DO INSURANCE COMPANIES COVER THE CONSEQUENCES OF TERRORIST ACTS?

DO INSURANCE COMPANIES COVER THE CONSEQUENCES OF TERRORIST ACTS?

After the sad events that took place in Paris last November 13, there are many who wonder if insurance will cover the expenses caused by the terrorist acts. In situations like these there is that regret multitude of damage personal and materials.

Who takes care of medical expenses and, if necessary, repatriation of wounded or deceased? Do all material damage cover insurance? Does the coverage of death by any cause of life insurance include terrorist acts? We addressed these and other questions here.

LIFE INSURANCE AND TERRORISM: COVERAGE OF DEATH BY ANY CAUSE

In theory, any cause is that, any cause. However, as life insurance is concerned, any reason is a somewhat narrower concept. This does not mean those who have contracted life insurance do not have coverage in terrorist attack. In this case, compensation is responsible the Consorcio de Compensación de Seguros.

As they reported in Belt.es in July 2005, the massive terrorist attacks who had suffered in Europe and North America gave rise to the transformation of the insurance industry worldwide. In Spain, given the magnitude of the tragedy and the magnitude of the terrorist threat the international reinsurance companies decided to refuse to continue to assume the life insurance in the event of a terrorist attack in Spain after the attack of 11 March 2004 in Madrid. And without international reinsurance, the cost is so high for national companies that the private insurance sector requested the Government not continue to assume these policies.

The Ministry of finance accepted and since 2006 the coverage of such risks is the responsibility of the Consorcio de Compensación de Seguros.

CONSEQUENCES OF TERRORIST ACTS AND OTHER INSURANCE

As you can read on the page of the Consorcio de Compensación de Seguros, in the section 'Covered risks', paragraph b, covered damage violently as a result of terrorism, rebellion, sedition, mutiny and popular tumult.

Moreover, with the entry into force of law 29/2011 September 22, recognition and Integral Protection of the victims of the terrorism, is the Administration who faces the damage and injuries suffered by victims for terrorist acts, being the Ministry of the Interior who must deal with complaints. This law aims to redress to victims through compensation and aid for personal or material damages that have been able to suffer.

MEDICAL CARE, REPATRIATION AND TERRORISM

In Spain, the victims urgent care, done through the national health system and, according to the law 29/2011 cited above, regulate the financial aid in prostheses, surgical operations and medical expenses in the amounts that are not covered by welfare systems that have victims.

Outside of Spain, each country has its own system, so what is good always travel with insurance to cover medical care in the country to which you travel, and if it is a country of the European Community, remember to obtain the European health insurance card.

Repatriation coverage can enroll in life insurance, health insurance, travel insurance and death insurance. In addition, you can hire a repatriation insurance. But, what if you don't have this coverage contracted in any of your insurance and suffer the consequences of a terrorist act? In general, the Government takes charge of the repatriation in extreme cases, such as terrorist acts.

SPECIAL INSURANCE COMPANIES AND THE INSURANCE FOR TERRORISM

As a result of the aforementioned attacks in Paris, the German insurance company Allianz announced it expects an increase in demand for insurance for terrorism, as it took place after the attacks of September 11, 2001 in New York.

Allianz, which has qualified limited the financial damage that will have for the German insurer Paris bombings. This is due to that damage from terrorism in France are covered by the reinsurer Gareat, as in Germany by the special insurance company Extremus, which was created by German insurers since the attacks of September 11, 2001 in New York to ensure damage by terrorism in Germany, and she also participates Allianz, which covers claims up to 2,500 million euros , amount that should be insufficient would increase to 7,500 million euros

As reported by the German insurer, from the Arab spring there is a growing interest in these special insurance, Allianz offers from May to other countries that are not Germany and France through a policy of industrial insurer Allianz AGCS.

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UP TO WHAT AGE CAN YOU HIRE A FUNERAL INSURANCE?

UP TO WHAT AGE CAN YOU HIRE A FUNERAL INSURANCE?

