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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WHAT REASONS CAN CLAIM AN INSURER TO REFUSE PAYMENT OF LIFE INSURANCE?

WHAT REASONS CAN CLAIM AN INSURER TO REFUSE PAYMENT OF LIFE INSURANCE?

If the terms of the contract are met, collect life insurance compensation not should be no problem. But, in some cases, it may be the circumstance that has not met any of the terms or given circumstances why the insurance company reject the claim of the beneficiaries of life insurance.

Then we will see what are the reasons for which an insurer may refuse to pay the insured capital.

Cases in which an insurer may deny payment of life insurance

• POLICY MATURITY

If they have been paying life insurance fees, the insurance contract ceases to exist. Stop paying insurance fees may be due to many reasons, but regardless of the reason, if the fee is not paid by the deadline occurs the maturity of the policy and the beneficiaries will not have right to collect any kind of compensation, and all the amount paid previously shall be in favour of the insurer.

• FRAUD

When the insurance company detects that there may be some kind of fraud for part of the insured or beneficiaries it shall reject the payment of compensation. This fraud can range from providing incorrect data about the State of health (pre-existing illness) or the economic capacity of the insured when the policy, was contracted to alteration of the reason for the death of the insured, among others.

• DOCUMENTATION ERRORS

Some errors in the official documentation may be the refusal of the payment of the capital locked in life insurance. It is the case of the death certificate, an official certificate that must be duly completed by the accredited personnel. Also the lack of provision of the required medical documentation may result in the rejection of the claim by the insurance company.

• DEATH BY SUICIDE

Death by suicide is not always included in life, and in your case, this type of contingency have a deficiency of a year that will prevent the collection of policy not fulfilled.

• DEATH OF THE INSURED CAUSED BY THE BENEFICIARY

If the death of the insured is voluntarily caused by the beneficiary the insurance company will not pay the insured capital.

• ARMED CONFLICTS:

If the death occurs in the course of a war the insurance shall be paid the insured capital.

• PRACTICE OF EXTREME SPORTS:

If not you have declared that you participate in competitions of bike cycling or motoring, aerobatics, parachuting, diving, montanista more than 3,000 meters, toreo... and you pass the insurer can refuse delivery.

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WHAT IS THE LAW OF REPETITION OF THE INSURER?

WHAT IS THE LAW OF REPETITION OF THE INSURER?

The law of repetition of the insurer is a concept of applies to the vehicle insurance. The right to repeat empowers the insurance company to claim the insured paid once the compensation, if a series of specific circumstances.

According to article 10 of the law of Civil liability and insurance in the vehicle driving motor, the insurer, after payment of compensation, may be repeated:

1. Against the driver, causing vehicle owner and the insured, if the damage was due to the fraudulent conduct of any of them or driving under the influence of alcoholic beverages or toxic drugs, narcotics or psychotropic substances.
2. Against the third party responsible for the damage.
3. Against the policyholder the insurance or insured, for the reasons laid down in the Law 50/1980, of 8 October, insurance contract, and, in accordance with provisions in the contract, in the case of driving the vehicle by who lacks the driving licence.
4. In any other event that could also proceed such repetition in accordance with laws.

The repetition of the insurer right prescribed after one year from the date on which the compensation was paid.

JOINT AND SEVERAL LIABILITY

But, what if, for example, the driver is not the policyholder?

The responsibility for causing driver incident, the owner in traffic, and the insured/policyholder, is solidarity. This means that such liability is applicable to all these people, so that all respond to the obligation, without the need for prior declaration of insolvency of the principal. Therefore, the insurer can go against any or all at the same time for their compliance. However, typically it is claimed in first against the causing actual loss.

RIGHT TO REPETITION OF THE CONSORCIO DE COMPENSACIÓN DE SEGUROS

The Consorcio de Compensación de Seguros may exercise the right to repeat in the same cases to other insurance entities.

The consortium may also repeat too against the owner and the person responsible for the accident in the case of an uninsured vehicle, or authors, accomplices or accessories after the fact of robbery or theft of use of the vehicle causing the accident, as well as against the person responsible for the accident that he knew of the theft.

