Death
The core cover: the sum insured is paid to your beneficiaries if the insured person dies from a covered cause.
Life insurance: peace of mind for the people you love.
Life insurance guarantees a sum of money for your family if you pass away or can no longer work. It’s one of the most important decisions you’ll make, and one of the easiest to get right with good advice.
Life insurance
What is it?
Nobody likes to think about the worst, but planning for it is a way of looking after the people who depend on you. Life insurance pays an amount of money, the sum insured, to the people you choose (the beneficiaries) if the insured person dies. Many policies also cover disability.
That money can pay off a mortgage, maintain the family’s standard of living, fund the children’s education, or simply give everyone time while things settle.
The key is choosing the right amount, cover and beneficiaries, and reviewing them when life changes: a move, a new mortgage, a new child.
Main cover
Accidental death
Many policies double or triple the amount if death is caused by an accident or a traffic accident.
Total permanent disability
If illness or an accident stops you from working in any profession, the sum insured is paid to you.
Critical illness
Some policies pay part of the amount in advance after a serious diagnosis, so you can focus on treatment.
Extra services
Second medical opinion, legal advice or online wills, depending on the insurer.
Exact cover, limits and conditions depend on each insurer and policy. I’ll explain them before you sign.
Types of life insurance
Term life
The most common: you protect your family with a sum insured in exchange for a premium, usually renewed every year.
Mortgage life
The amount covers what’s left on your loan. Your bank may require it, but you don’t have to take the bank’s own policy: you can choose another with equivalent cover.
Level premium
You pay the same premium for several years instead of one that rises with age. More predictable long term.
Savings life
Combines protection with savings or investment. We only consider it if it fits your goals.
Real-life examples
Illustrative examples of how this insurance works day to day.
A 25-year mortgage
Ana and Marcos buy their first home. They take life cover large enough to pay off the mortgage and, by comparing outside the bank, pay noticeably less each year.
A single income
In Pedro’s household only his salary comes in. His policy ensures that, if he died, his family could keep the home and the children’s education going for years.
Disability after an accident
After a serious accident, Lucía can no longer work. Her total permanent disability cover pays the sum insured to her so she can reorganise her life.
It’s for you if…
- You have children or people who depend on your income.
- You have a mortgage or significant loans.
- You’re self-employed and your family depends on your business.
- You want to leave everything organised and free of burdens.
Before you sign, check this
- 01
The right amount
Too little doesn’t protect; too much makes the premium expensive. We calculate it from your debts, income and family expenses.
- 02
Beneficiaries
Naming them clearly avoids paperwork and disputes. Review them whenever your family situation changes.
- 03
The health questionnaire
Answer accurately. An omission can complicate the payout when it’s needed most.
- 04
Exclusions
Risky sports, certain jobs or the first months of the policy may come with special conditions.
Key terms to know
- Sum insured
- The amount the insurer pays if a covered event happens.
- Beneficiary
- The person or people who receive the payout.
- Policyholder (tomador)
- Who takes out and pays for the policy. Can be different from the insured person.
- Premium
- The price of the policy, usually annual or split into monthly payments.
Frequently asked questions
Do I have to take my bank’s life insurance for my mortgage?
No. The bank can require life insurance, but you can take it with another insurer as long as the cover is equivalent. It’s often much cheaper.
How much cover do I need?
A common reference is to cover outstanding debts plus several years of family income. We fine-tune it with your real numbers.
Can I change the beneficiaries later?
Yes, you can change them at any time by notifying the insurer.
Can I cancel it?
Yes. With term life you can simply not renew. I’ll show you how to switch insurers without losing protection.
How we do it together
- 1
Tell me what you need
A short call or a quick form. No obligation.
- 2
I prepare your comparison
Several options side by side, with what each one covers.
- 3
You choose, calmly
I answer your questions and handle the paperwork.
Your advisor · Gabmel Contreras
Shall we work out your life cover?
With a few details I’ll suggest the right amount and several options to compare, with no obligation.