October 1, 2023

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Is it possible to use life insurance while you are alive?  know how

Is it possible to use life insurance while you are alive? know how

Did you know that not only in the event of the death of the pregnant woman can life insurance be activated? In short, depending on the coverage, the insured gets help in other situations, still in life. It all depends on the insurance company and the contracted product. Therefore, see below some situations in which the insured can activate his plan.

Situations in which life insurance can be used during life

1. Disability

If you have an accident and are therefore unable to work, it is possible to get compensation to help with the expenses. That is, you and your beneficiaries are not helpless and have no income thanks to life insurance.

2. Daily for temporary disability

In short, there are situations in which a person who has obtained life insurance suffers an accident, such as a repetitive stress injury (RSI). Or there are cases that require emergency treatment and require time off work. There are also cases where the driver of the application is involved in a traffic accident and cannot perform his activities for a while.

For all of these examples above, it is possible to request life insurance compensation, which can help with expenses and support the person.

3. Serious diseases

When the insured is diagnosed with a critical illness, it is possible to access critical illness coverage. Thus, you will be able to pay all your supposed bills up to this period. Coverage depends on each plan, but in general, life insurance covers the following:

  • Cancer, leukemia, and malignant tumors of the lymphatic system such as Hodgkin’s disease.
  • Acute heart failure;
  • cerebrovascular accident (stroke);
  • Myocardial revascularization surgery with coronary artery bypass grafting (bypass);
  • Alzheimer

4. Medical assistance

Paying for a health plan can also, depending on the contracted plan, provide medical care by video and audio, as well as consultation with professionals such as psychologists, nutritionists, and social workers. In addition, it is possible to receive discounts on medications and exams. In addition, it is also possible to use life insurance in case you need surgery or hospitalization.

5. Refund Policy

This type of insurance allows partial refunds of advance payments (after the grace period). In conventional insurance, if the insured needs to cancel the contract, the amount paid is not refunded, since it has already been used as security for the contracted product.

In the case of refundable insurance, the longer you keep the insurance, the higher the percentage of the reservation that can be refunded in the event of an unforeseen event, for example.

6. Help at home and in the car

Finally, depending on the type of life insurance, you are entitled to withdrawal and mechanical assistance. It is also possible to hire services for the home, such as a locksmith, electrician, among other assistance services.

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