Turner Insurance News • October 1, 2018
Life insurance can be a touchy subject for many people. Talking about the possibility of one’s untimely death and what loved one’s will do if you are no longer here can be uncomfortable, however, if you have dependents who rely on you financially to survive, you need life insurance, especially as an expat living in Spain!
For many expats, in order to survive in Spain they need to start their own business, as local jobs are hard to come by and often low paid. In the event that one of you passed away, could you continue to earn a living or live at the same standard as before?
Life Insurance explained…
There seems to be a lot of confusion around life insurance and what it actually is.. Life insurance is a policy which will pay out an agreed sum to your family in the event of your untimely death. It is there to help your loved ones with financial expenses such as paying outstanding debts, mortgages, lost income, and planned educational expenses in the event you are no longer around. Life insurance gives you that peace of mind, that if you are gone, your loved one’s will be alright financially.
There are two main types of life insurance, Term Life Insurance and Whole of life insurance.