There are many who associate life insurance with a product to protect you when you have family responsibilities, as a spouse or children. Nothing is further from reality. Although it is true that one of the objectives is to guarantee the economic well-being of those we love most, this objective is compatible with what should be the main one, our own protection and that of our heritage.
We must not forget that a good life insurance covers a contingency as important as disability and, therefore, the beneficiaries of the economic benefits are ourselves, the policyholders. Economic benefits that in these circumstances are even more important. For all this, life insurance is based on all circumstances as we explain.
Having adequate economic protection in case of disability is essential for two reasons: having more expenses and having a significant reduction in income.
For the first point, having a disability, although it will depend on the degree determined by the Tr, multiplies the medical and assistance expenses, especially if the care or help of a third person is required. It should also be added that these expenses can be very long term, so even if they involve small extra monthly disbursements, their overall cost can be very high.
For the second point, revenues are drastically reduced. Although there are differences in economic benefits in case of absolute permanent disability and high disability, all are calculated according to your contribution bases and with maximum ceilings that in most cases entails a significant decrease in income. This fall is especially important in one of the groups, the autonomous . The majority of self-employed workers (85% according to the latest calculations) contribute for the minimum base, so an absolute permanent disability pension, in which 100% of the contribution base is charged, this amount will be slightly above 900 euros currently. All this when current expenses do not decrease.
We always have someone nearby
Although we do not have children, we have close friends or relatives whom we surely help, providing work and time, now and especially, in the case of parents, more in the future. For example, if you have a home with a mortgage, life insurance will be used to cover that debt and be able to inherit the property without charges or simply for your care when you reach old age.
Life insurance also guarantees this help to those closest to you, if only from an economic point of view for when you need it most.
For all these reasons, even if you are single and do not have family charges, life insurance is one of the fundamental forecast products to ensure your present and future.