EXCLUSIONS IN THE POLICY

So that the insurer can exercise their right to repeat, in the Voluntary Civil liability coverage or in the General exclusions of General conditions section you have to include the exclusion of the following facts:

• Those produced when the driver is intoxicated or under the influence of drugs, toxic or narcotic.
• Those produced when the proof of alcohol after the accident indicated rates exceeding the permitted for each type of vehicle.
• Those produced when the driver lacks does not have a driving licence or has broken the sanction of cancellation or withdrawal of the same (with the exception of provisions for children under age in the expansion of liability assurance).

RIGHT TO REPETITION IN THE EVENT OF NON-DECLARED DRIVERS

The room of the Civil of the Supreme Court recently issued a judgment, dated November 20, 2014, why the void clause in a contract of car insurance by which does not cover in case the vehicle drives it to anyone under 26-year-old undeclared in the policy.

The judgment applies the law 21/2007 reforming the Royal Legislative Decree 8/2004 approving the law on civil liability and insurance in the circulation of motor vehicles.

Until the Reformation, you could exclude coverage, in the compulsory insurance, for the reasons outlined in the law and by those others which are designated in the contract. In this way, the insurance company could introduce additional limitations that exclude coverage. However, with the reform possibility of exclusion of coverage, for reasons provided for in the insurance contract itself disappears.

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DO YOU COVER SENIOR CITIZENS HEALTH INSURANCE?

DO YOU COVER SENIOR CITIZENS HEALTH INSURANCE?

It is no secret: as you get older it is harder to take out health insurance. And when I say old I mean not to have 70 or 80 years. Having 60 or 65 years is already being very old for health insurance. In fact, if you've already reached that age it is very difficult to take out health insurance. Another thing is that already have contracted insurance for years. In that case, it is easier to get to renew it yourself, although it all depends on the features of your policy, antiquity, coverage’s, etc.

HEALTH INSURANCE COVERAGE

 For those older than 60 years

Some insurers not renew the policy when they reach a certain age, canceling it automatically. Age may vary: some cancelled it at 60 or 65 years, and some can reach up to 75. Therefore it is very important to keep this in mind when choosing health insurance, because when you're young you choose a cheap company (which are which usually cesar renewals before or further increase the premium with age) and then decide to change to another that extend you more renewal, even if you never get old, if you have a pre-existing condition won't get you ensure that.

On the other hand, from the age of 60, members meet some coverages to disappear. In some cases, can the company to reject the renewal of the policy. This may seem cruel and unfair at first, but something similar happens with life insurance. At the end, and after all, the risk increases with age.

One of the coverage that can disappear is hospitalization, including only the medical box. It also likely that only medical picture is offered with co-payment.

Separate issue is the issue of price. If it secures access to renew the policy, this can be increased in price over the years, and also increase the co-payment rates.

SPECIFIC HEALTH INSURANCE FOR THE ELDERLY

Some insurance companies have designed specific health policies for persons older than 60 years. This type of policy can be very interesting for people who do not renew them health insurance or want to hire one for the first time.

Health for senior insurance are more expensive, of course. However, to offer a very interesting feature: the medical box usually include supervision by a specialist in geriatrics. In terms of coverage, insurance often include access to the specialties most relevant to seniors, as well as diagnostic tests and surgery. In addition, they also tend to include coverage for hospitalization, which is subject to co-payment and includes a grace period.

The maximum age of these health insurance for the elderly is usually 80-year-old. In addition, from the 70 can be excluded or reduced certain coverages.

RELIANCE INSURANCE

Attention deserves consideration of insurance unit, a policy that only covers the costs caused by the loss or reduction of personal autonomy.

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WHAT IS THE COMMITMENT TO PENSIONS?

WHAT IS THE COMMITMENT TO PENSIONS?

Pension commitment is a concept coined by law 8/1987 plans and pension funds. This law was repealed, and replaced by Royal Legislative Decree 1/2002, by which the recasted text of the law of regulation of plans and pension funds was approved. This law defined what was meant by commitments for pensions.

Pension commitments are those commitments arising from contractual or legal obligations of the employer with the personnel of the company and linked to the contingencies set forth in article 8.6., such as retirement, disability or death. It is not necessary that pension commitments include coverage of the three specified contingencies, but that it is enough with any of them. In any case, these pensions may take any of the forms set out in article 8.5, i.e. provision in the form of capital, income or mixed. 

