Everything you need to know about insurance

Have you considered what would happen to your money if you bankrupt the financial institution where you have it saved? However, it is best to be cautious. Yes, it is very difficult to have a financial bankruptcy. We are not immune to crises and sometime could happen either through mismanagement because the financial situation the country is going through a bad time. That’s why it’s important to be clear on how you can protect your savings or investments and what you can do in any given case.

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But do not worry, you will not have to allocate another part of your income to pay for insurance that will back your money. To that end, a state entity was assigned the task of helping to protect its deposits. Fund of Guarantees of Financial Institutions is the financial authority attached to the Ministry of Finance and Public Credit that is part of The Security Network of the Colombian Financial System. This entity aims to protect the savings of citizens deposited in different financial institutions. Continue reading “Everything you need to know about insurance”

What to do when someone dies checklist

With the death of relative financial obligations generally disappear however there are cases where debts can continue to generate interest. The National Commission for the Protection and Defense of Financial Services Users in the magazine Protect Your Money explains the circumstances in which debts can be inherited.

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The main ones he indicates are when the deceased is married when you are legally responsible for liquidating the inheritance of the deceased and you have not complied with certain applicable laws; If the obligation was confirmed. Likewise, if he was appointed executor or if he is jointly bound, that is, if he signed as guarantor or guarantor. Continue reading “What to do when someone dies checklist”

Income protection in case of disability

Could you provide for your family if an illness or injury prevents you from working? This is an important question to ask yourself and if you already see problems, you should consider a plan to maintain your standard of living. You should be proactive and reduce your stress; you make your life easier! The first thing to do is to understand what protection you already have.

If you have an emergency fund, you should also calculate how long it could last, and if you would pay unexpected medical expenses. Then compare your current coverage to all of your financial obligations and your current expenses. If you could run out of money, you should consider for your Income Protection.

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In fact, losing the ability to earn an income, you may also lose the lifestyle that you have created for you and your family. An accident or illness can deprive you overnight the ability to work and earn an income.

Your health insurance will help you pay your medical expenses, but to replace your income, you need insurance to protect your income in case of disability. Even if you already have disability insurance through your employer, many insurance companies offer you Income Protection Cover that will help you maintain your lifestyle. Continue reading “Income protection in case of disability”

Things You Should Know Low Cost Term Life Insurance

Term life insurance differs from everlasting insurance, in that it’s only very good for any term, generally from the yr to thirty many years. The coverage must be renewed for the stop of each and every period or term and contains no actual income worth. Inside the event of your death of your insured ahead of the finish of your specified term, the beneficiary would then be paid. As with any fiscal product or service, it pays to buy close to. The internet has managed to make it simple to uncover low cost term life insurance and to review insurance policies, capabilities and expenses. It can be also reasonably simple to submit an application for coverage online; the whole method can typically be finished in as little to be a few minutes.

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Potentially the most important good thing about this sort of insurance is usually that it’s usually more affordable than long-lasting insurance. As the level of the regular premiums are decreased, this sort of insurance makes it possible for you to buy extra protection whilst youthful – a time of life when lots of individuals feel they require additional fiscal defense, or can find the money for it.

This protection can also be a fantastic solution you ought to go over a direct and unique brief term want, like a mortgage loan, or earnings from work. Many guidelines also simply and easily enable you to transform the policy into a entire life plan at some time in the future, while not having to get a health-related test or normally qualify. Continue reading “Things You Should Know Low Cost Term Life Insurance”