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How do life insurance work with savings?

Savings withdrawal terms and conditions, As these are programmed savings, these funds can only be withdrawn once certain deadlines and requirements have been met. That is, this instrument does not grant instant liquidity of the funds, as traditional savings accounts do.

Periodic fixed fees

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In many cases, this type of instrument establishes a fixed periodic quota that is established at the beginning. Part of that fee includes the payment of the insurance premium, and part of the contribution dedicated to saving.

Savings withdrawal terms and conditions, As these are programmed savings, these funds can only be withdrawn once certain deadlines and requirements have been met. That is, this instrument does not grant instant liquidity of the funds, as traditional savings accounts do.

Compensation amount

Compensation amount

The amount of compensation is established at the beginning of the contract and can be presented in two modalities. In the first mode, the highest value between the insured capital and the amount saved is canceled. And in the second, the sum between the insured capital and the amount saved. Part of that fee includes the payment of the insurance premium, and part of the contribution dedicated to saving.

Coverage exclusions

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Savings withdrawal terms and conditions, As these are programmed savings, these funds can only be withdrawn once certain deadlines and requirements have been met. That is, this instrument does not grant instant liquidity of the funds, as traditional savings accounts do.

Like all life insurance, this instrument excludes certain causes of death from its coverage. This is usually:

  • Sports practice or risky activities.
  • Pre-existing health condition, unless they are considered as an increase in the insurance premium.
  • Suicide, death penalty, or participation in crimes.

It should be noted that these exceptions are valid only in relation to the insured capital. Even if they are applied, family members also receive the amount saved to date.

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