In addition, you will understand every provision which is intended for coverage of such commitments, whatever that is its name.

OBLIGATION OF OUTSOURCING OF PENSION COMMITMENTS

Employers are obliged to outsource these commitments by pension through the hiring of a pension or insurance plan since the promulgation of the regulation on the implementation of the commitments by pension companies with workers and beneficiaries, RD 1588/99. This regulation ordered the companies to maintain commitments for pensions with their workers to outsource them before January 1 of the year 2001, including benefits caused.

These commitments by pension can get through sectoral collective agreement, collective agreement of company or individual agreement with the employee.

Until the promulgation of this regulation was very common Spanish companies to maintain internal accounting reserves to meet these commitments. But done this way, were difficult realization, mainly those related to retirement. This generated serious doubts in order to secure commitments for pensions if the company is declared insolvent.

Two products can be used to outsource the commitments for pensions: pension in the form of employment or collective life insurance plans.

All companies resident or established in national territory, including public enterprises and entities of public law, which have assumed any obligation pension with its employees, are forced to outsource the commitments for pensions, including both workers active, inside and outside of Spain, such as retirees or beneficiaries of such benefits.

In addition, it affects not only legal persons, but also the physical count with employees who have made these commitments with them.

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WHO PAYS FOR THE DAMAGE CAUSED BY A CAR WITHOUT INSURANCE, UNKNOWN OR STOLEN?

WHO PAYS FOR THE DAMAGE CAUSED BY A CAR WITHOUT INSURANCE, UNKNOWN OR STOLEN?

The Consorcio de Compensación de Seguros should be responsible for compensation, with the same economic limits of the assurance of obligatory subscription in the following cases:

• Personal injury insurance occurred in Spain, in cases in which the causal vehicle is unknown.

• Damage to persons and goods, caused with a vehicle which has its usual parking in Spain, as well as the damages caused within the Spanish territory to persons with habitual residence in Spain, or to its property property situated in Spain, with a vehicle with parking in a third country not signatory to the agreement between the national insurance offices of the States members of the European economic area and other associate States; provided that the vehicle is not insured.

• Damage to persons and property caused by a vehicle with regular parking in Spain that is secured and has been subject to theft or theft of use.
• In cases that there is controversy between the Consorcio de Compensación de Seguros and the insurance company about who must compensate the injured person
• Damage to persons and goods when the Spanish insurance company of the vehicle with regular parking in Spain had been judicially declared bankrupt or having been dissolved and being insolvent, it is subject to a procedure of liquidation intervened or this would have been assumed by the consortium itself.
• Refund satisfied compensation to affected residents in other States of the European economic area by the agencies for compensation, in the following cases:
• When causing the accident vehicle have this operation usual in Spain, in the case that you can not identify the insurance company.
• When the accident occurred in Spain, in the case that you can not identify causing vehicle.
• When the accident occurred in Spain, in the case of vehicles with regular parking in third countries adhered to the system of international certificate of automobile insurance (hereinafter, green card) and can not be identified to the insurance company
• Damage to persons and property arising from accidents caused by a vehicle imported to Spain from another Member State of the European economic area, provided that the vehicle is not insured and the accident occurred within the term of 30 days counting from the buyer accepted the delivery of the vehicle.
• In the event of no assurance and theft, are excluded from compensation for the Consortium on persons and property suffered by persons who occupy the vehicle that caused the accident on a voluntary basis, and that they knew that the vehicle was not secured or that had been stolen, provided that the Consortium proved that they were aware of such circumstances.

Claim compensation to the Consortium for damages suffered in a traffic accident by a car without insurance, or unknown

Then we will see what we can claim to the Consortium in case of accident caused by a car without insurance and how:

MATERIAL DAMAGE

To claim damage should present the communication of loss and a photocopy of the identity card of the injured person and beneficiary of the compensation - if they don't match-. It should also be present bank details, the crowded and the budget/invoice of repair

PERSONAL INJURY

To claim personal injury, in addition to the above, you must present the communication of loss, a photocopy of ID card of the injured person and beneficiary of the compensation - if not match - and bank details, as well as the parts of low/high medical-hospital, a report from the coroner or, in absence thereof, of the Medical Center and an original Executive car or copy authenticated by the Court

IN CASE OF DEATH

In the case of fallecimeinto, must submit a certificate of last wills, the Testament or, in the absence of Testament, a declaration of heirs or act of notoriety.

