The purpose of personal insurance is to insure a person against significant risks, such as death, a disability or a serious illness. We have seen a significant increase in life expectancy over the past 50 years, but this trend has conceivably reached a certain plateau, because it has not changed for a few years. Both men and women have a life expectancy of over 80 years. Even though women have a longer life expectancy than men, the gap is narrowing so that there is only a 2 or 3-year difference.
We all know that we will die one day, that one in two people will get cancer during their lifetime and that one in seven people will be disabled before the age of 65.
Knowing these statistics are in real time, you must protect yourself against these risks according to your budget and your abilities. Know that insurance is part of good financial and estate planning and gives us peace of mind.
Let’s look at the different products on the market:
1- Life Insurance
a. It’s about protecting others when we die. We protect either human capital or financial capital as explained in the appropriate tabs for each. The choice of life insurance product will depend on several factors, including budget, age, family situation, assets and needs. The products available on the market are:
1- Temporary 5 years
2- Temporary 10 years
3- Temporary 20 years
4- Temporary 25 years
5- Temporary 30 years
6- Temporary 100 years
7- Universal life insurance
8- Whole life non-participating insurance
9- Whole life participating insurance
2- Critical Illness Insurance
a. This is a protection against a serious illness from which you survive that illness. It is a protection while you are alive. We can say that 75% of the claims of this policy involve:
2- Cardiovascular disease
b. This policy protects against approximately 25 diseases, including Parkinson’s, Alzheimer’s, blindness, etc.
3- Disability Insurance
a. It’s a protection that, in the event of a long-term disability (90 days or more), it protects your monthly income.
b. The people most likely to subscribe are professionals, businesspeople, those most at risk in manual work and those without any protection from their employer.
Please note we are affiliated with all insurers across the country, and we will always get quotes and assessments from all life and health insurance companies.