What is a beneficiary and is relationship with my life insurance?
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To take out life insurance, you are hiring the option to provide for the economic impact of your death, and it is usually done to protect some or some loved. These people will be chosen for you order to be financially protected in any circumstances of force majeure.
When you buy life insurance you have the obligation to assign one or more beneficiaries, this can choose you at the moment of insurance contract or later with a letter which must be delivered to the insurance company.
The beneficiary is the person who you choose as head of an indemnity which gives you your life insurance at the time of an unforeseen death.
Finally, you must inform that person of the existence of the life insurance policy, because in the event of any accident, have the knowledge of what to do.
There are different options that cater to the needs of everyone, offering different insured amounts, which in addition to providing protection to your family, offer a good alternative to savings.
Life insurance is the best way to take care of the security and stability of your family, because to have one, it will always be protected before any unforeseen and thus in case that one day do miss, they will have the financial backing needed to succeed and maintain their standard of living.