Obviously, as we age, the likelihood of death is increasing. By that them safe of life have an age maximum of procurement, that varies, depending on the coverage and the insurance. Most often the boundary between 60 and 70 years. Same happens with funeral insurance?

First, remember that a funeral insurance and life insurance have little in common, except that they are activated at the time of the death. In fact, they are very different products. In the case that concerns us, while life insurance may not be charged if he survives to age, the funeral insurance will activate sooner or later (as long as the corresponding premiums have been satisfied).

The question that really interests us today is up to what age you can hire a funeral insurance and if you can hire overcome age that normally allow other insurance, such as life. More specifically, a retiree can insurance of deaths to 65 or 70 years?

Taking into account the increase in the risk, as we said at the beginning, it is easy to think that perhaps at this age insurers aren't willing to make to anyone. In fact, this age not only not you can hire a life insurance, but it also you can hire a private health insurance (unless the person take secured a while with the company).

In the case of funeral insurance is different. Although each insurance company is different, the truth is that some companies that allows you to buy certain deaths from age 65, but in certain conditions, as it can be expected. Taking into account that the life expectancy in Spain more than average 80 years (although that greater in women than in men) and that this figure increases each year, it stands to reason that it still is apart from this type of insurance contract.

A curious fact, did you know that life expectancy has increased to 40 years in the last century?

Following search with the subject that concerns us, we will say that, beginning at age 65, insurers only allow to hire a funeral insurance single premium. What is this? We see it then

FUNERAL INSURANCE FOR THE ELDERLY

There are four types of bonuses that can be applied or hire in the insurance market deaths, which are: level premium (the insured pays the same premium each year throughout his life), natural raw material (to carry years premium increases), mixed premium (as it increases the age premium is doing at the same time until it reaches a certain age and becomes constant) and single premium (all the premium is paid in a single payment).

As it stands to reason, the ter first types of bonuses, taking into account the risk, they would be profitable for the insurance company.

The fact that the contracted funeral insurance from age 65 only to single premium implies a high cost of insurance, compared to the rest of insurance. As it is to be expected, as age increases, also increases the premium, and can reach a point where no insurer accepts the hiring of a funeral insurance.

In this sense, it is worth highlighting the importance of a funeral insurance contract arise if 65 or 70 years if it has not already. Perhaps the premium is high, but only paid once, the advantages are many, since you can forget about what will come after (rises of CPI, return receipts, etc.) and your family will have an issue resolved in a moment as hard as it is the lose a loved one.

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WHAT YOU SHOULD KNOW BEFORE HIRING A CAR LOAN-LINKED INSURANCE

WHAT YOU SHOULD KNOW BEFORE HIRING A CAR LOAN-LINKED INSURANCE

How the mortgage or any other loan, when you apply for funding to pay for your car's raining you proposals for insurance of all kinds. For example, any loan or credit entity, surely the Bank or any other company credit, you offer life insurance linked to the loan. In the case of loans to buy a car, many banks also offer you that you purchase the insurance with them.

Before continuing, remember that it is not obligatory to hire any basic insurance more than insurance to third parties and that, in any case, life insurance linked to the payment of the loan is not obligatory, although highly recommended, which leads us to the next point. Do not forget that you can also purchase insurance with who you want and they cannot deny you the operation by not insurance, whatever it is.

NOT TO CONFUSE YOU

It is usual that the entity offers to which request funding a lower loan interest rate if you hire car insurance with them. This discount may appear interesting, although we must assess many aspects to decide whether, by comparing all the factors, really outweighs the savings in the loan, although it is more expensive to pay for it, in the end outweighs comparing insurance with insurance companies.

First, there are more options than the lender for the loan payment protection insurance. Even if you take a little time, it is worth review much secure a loan with an independent entity and, in case that you get a discount for purchase payment protection insurance, compare real savings.

On the other hand, in regards to car insurance, you must make numbers and see if the interest rate saving compensates you taking into account the price of the insurance. Also remember that not always hire a car insurance is a matter of price. If you are looking for is a basic insurance to a third party covering only the compulsory civil liability, surely most important is price. But if you want to hire an expanded third-party insurance or all-risk insurance you have to take many factors into account, review the coverages, conditions, limits and allowances, without forgetting the franchises in the case of all-risks insurance.

