Definition of Life Insurance

The life insurance is he type of insurance that guarantees a person in the event of their own death financial compensation to his direct relatives, or in the absence of him to those people that he himself chooses as beneficiaries of the same.

Type of insurance that a person takes out in her name so that in the event of her death, the beneficiaries collect a specified sum of money that guarantees them financial support

In this way, the person who hires this type of insurance ensures that if something serious happens to him, such as her death, his relatives, relatives or loved ones will not they will be left adrift in economic matters, and then they will receive a sum of money stipulated in the insurance contract, which will obviously have a series of conditions for the pay.

Anyone can take out life insurance, a person who performs a risk profession or activity is the most normal and advisable, especially if it is the only family support, but this insurance is also common among people who have from economic resources.

To the aforementioned compensation it is called in the jargon as insured capital, meanwhile, the payment method to access it can be from an income financial or a one-time payment of an agreed amount.

The mission to protect the bereaved

So, the special mission of life insurance for those who take it is that the people who are in charge of the insured, or those that he chooses, When the time comes for a misfortune such as his untimely death, they will immediately be protected with a sum of money in respect of compensation.

Conditions stipulated and subscribed in a contract called a policy

The relationship between insurer and contractor will be established through a document known as policy and it will specify the scope of the agreement, such as the time of compensation, the form of collection, who will collect it, among other issues.

Just as the insurer agrees through the policy to pay the agreed compensation, the policyholder must pay a fee in return that will guarantee coverage.

Normally it consists of a fee that is paid monthly and of course the payment of it must be up to date at the time of the death of the insured so that the policy can be effectively collected, any debt in this sense will be expire.

If the payment is not regularized at the time of the death of the individual, the insured may not pay the compensation agreed.

Life insurance classes

There are different types of life insurance depending on: its duration and these may be: temporary or whole life; for the type of premium, we find level premium in which the payment is constant or else risk premium, in which the amount increases in relation to the age of the insured; and depending on the number of insured persons covered by the policy are the individual insurance, group insurance or multi-head insurance.

It should be noted that in any of its modalities, the policyholder may modify the beneficiaries even after the formalization of the policy.

Fiction and reality: murders to collect insurance

The issue of life insurance has always been surrounded by a veil of darkness and trap as a consequence that the collection of the policy money depends on the death of the insured.

This topic has been widely addressed in fictional stories, in the movie theater, in the novels, in the police and suspense genres, usually, where the crime of someone who has this type of insurance occurs, and then a investigation police for decide if his death is linked to the collection of the same or not.

By case, the beneficiaries are always the main suspects.

And in most cases these stories are resolved precisely against the beneficiaries who kill out of greed.

Wives who want to collect her husband's insurance to go with her lover ...

But as it is popularly said that reality is often more than fiction, it is common to find cases of this type in real life and on the police pages of the media. communication.

People who perpetrate murders or hire a hit man to kill the one who has made them beneficiaries of life insurance, of course all stories driven by a desire for greed and cruelty.

Life Insurance Topics