In case of accident caused by an unknown vehicle, damages are covered. Personal injury and death follow the same precepts.

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WHAT TO DO IN CASE OF TRAFFIC ACCIDENT

WHAT TO DO IN CASE OF TRAFFIC ACCIDENT

Nobody likes to think about what would happen in case of a traffic accident, but is vitally important act correctly, by the criminal consequences which could have both personal safety, as well as to be able to use our car insurance coverages and collect the relevant compensation.

Firstly, it is necessary to mark the place of the accident with the obligatory triangles and set up the four indicators of the vehicle. This will prevent problems with other drivers. Once marked, should call accident forces and security bodies at la Guardia Civil (062) and / or to emergency Center (112).

In addition, people who can leave by their own means the vehicle must be reflective vests if they are accessible to more visible.

ACCIDENT WITH INJURIES

Where there are wounded, the main premise is to not move the person, which must only move in case of imminent risk of fire or explosion of the vehicle, or in other circumstances where common sense dictates that you we must remove as soon as possible to the person of the vehicle. In any case, should keep the person with heat and waiting for the requested help.

ACCIDENT WITHOUT INJURIES

In the case that the accident does not produce victims and there is only property damage, involved drivers must fill the friendly Declaration of accident, with versions that are or not matching. Where they are unwilling to do so, should wait for the Civil Guard to lift the crowded the accident.

PRESENTATION OF PAPERS TO THE INSURANCE

Once made the papers, drivers should communicate the accident to your insurance company. The driver not responsible for accident insurance communicates the loss to a computer system called CICOS and proceeds to repair your insured vehicle or to pay damages which would have when you get the conformity of other company.

The insurer of the guilty driver pay module (amount per event, regardless of the actual cost) to the entity of the driver not guilty.

If injuries or fatalities have been produced, on the back of the friendly Declaration of accident exists to provide other supporting evidence or to be important, such as information about the injured in the accident. In the event that this statement is not available, a letter is sufficient. In any case, it is necessary to attach the certificate provided by the Civil Guard.

HEALTH CARE

If necessary medical and hospital assistance, this is always provided. Then insurers are responsible for payment to hospitals that have treated the wounded the economic cost of such medical care according to the agreements reached.

EVALUATION OF PERSONAL INJURY

The assessment and repair of personal injury is one of the main problems that faced the insurance, due to the complex evaluation they need and the diversity of consequences that can be derived. For the assessment of such damage is called system for the assessment of the body damage in a traffic accident, called scale, and is enshrined in the law of Civil liability and insurance in the circulation of vehicles to Motor.

The scale is mandatory and is the best guarantee for two equal injuries are compensated according to the same economic valuation, whether they have occurred in different places or that have been processed by different jurisdictions. The scale is updated annually based on the CPI.

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WHAT IS THE FIRST RISK INSURANCE?

WHAT IS THE FIRST RISK INSURANCE?

The first risk insurance is a form of insurance from home that can be very beneficial for the insured in some cases and, in any case, simplifies the claim for compensation in case of loss or theft. The first risk insurance ensures a certain value to which the insured is cubierto1, regardless of the total value. This allows you to know at all times what will be the compensation without that applies the proportional rule, that is the formula that applies in case of accident insurance company when policy is capable of underinsurance.

Home to first risk insurance can be done on the continent and on the content, and can be combined in other insurance or insurance for the full value.

FIRST VENTURE ON THE MAINLAND HOME INSURANCE

The first venture on the Mainland home insurance are very interesting when the community of neighbors already have insurance. The first risks on the Mainland insurance allows the insured have covered what the community insurance does not contemplate in the policy.

In these case, the first risk insurance is made by capital less than the total value of the continent, since this is already included in the policy of the community and is made simply to make sure that everything is covered.