IF YOU HIRE AN INSURANCE, WELL SEE INSURANCE

The best way not to be "distracted" with car loan savings is to consider besides the car insurance, look at conditions and compare options. Keep in mind that it is one thing to save on the price of insurance for car and quite another is to "Save" benefits. If the price of the insurance is cheaper because it cuts benefits you must consider if what you offer is sufficient or if it is worth or not to pay a little more. The price comparisons must be done always with insurance under the same conditions, because only thus you'll find insurance cheaper in price without the "saving" a question of cuts.

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TIPS FOR HIRING A CAR INSURANCE IF YOU ARE UNDER 26 YEARS OLD

TIPS FOR HIRING A CAR INSURANCE IF YOU ARE UNDER 26 YEARS OLD

If you just take the driver's license and have less than 26 years old, it is very important to have in mind that the insurer will look at your case with Magnifier. But that doesn't mean that you can not get a good insurance at an acceptable price. The important thing is to do things well.

First, you must take into account that the price of the insurance depends on the car you buy. But that happens also to other drivers. The cylinder capacity, fuel type, number of doors, if the car is new or second hand, and even the chosen colour, they are factors of weight on the price of the insurance. Therefore, before you buy the car, compare prices, not only between the different insurance companies, but also between different types of vehicles to see the difference.

When you compare prices, you should keep in mind that not always the safe cheaper which will be more. Well check the coverage so your insurance actually makes you feel safe. In this sense, a basic insurance to third parties, i.e., which covers only the compulsory civil liability, may not be enough. Although it is slightly more expensive, it would be very interesting that you hire expanded third-party insurance, including coverage of theft, fire or breakage of moons. To learn more about this topic, I recommend that you read the article basic coverages that you should hire your car insurance.

A common practice is to ensure the name of the father or the mother of the insured car to come out cheaper. But keep in mind that, if the driver has less than 26 years old and is not declared as a driver, the insurer "wash hands" and will not give you coverage in certain contingencies. What many people do is hit the insured as it is, but there are times in which that, simply, not strained. This trick may be worth you for a coup in the garage or a small clash at a traffic light, but if you have an accident in which to do crowded or to which you have given does not accept in the friendly part data that are not yours, then you do have a problem with the insurance.

In any case, although the youngest 26-year-old appears as an occasional driver, in car insurance, the price of the insurance will increase. In addition, the parties will affect the claims of the holder, which will negatively influence their bonuses, so, you can save the 26-year-old child on the one hand can affect the additional cost or no savings in the renewal of the insurance of the owner, and not only on the car that leads the 26-year-old child. In other words, if that really is the youngest 26-year-old it will drive the car, saving for putting insurance on behalf of their parents not always compensate for economically.

In any case, should take into account that more and more are the insurance companies that offer specific insurance for young drivers in order to attract customers. If you drive well, these companies will offer you interesting bonuses in your insurance renewal.

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WHAT IS WHOLE LIFE INSURANCE?

WHAT IS WHOLE LIFE INSURANCE?

It is likely that you've heard about whole life insurance: what? What it differs it from normal life insurance? What advantages do you have? If you've done yourself any of these questions, want to the information we have prepared for you in this article in which we will respond to these and other questions about whole life insurance.

Life insurance is one of the modalities of insurance most popular in the people category. Whole life insurance aims to provide capital to offset the loss of income caused by the death of the insured to the person designated as beneficiary or even help the heirs a capital that can meet the costs of transmission of goods or guarantee the payment of debts or mortgages without having to resort to the rest of the inheritance that could have been perceived.

In this kind of life insurance, the insurer is obliged to pay a capital on the death of the insured regardless of the time in which it occurs. Against agreed provision may be in the form of income or capital and although it has a high risk component, also has a savings component.

The disbursement of the premiums in two ways can be in whole life insurance: lifetime premium, i.e., on a regular basis until the moment of death; either temporary premium, i.e., premiums are paid for a specified period, such as 20 or 30 years, although the insurance coverage extends until the incident covered is death.

