Key keys to consider when buying insurance

However, it is very common for us to get hacked when it comes to choosing one. hundreds of questions: Is life insurance compulsory? And from home? What scope does each have? Is it worth getting funeral insurance? What advantages can I get with health insurance? Does my car insurance cover me abroad?

This and other aspects of the insurance world – increasingly less frequent coverage for policyholders and beneficiaries alike, or the most curious and unknown data – is the second digital meeting of the cycle. “Easy financing for home life”where, expert Ramón Satorra, commercial director of Banco Sabadell Eastern Regionput it on the table master keys to understanding the benefits of each type of insurance and thus make the best decisions when hiring them.

The event, presented by BİLGİ Club director Toni Cabot, five of the main insurances available: life, health, home, auto and death. But in the first place, Ramón Satorra wanted to underline that these procedures are important regardless of the insurance to be contracted. “They are made by a consultant who recommends what is best for us.because the cover catalog is very large».

BİLGİ Club director Toni Cabot with Banco Sabadell specialist Ramón Satorra. Hector Fuentes

Life insurance

Before getting into life insurance, the Banco Sabadell expert described it as “a contract in which the insurance company guarantees by paying a periodic receipt.” payment of a certain amount to the designated beneficiaries in the event of the death of the insured».

But, Why is it so important and why is life insurance so recommended? Satorra announced that with the amount received from the life insurance collection, we guarantee that. family unit -while rearranging his personal and economic situation- can lead a life more or less similar to the one before death one of the members who contributes income and preserves savings and assets. “This amount can help deal with a lower income situation, for example in the case of debt and mortgages,” he said.

All you need to do to get life insurance do a basic health survey Satorra insisted on having the insured and multiple insurers: “A person can insure his life for as long and for as long as he wants, as long as there are insurance companies that accept it. Like this You may have several fuses and therefore collect several fuses.».

As for coverage, Satorra explained that it was all sorts and very specific, «for example We have life insurance from Sabadell that covers risks specific to women and has special coverage for serious illnesses such as breast cancer or uterine cancer.. After diagnosis, this insurance is foreseen up to 70.000 Euros for the medical treatment and other matters required by the insured.

Speaking of family units, the expert warned there were “other risks as serious as the death of one of its members.” For example, one of the guarantees that can be added to life insurance is absolute permanent disability.for even more capital than death.

He also explained during the meeting: When signing a mortgage, it is appropriate to take out life insurance, in the event of death, where the bank lending the money is called the beneficiary. “So if the insured dies, the company will pay off the mortgage and the family can continue to live in that house debt-free.”

health insurance

As Ramón Satorra defines, health insurance is “a Health service contract covering medical and hospital expenses in case of illness of the insured or have an accident. In short, it’s a way to keep our minds at ease if we get sick.

The expert stated health insurance provides coverage -especially about the comfort of the patient- that the health system does not offer. “Of course, the health care received through private health insurance is perfectly comparable to Spanish public health, which is top-notch.”

So what good is this type of insurance? For avoiding long waiting lists, getting 24-hour emergency services, being treated at home if hospitalization is not required, choosing a doctor and hospital, a second medical opinion (including international), prevention plans, digital consultations and video consultations…Additional services that provide comfort above all else.

“The only limit or barrier in this case is age. A From the age of 70-75 it would not be very expensive and profitable to have private life insurance.», concluded the director of Banco Sabadell.

Home Insurance

home insurance protecting a home from risks or incidents, whether you are a landlord or a tenant. As Ramón Satorra explains, “it covers the continent, that is, the structure of the house; content, what’s in it; and jewelery has a special section for the declaration of value, so it is covered up to certain limits».

This type of insurance Responds to claims accidentally caused by the insured (accidental fires, water leaks from an open faucet…) and also provides legal liability coverage, (if an element falls from the balcony and injures someone)…); in addition to covering a claim for damage to our home by a third party.

Something very important and often overlooked, «Home insurance can be limited or voided if the item causing the loss is improperly maintained and maintained.», as the Banco Sabadell expert reports.

As for the most common claims covered by home insurance, these are: theft or attempted theft, electrical damage, broken glass or solar panels, damage from atmospheric phenomena, and water damage. Also, if any of the claims cause cosmetic damage, they are also covered by insurance.

During the forum, Satorra developed three points to consider when choosing damage insurance, such as home insurance: the cost of the insurance, what the coverage is, and the speed with which the issue is resolved. «The most relevant aspect of home insurance offered by Banco Sabadell is immediate service in the event of an accident. At the time the incident is reported, it will take 24 hours for a technician to dispatch unless it is an emergency. If it’s an emergency, in less than 3 hours, someone will be at your home to repair the incident. In addition, all repairs are guaranteed for up to 6 months.

A snapshot from the digital meeting on insurance framed in a loop organized by INFORMATION and Banco Sabadell. Hector Fuentes

car insurance

“It is a compulsory insurance, but that does not mean that it is purely a formality to get it”, Ramón Satorra was convicted talking about car insurance. “This insurance covers material and personal damage to third parties as well as our liability in command of the vehicle, so it should be reviewed very carefully before contracting.”

What distinguishes one from the other is the premium, the higher the fee, the greater the coverage. «The cheapest car insurance will not answer all the unexpected. Good insurance must have certain coverages, for example, Banco Sabadell has Europe-wide roadside assistance and worldwide travel assistance.».

Also, there is bonuses of up to 55% of the premium for non-accident – or the same, for being a “good driver”. “The usual thing is that a driver without a reported accident within a 4-5 year period can have very interesting advantages,” Satorra said.

death insurance

Undoubtedly, it is about It is one of the most common for generations in our country. “Funeral insurance guarantees funeral expenses in case of death of the insured, it’s that simple”, explained the expert during the meeting. “It has some additional scope that could be very interesting, but most of all, I’ll highlight one fundamental thing, and that includes psychological help for family members in moments of grief.” The biggest advantage is that the company takes care of everything at a time when the last thing the family wants is to be thrown into a world of paperwork.

This meeting is another one of the forum cycles. “Easy financing for the domestic economy” It was organized by BİLGİ and Banco Sabadell in order to update the financial knowledge of the population. Some didactic conversations are fun and very useful in home economics. next October 7 it will be time to talk about “How to invest in our savings”.