This first comprehensive insurance on the Mainland is also very suitable for people who have a House for rent. This type of insurance very appropriate when you have a property for rent to be able to solve quickly any incidence that they do not charge the owner of properly (well because does not have insurance, well because it ignores, well because the insurance company's owner puts obstacles, etc.).

FIRST VENTURE ON CONTENT INSURANCE

Insurance first venture on the content have the same advantage that in the case of the continent: not to apply the proportional rule, in case of loss or theft, it compensated with a quantity fixed in advance. Usually ensure a first venture jewelry and works of art, provided that these have a value greater than 1600 euros or its value exceeds 10% of the total insured. For these cases there are specific insurance. They are also often reassure first risk appliances, furniture and electrical appliances.

ADVANTAGES AND DISADVANTAGES OF THE FIRST RISK INSURANCE

The main disadvantage of the first risk insurance is that it does not charge compensation for the full value, but it is charged only up to the amount insured in each case. There are cases in which can get more cost-effective than applying the rule of proportionality, and is also much faster.

WHAT AND WHO INCLUDES THE FIRST RISK INSURANCE

The first risk insurance covers both the insured and their spouse. It also includes both parents if they live with them and it can be demonstrated that they are economically dependent, as well as to the children of the insured who live with him up to 26 years of age.

In addition, the first risk insurance also covers damage to third parties, with the payment of the compensation corresponding to handicapped persons and the payment of the legal costs in the event that you need legal defense, as well as bail to ensure civil responsibility towards third parties.

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SICK LEAVE FOR SELF-EMPLOYED INSURANCE

SICK LEAVE FOR SELF-EMPLOYED INSURANCE

Self-employed workers face a difficult reality before the sick leave and periods of temporary disability. Social security and the forecasted attendance allowances not usually suffice to cover the expenses and needs of self-employed, and more for those listed for the minimum (which most are), independent of the level of income that have.

There are currently two types of Social Security benefits case of sick leave. On the one hand, they are the common contingencies (IT), for common diseases and no accidents. On the other hand, they are professional contingencies, concerning occupational diseases (EP) and the job (AT) accidendentes

COMMON CONTINGENCIES (IT) FOR SELF-EMPLOYED

Since 2008 it is compulsory to quote for common contingencies for all self-employed workers, except for the economically dependent, that they are in a situation of multiple (and they traded simultaneously under another procedure) and the included in the special scheme for self-employed agricultural workers, for whom this quote is voluntary.

According to this, so that an autonomous to collect the allowance of IT you must meet the following requirements:

1. be high (or equivalent situation at discharge) 
2. have quoted a minimum of 180 days during the last 5 years
3. be current in the payment of dues

OCCUPATIONAL CONTINGENCIES (EP+AT) FOR SELF-EMPLOYED

Quote for occupational contingencies is voluntary, except for the autonomous economically dependent and which carry out a professional activity with a high accident rate.

It is important to highlight that itinerant produced accidents (displacement from home to work and vice versa) are not considered industrial accidents, as it is the case with the workers employed, except for the economically dependent self-employed. These accident are considered non-work-related accidents and are covered by the common contingencies.

SICK LEAVE OF THE SELF-EMPLOYED WORKER

In case of a sick leave for common contingencies, an autonomous charge between 4th and 21st day compensation calculated on 60% of its contribution, and from the 21st day 75% base. In the case of the minimum contribution base (875,70 euros in 2014), this means 17,51 euros per day during the first period and 21,90 EUR for the second.

If low or temporary incapacity occurs by a professional contingency, only be charged those freelancers that are listed by this concept. For this contingency, is charged from the second day over 75% of the contribution base, which represent 21.90 euros in the case of quote for the minimum.

The maximum period to collect these subsidies is 365 days, which is may be extended another 180 days if expected to cure in this last period.

INSURANCE FOR FREELANCERS

According to the above, a stand-alone sick leave would have to survive with 656 euros gross from the second month. But it would have to continue to pay its share of self-employed, your fixed expenses, etc.

To this situation, many workers have chosen to hire insurance sick leave compensation total depending on the type of accident or specifically designed for them, with fixed indemnity per day not worked.