If you do not know this type of life insurance is convenient to know that you it's a fairly popular insurance that many insurance companies offer what if finally thinking about acquiring one we recommend that you study well the benefits and prices that can offer you is that at the end, the best product will be one who can offer you many advantages at the lowest price.

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IS THE CURRENT PUBLIC PENSION SYSTEM SUSTAINABLE?

IS THE CURRENT PUBLIC PENSION SYSTEM SUSTAINABLE?

Many wondered if, as things stand, we will charge a State pension when us retirement, at least one decent pension that allows us, at least, survive without having to rely on others. But seeing that many retirees of today who have only their pension see and want them to make ends meet, the expectations are not very good, the truth.

If to this we add the opinion of the experts, the thing is to get to shake. In fact, Pilar González de Frutos, President of the employer's insurance Unespa, recently declared to the Cadena Cope that the current pension system is "unsustainable" with existing pension levels. These words did not make if not support statements made previously by the Governor of the Bank of Spain, Luis María Linde. Unespa President also recalled that the current pension is equivalent to 80% of the average wage. He also said that with the demographic trend of Spain "it won't be possible to keep it at that level".

According to Gonzalez of fruit, it is necessary to "sincere exercise of pedagogy with the citizens provided a serene debate on the future". Although it always is with what comfort, since, he said, pensions are contributors and "they will not disappear because they are a constitutional right, but they will be less".

Unespa President believes that the best solution to this is to combine the private with the public pension system, and reminds that there are examples in which found that the growth of private savings brings an improvement in public systems.

SAVING FOR RETIREMENT

But UNESPA President isn't the only one who sees black the future of public pensions. In fact, 71% of Spaniards believed that his generation will not have a public pension. And most think that if you receive it, it will not be enough. These are the Spanish study data before saving and retirement, Aviva Institute.

And you don't say anything if you're autonomous. According to a study from the University of Barcelona and VidaCaixa on SMEs and freelancers, that alert of the vulnerability of this group before retirement, more than 85% of the self-employed are listed by the minimum basis, implying that his pension not surpass the 635 euros per month, which is almost half that of the average salaried worker pension that is from 1.155 euros.

Faced with this panorama, the best choice is ignore Gonzales of fruits and start thinking about saving for retirement, because if we now believe that we we drowned, what awaits us in the future seems to be worse. So, if the flies, the better to schedule.

RETIREMENT SAVINGS OPTIONS

Facing retirement, there are various savings options, such as private pension plans or life savings insurance. Although there are more options.

When choosing among the different possibilities you have to take into account matters such as your ability to saving, taxation of the chosen mode of savings, and how not, the warranty of the entity that you hire.

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WHAT IS THE DIFFERENCE BETWEEN LIFE INSURANCE AND A FUNERAL INSURANCE?

WHAT IS THE DIFFERENCE BETWEEN LIFE INSURANCE AND A FUNERAL INSURANCE?

While life insurance and death insurance are policies that are activated with the death of the insured, the truth is that they are very different, and their coverage are different. Although both cover the same risk, the death of the insured, with a financial benefit, each insurance makes it differently.

Another point that life insurance and insurance of deaths have in common is that both are contracted to give things to the heirs and loved when the insured is missing. Although, once again, the guarantees offered by one and other insurance deal with different aspects.

The main difference between both insurance be refers to what type of delivery or services offered to the death of the insured. When a person hires a funeral insurance, the insurer guarantees the provision of funeral services and the costs generated by it. However, life insurance offers financial compensation for the death of the insured, which shall be received by the beneficiaries of the policy, and does not usually provide any type of service related to burial. However, some insurance companies offer products that include coverage of deaths that you can contract additional or complementary way.

One of the differences that exist between both insurance refers to the additional coverages. Funeral insurance tend to offer additional coverage related to the repatriation of the deceased, travel assistance for companions, travel expenses for the identification of the deceased, psychological assistance and conservation of DNA, among others.

