins on the date of signing the contract, on the date of payment of the first insurance premium or on the date specified in the insurance contract. Such a policy can be either for a period of time (protection lasts for the period specified in the document) or for an indefinite period (protection lasts until the event for which the policy is purchased).
Each insurance, to be able to conclude it and be valid, must meet the conditions specified in the contract. In the case of life insurance, these are most often:
– age,
– health condition,
– regular premium payments.
In the case of whole life insurance through 4Life Direct, the contract can be concluded regardless of the state of health – no medical certificates are required and there is no medical questionnaire.
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Life insurance – what does it cover?
Life insurance is a type of protection that covers the life of the insured person. What does it mean? If there is an event for which the policy was purchased – in this case, it is the death in an accident or the natural death of the insured person – beneficiaries will receive the benefit in the amount for which the contract was concluded.
It is worth noting that due to the fact that for the indefinite life insurance, medical surveys and tests are not required, when an event for which the policy is purchased occurs, in order to pay the benefit, it will not be necessary to present medical documentation and medical certificates. What does it mean? Regardless of whether the insured person’s death occurs as a result of an accident, cancer, stroke, heart attack, Covid-19, chronic disease, or other diseases, if contributions have been paid, beneficiaries will receive compensation in accordance with the provisions of the GTC.
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Lifetime insurance – who can insure?
Life insurance covers:
– women and men.
– married couples and partners.
– people over 40 and under 86.
– people with Polish citizenship.
You often ask us if there is life insurance for a retiree? Is there life insurance for a person with cancer? Yes. Retirees, pensioners, farmers, office workers, specialists, doctors, teachers, principals, parents, and grandparents can insure themselves. When concluding the contract, the occupation, the amount of remuneration, marital status, or health condition does not matter. The only conditions are age and nationality.
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Life insurance – when is it worth getting insured?
Many people wonder when it is worth buying life insurance. Quite often, these decisions are made when the person to be insured is of old age. However, it is worth thinking about insurance in advance. Why?
Life is unpredictable, and the recent years when the Covid-19 pandemic broke out has shown us this in particular. Thanks to the protection offered by the policy, you can rest assured that when the inevitable happens, your loved ones will receive financial support that will allow them to pay for, among others, funeral expenses, rent bills, or other expenses.
It is good to think about the policy in advance, as age affects the amount of the premium. What does it mean? The sooner you decide to conclude an insurance contract, the lower your monthly premiums will be. It is worth taking out insurance if you want to financially secure your family and be sure that when you are gone, your loved ones will have money to cover important fees.
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Life insurance – which ones to choose and what to pay attention to?
There are many offers with insurance, but it is worth carefully considering the choice of policy to make sure that all the conditions in the contract are met. It is nice to give attention to things like:
Who is the insurer?
This is one of the most important things to consider. If the insurance company is checked, you can rest assured that the insurance contract was concluded with a reliable company. Through 4Life Direct, you can buy insurance of Towarzystwo Generali Polska SA, which has been operating on the Polish market since 1998 and is part of one of the largest insurance and financial groups.
What are the General Terms and Conditions?
It is a priority to read the terms of the contract carefully when concluding it. There are documents where such conditions are described on several or several dozen pages. Then something is easy to overlook, and it can take a long time to familiarize yourself with the contract. In Lifetime Life Insurance, the General Terms and Conditions are only 5 pages long and are written in plain and clear language. It is important that each person who decides to purchase the policy is aware of the terms of the contract.
The method of concluding the contract.
It happens that in order to conclude a contract, you need to go to the office and purchase the policy personally. Through 4Life Direct, you can get insurance without leaving your home. One phone call and a conversation with a consultant are enough to conclude an insurance contract. All necessary documents are delivered by a courier to the address indicated by the given person. There is also no need to go to the doctor because you do not need a special certificate to buy insurance. You can also insure yourself online here.
What are the exclusions for the payment of the benefit?
Information on exclusions is included in the terms of the contract and it is very important that you read them. This will avoid unpleasant situations when a beneficiary submits a request for payment of money. The life insurance “My Close” includes only the basic exclusions that are found in almost all policies on the market. However, there are no additional exclusions, e.g. regarding death as a result of cancer or other diseases, e.g. chronic diseases. Consequently – regardless of whether the insured person dies as a result of natural death or disease, beneficiaries will receive the benefit payment.
How long does it take and what is the procedure for paying the benefit.
People who experience the loss of a loved one often have to deal with many formalities such as organizing a funeral, matters related to informing loved ones about a person’s departure, issues regarding the termination of subscription contracts, rewriting bills, and many others. In this difficult time and an overwhelming number of cases, it is important that the benefit payment process is not only simple but also fast. In Lifetime Life Insurance, the payment of compensation is ordered within 24 hours (including working days) of submitting and accepting the documents.
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Lifetime insurance – why is it worth getting insurance?
You can equip any number of people.
Among them may be family members (children, grandchildren, parents, cousins, siblings), friends or acquaintances, as well as charities.
Protection is a lifetime.
This means that the insurer will not terminate your contract because of your age or change in employment status. The policy will be valid as long as premiums are paid.
Peace of mind and financial security of the family.
The death of the breadwinner may worsen the family’s financial situation, which may result in the relatives’ lack of means for maintenance and payments. Thanks to the policy, you can be sure that your loved ones will receive money in the amount of the sum insured you choose, in accordance with the concluded contract. This will allow them to pay their important bills. A sense of financial security can reduce the stress that is caused by money issues. Less stress means better health as well.
No grace period.
There is no grace period in the life insurance policies. It is worth adding, however, that in the event of the insured’s death not related to an accident, during the first 24 months, the payment of the benefit is limited to the number of contributions paid for the given insured person. After this time, the benefit will be paid in the full amount of the selected sum insured.
Quick payment of the benefit.
The beneficiary may receive payment even within 24 hours of submitting and accepting the documents.
The death benefit is also paid when the cause of death is cancer, chronic disease, Covid-19, or other long-term medical conditions.