The first is well suited to collect an additional daily amount in addition to the Social Security, allowing thus have a more realistic and appropriate to the needs of real income. The second is very appropriate to compensate for work that can not be and, therefore, the reduction in income, without the need of having to stop working, doing other things that it can be done and, therefore, without asking low labor.

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WHO IS THE BENEFICIARY IN DEATH LIFE INSURANCE?

WHO IS THE BENEFICIARY IN DEATH LIFE INSURANCE?

The main purpose of life insurance is to ensure capital to cover unexpected situations and ensure the economic tranquillity to the insured and their families.

WHAT MEANS TO BE A BENEFICIARY OF A LIFE INSURANCE

When life insurance is contracted for death cases, the beneficiary is the person designated by the insured to receive payment of the benefit insured in case of death.

It should bear in mind that anyone can have a life insurance beneficiary status, since it is the insured which designates it, regardless of which have relationship with the insured or not.

DESIGNATION OF BENEFICIARIES

The beneficiaries may be designated by the insured expressly (when the insured appoints them with names and surnames.) and generic (when the insured does not make the designation referring to specific individuals, but that only indicates its kinship, for example: children, spouse, heirs, nephews, etc.).

When the insured has not designated to the beneficiaries of life insurance contract nor generically or expressly applies the order of relationship established in the policy as it appears in the membership newsletter, which had to sign the insured to take the insurance of life and in the issued certificate. According to this order, first of all, the beneficiary would be the surviving spouse.

If you are missing, the beneficiaries would be the surviving children of the insured equally. If you have children or not being alive, the beneficiaries would be the parents of the insured (to equal parts or the survivor by all). Failing that, the legal heirs of the deceased would be the beneficiaries of life insurance.

At any time you can change or modify the designation of beneficiary or beneficiaries of life insurance while the policy is in force. There are two ways to do so: can be done by means of communication written to the insurance company or insurance mediator, or indicating expressly in the Testament.

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WHAT IS SOLVENCY II AND HOW IT AFFECTS CONSUMERS

WHAT IS SOLVENCY II AND HOW IT AFFECTS CONSUMERS

In recent months it has heard much of Solvency II. For the professionals of the sector, this is not anything new, but for the rest of us may be a term 'rare' and even alarming. In this article we will explain in a simple way that it is that of Solvency II and, above all, how it affects us consumers from insurance.

From 1 January 2016, Solvency II is the new system of risk assessment and calculation of capital requirements for insurance. I.e., Solvency II is the new system of solvency, which is based on risks, i.e., where the risk profile is the key element. Because the risk exists, it is not something invented to sell more insurance. In fact, if there were no risk there was no business for insurers.

Change bringing Solvency II is not related with the definition of risk, but with the management of that risk. It is an innovative system that seeks to optimize the value/risk using integrated management systems with the aim of seeking better trained and more solvent entities.

In this sense, Solvency II aims to provide the sector of insurance and reinsurance in an updated regulatory framework enabling companies to reduce risks, increase its competitiveness and improve the products offered.

Solvency II is built around three pillars: quantification of risks, qualification and evaluation and dissemination and transmission of information between regulators and customers.

SOLVENCY II DOES BENEFIT CONSUMERS

Solvency II benefits insurance companies, despite the hard work that must be made to adapt, is a fact. But, we also benefit consumers?

The truth is that Yes, Solvency II also benefits consumers, since that it makes the risk management is a transparent process. In a moment in which citizens and consumers are calling for greater transparency in all matters that affect us, Solvency II comes to respond to that demand.

This transparency will favour that there is more and better information, in addition to more and better competition. And is that much more information has held operations of insurers, more clear, the consumer will be what are the best companies, both in regards to products as to rates and services.

The fact that Solvency II establishes criteria for the management of the risk of insurance companies, will make their products more reliable and appropriate to the needs of the consumer.

These are some of the objectives pursued by Solvency II that will favor the consumer:

1. Reduces the risk to an insurer that may not meet claims.
2. If a company that is unable to meet the demands are reduced losses of the insured.
3. If the capital falls below the required level supervisors will be notified so that they intervene.

Thanks to these measures, the insurance sector will gain confidence and stability, and the consumer will get more guarantees regarding the products you hire.

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