Furthermore, coverage related disability following an accident, so the insured would take on in life insurance can be contracted with life insurance. With life insurance can also be ordered an advance payment of compensation to deal with payment of inheritance taxes and the burial costs. However, this would not include the realization of administrative formalities and other services included in the funeral insurance.

Regarding the reasons that lead to hiring one or other insurance, life insurance enables to protect the economic situation family to which the beneficiaries after the death or disability of the insured. Compensation allows you to deal with pending payments and various future issues, such as university education of the children, for example.

To meet the funeral expenses, if insurance is charged by the death of the insured, may be requested, normally an advancement. In any case, some insurance companies offer life insurance an additional coverage of deaths.

In what refers to the funeral insurance, the main objective is associated with everything that involves the burial. In this sense, this is immediate, and the family does not have to take any charge or you preocupares perform any procedure related to the funeral, more than notify the insurer. 

Life insurance you should review coverage and, where appropriate, apply for an advancement for expenses of burial. With funeral insurance, the beneficiaries do not have to worry about any management.

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WHAT DETERMINES THE PREMIUM FUNERAL INSURANCE?

WHAT DETERMINES THE PREMIUM FUNERAL INSURANCE?

One of the reasons why the insurance of deaths are one of the most popular in Spain insurance is because the premium that must be paid by the policy is not too high. However, as you might guess, this premium is not equal for everyone, and depends on many factors, being the more decisive the age of the insured and the rising prices of funeral services.

This means that, the greater the person who hires the funeral insurance, higher will be the premium, since older, higher risk of death. In relation to the costs of funeral services, insurance companies provide coverage to meet the costs of the burial according to what has been hired. In this sense, must be taken into account if the coverage offered, for example, free choice of funeral and cemetery, as well as another set of services that can be much expensive insurance.

TYPES OF PREMIUM IN FUNERAL INSURANCE

There are five types of premiums in the insurance market deaths, which depend on several factors. At this point should be emphasizing the fact that the insured can see that increasingly pays more. But the increase depends on what kind of bonus you choose. We are going to see it.

• PREMIUM LEVEL

The insurance premium level, the amount of the premium is stable in time. However, as time passes it can vary. The ascent can be justified for several reasons. One of them is the increase in the insurance, that time as must be updated so that it is not outdated. Another cause is due to the rates, which will grow over time and with the increase in the insurance.

The advantage of the level premium is that you distribute what you will pay for premium more evenly, so that, when you are over, the premiums are lower than that with the natural raw material.

As drawback, however, with this premium you pay much more than what corresponds to your risk when you are young, and if you change, you lose the rate you set when entering the company, thus losing what they have paid more (antiquity).

• PREMIUM NATURAL

Natural premium is a renewable annual premium. Unlike the level premium, the premium occurring increases with the time and cost of the service is more expensive. This is due to the risk and cost factors are taken into account for that year. As he passed time, increased risk and costs.

As advantages, is that with this premium you pay according to the real risk due to age, so, when you're young, you pay very little, and not start to notice a significant increase to approximately 60 years. However, as of this moment, premium rises considerably, although the age of 65-70 natural rates tend to equate to the level.

Despite everything, this mode has the advantage that you have complete freedom to change insurance and even company, peusto that this type of raw material does not accumulate seniority.

• PREMIUM MIXED

This type of raw material a combination between the level premium and the premium natural, so that during the first years premium has several rises until the insured meets an age determined (approximately 70). To file then, the premium of stabilizes and increases are minimal.

• PREMIUM SEMI

The semi mode is similar to the joint. It is also a combination between the level and mode of natural recruitment. The difference is the application of updates in the period in which works as a natural.

Thus, at an early age, the premium is reduced and increases with age until you reach the stipulated by the company from which the premium is level and becomes constant. Thus, in the first part of the contract, it would amount to the natural form.

• PREMIUM ONLY

The single premium is a type of contracting consists of obtaining the funeral insurance coverage of life with a single payment. It is especially aimed at people older than 65 or 70 years, for those who do not usually possible ordering another type of funeral insurance because of their age and, therefore, risk.

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