Do you know how much life insurance costs?

istockphoto 518037359 170667a

Do you want to know how much life insurance costs? We will give you some examples to give you an idea. But we warn you: it is much less than you imagine.

In Spain, we live approximately 47 million people. Of that number, 4 out of 10 have life insurance. If we were to ask the remaining 60% why they don’t have one of these policies, they would likely say one of two things: they think they don’t need it, or they think it’s too expensive. However, in either case, they would be wrong.

Why do we all need life insurance?

Life insurance is a product that is responsible for protecting the economy of a family from any possible unforeseen event. They not only act in the event of the death of the holder, but they can also take action if the disability is declared or a serious illness is diagnosed, for example. In general, they are in charge of giving compensation to the client or his family if any circumstance negatively affects his financial stability.

Thus, it is a very common product among people between 35 and 44 years old, followed by those between 45 and 54 years old, since these are the age groups in which children are usually born. The family is one of the main reasons for contracting these products, according to data from Unespa, the insurance employer. It is logical, since what would happen if something happened to you? How could your loved ones afford the expenses without your salary and your help?

Even if the children are older, a person in their 55s or 60s may still have an outstanding mortgage or have another family member to care for. We must think that, if something happened to us, our relatives would have to assume our burdens and debts. Therefore, it is much better to know that, if something happens, they will have the financial support of the compensation.

Also, for singles without children.

However, life insurance is also useful for singles. In fact, people who are not married already make up the majority of customers for these policies. Those who depend only on themselves to live need support for the future. What if you had an accident and could no longer work? How would you support your expenses without your usual salary? How would you maintain your independence?

Thus, young, old, single, married, with children and without children, we all need life insurance.

Why is the price not a reason not to have insurance?

The price cannot be a problem to have the peace of mind of life insurance. There are so many things we take on every day that cost more money. Did you know that Spaniards spend an average of 1,475 euros per year on clothing alone, according to a 2019 study, and that we pay more than 400 euros each year on Netflix and other video platforms? And none of those figures come close to the cost of life insurance, even though they protect something much more valuable: our future.

How much does life insurance cost?

Do you know how many face amount of life insurance costs? It may be much less than you imagine. In fact, in many cases, it is even more expensive for you to go out to dinner a couple of nights with your family than to pay for a whole year. Curious, right?

To calculate the price, different variables are taken into account: your age, the capital you want to receive if something happens to you, and the coverage you want to hire. In addition, there is a wide range on the market and, if you compare prices, you will be able to adjust the budget even more, although without giving up a good product.

Therefore, we leave you some examples, taking into account different ages and contracted capital. Remember that if you do not find your specific case, you can consult everything in our comparator. You just have to insert your age, the capital you want, and the coverages that interest you the most. If you prefer, you can insert how much you want to spend, and you will see which offers fit your budget.

A 30-year-old person who wants to hire 50,000 euros

For only 30 euros a year, you would get a compensation of 50,000 euros.

If you want it to also protect you in case you suffer a disability, the premium would be 32 euros per year. Think that, on average, we Spaniards spend more than 60 euros only on the Christmas lottery.

A 35-year-old person who wants to hire 200,000 euros

The best price is 92 euros per year. If you wanted to also include disability, it would be an annual premium of 146 euros.

A 45-year-old person who wants to pay less than 300 euros per year

For 299 euros a year, you could have a compensation of more than 200,000 euros.

  1. A 55-year-old person who wants to hire 100,000 euros

The best price is 351 euros per year.

  1. A 60-year-old person who wants to pay less than 200 euros per year

For less than that amount, you would get a capital of more than 38,000 euros.

Life insurance is not expensive.

Suppose you were wondering how much life insurance costs; you already know how to get the answer. Take a look at our comparator and choose the features that best suit you and, of course, your budget. You do not need to make large outlays to protect yourself and yours: check it out!

Total Views: 45 ,
By Daniel Lincoln

Daniel Lincoln is the founding member and Manager of Multiple Websites for First SEO Paper, also the owner of high-level quality sites focusing on General Categories only.

Leave a Reply

Your email address will not be published.

Related Posts

  • What Is Stopping You From Buying Original Handmade Rugs? Break The Myths!

  • G2A Games Review

  • How to Choose the Best Gaming Laptops

  • The word Zakat comes from the Arabic root Zakaaha