Life policies come with other options. The insurers make their products more flexible.
If you have thought about buying a life insurance, consider the possibility of extending those traditional limits that the sector has had.
Now, insurance companies, which have limits to invest their money in banking, have put a good part of their capital into the financial orbit, they are even capturing beyond the contributions of a life insurance: long-term funds with a acceptable performance.
If the bank pays 5% for a term deposit, depending on the time and the amount, the insurance companies come to pay 4.2%, one percentage point more than a year ago. The largest are having good acceptance.
For example, with a monthly premium of $ 144.58 for a life insurance to 20 years of $ 100,000, with travel assistance, funeral insurance, death or dismemberment, as of the third year of acquisition the policy insured may rescue small part of the contribution.
This is not a service that all accredited national companies give, but it is growing. Equivalent, for example, has a good part of its customers with this system. And there are those who contribute up to 1,000 dollars a month, which allows them to receive part of their contributions in a year.
With a premium of $ 144.58, a person with 48 years of age (with a risk type B, non-smoker) is projected to receive $ 10,275 when he is 65 years old, if he has negotiated with an interest rate of 3.5 % (projected).
But as of the fourth year, it will be able to rescue $ 811 (the third only $ 111) or $ 3,503 from the seventh. Taking this example from the moment in which the balance of the individual account reaches $ 12,500, the projected rate can be increased by 0.50%. The conditions depend on the insurance company.
The individual account will receive monthly the accreditation of an interest, which will be calculated at a rate that can not be lower than the monthly rate equivalent to the annual guaranteed rate specified in the particular conditions.
It is important to save part of the money we earn for contingencies, to invest in a personal project or when we get older. There is a wide range of savings products, some less known, such as savings insurance, says Mapre company.
Savings insurance is an instrument through which the insurer undertakes to pay the insured an amount of money on an established date if the beneficiary is still alive. In addition to a savings instrument, it is insurance with coverage in case of death.
In this case, a savings insurance delivers the capital and the agreed interest upon expiration thereof. Periodic interest payments do not occur, but the types offered tend to be more attractive than bank deposits. Unlike other savings products, with pension plans a return is guaranteed, which will depend on the interest rate, when it expires.
In general, as with pension plans, the insured must make periodic income that will count as contributed capital. The periodicity of the contributions will be specified. There are some that allow to contribute all the capital at the beginning and do not require extra income. There is also the possibility of recovering the money before the agreed expiration date, withdraw part of the capital and even stop making some periodic income.
It is estimated that the investments of this sector in the country, in the stock market, amount to $ 500 million. The majority, in fixed income.
In the coming months, it is expected that more companies in the sector will create products to raise money from the Ecuadorian insured. (I)