It is very common for adults between 35 and 40 years old, especially those who have family dependents, to consider taking out life insurance. In this way, those who want to change beneficiaries of the Life Insurance will have financial resources to be able to face the death or total and permanent disability of the insured.
Undoubtedly, Life Insurance is an ideal product for those who want their loved ones to have certain financial guarantees in the event of death or other events.
To get the best out of this, it’s the best to choose to hire the services of a good insurance consultant. This is the case of Euroteide Seguros , an Insurance consultancy in the southern area of Tenerife that, with more than 20 years of experience in the Insurance sector, will put at your disposal all their good work to get Life Insurance, the Car insurance or the health insurance that best suits your needs and yours.
A life insurance is a type of insurance under which the insurance company will pay certain amount of money to the beneficiaries of the life insurance -usually family or spouse of the asegurado- in case of death of the insured .
Thus, life insurance is emerging as a good product that protects assets and guarantees the necessary resources for the insured’s family in the event that the insured dies or is unable to continue working as a result of a disability or serious illness.
The jargon used in Insurance is often complex, with terms that are often confused. However, it is essential to know which parties are involved in an insurance contract to fully understand the policy that is being contracted. An Insurance contract has three parts:
The fundamental right that the beneficiaries of a life insurance have is the collection of the economic benefit that had been agreed with the insurance company in the policy. Thus, the beneficiary will be the one who receives the capital insured in the Life Insurance . In addition, any person has the right to consult the existence of other Insurances to be able to manage their collection, for which they must go to the Registry of Insurance Contracts with Death Coverage. However, in order to receive the sum of money, it is necessary that you meet certain conditions:
The Article 84 of the Law of the insurance contract provides that, at any time can be altered designations made to hiring an insurance policy. This means that, effectively, the beneficiary of your life insurance can be changed . However, it must be taken into account that it is the last will of the Policyholder that prevails, so that it will be the last designated beneficiary of the it who will receive the capital insured in the Insurance policy in the event of death.
There are two ways to change the beneficiary of Life Insurance:
Without a doubt, the change of beneficiary of Life Insurance is a great option for those people who have family or loved ones whom they want to leave in the best possible situation in the event that they die or cannot continue to earn income.