When you decide to hire any type of insurance you are given over to be covered for any event because the future is uncertain and unknown. And if life insurance the words quiet, family safety, welfare future forecast … are becoming stronger in mind and make life insurance is a highly recommended, viable and feasible option.
But before you hire the first insurance that comes our way, we must be clear about two issues , first the first thing to do is to identify the needs generated by the decision of the insurance, that is what are we looking at that life insurance, what coverage, how new … The second question to consider is to study the offer of life insurance on the market.
To hire a life insurance policy are not only the most traditional insurance companies but also financial institutions sell such products. Many times we get carried away by the commercial manager of confidence that has always brought us the bills and also wants to sell life insurance, but does the price premium life insurance it sells a bank is higher or lower the insurance companies?
The answer lies in a study that INESE (company dedicated to providing comprehensive solutions for information, communication and marketing in the insurance sector) and Global Actuarial (specializing in commercial research and development company market research in the financial and insurance sector ) they have been carried out jointly in comparing premiums for life insurance marketed by insurance as both a bank.
What is the study?
The study analyzed the coverage and premiums of insurance Annual Renewable Term Life, in particular the coverage of death and absolute invalidated. The purpose of the study was to determine what the differences regarding the price of the premium for such insurance if it is hired by an insurance company or if you are hired through a financial institution.
The study was done by identifying three profiles of people who are what the policy would contract (30 years, 40 years and 50 years) and also establishing three different capitals to ensure (30,000 € 120,000 € and 200,000 €, the latter amount only analyzed insurance) companies.
There are a total of 13 financial institutions including those analyzed are for example Santander, BBVA, Sabadell, Banco Popular … On the other side are 15 insurers analyzed among which are Generali, Allianz, Helvetia, Catalana Occidente …
The study was carried out with the technique “mystery shopping”, ie, it is investigated through simulations of actual insurance contracts and through personal interviews.
Conclusions after comparing
After analyzing the various offers and prices for life insurance with death cover and absolute invalidate through “mystery shopping” method, the conclusions drawn are revealing.
Premiums for life insurance Risk contracted through a bank are 30% higher than those of a life insurance contract with an insurance company for all ages studied both to all capitals established.
This conclusion demonstrates the importance of seeking the insurance that best suits your needs but with the best price. It is important not to associate obtain peace with life insurance have to pay a steep price, because it shows that there are cheaper options in the market and it is only a matter of knowing how to search and compare prices.
But before you hire the first insurance that comes our way, we must be clear about two issues , first the first thing to do is to identify the needs generated by the decision of the insurance, that is what are we looking at that life insurance, what coverage, how new … The second question to consider is to study the offer of life insurance on the market.
To hire a life insurance policy are not only the most traditional insurance companies but also financial institutions sell such products. Many times we get carried away by the commercial manager of confidence that has always brought us the bills and also wants to sell life insurance, but does the price premium life insurance it sells a bank is higher or lower the insurance companies?
The answer lies in a study that INESE (company dedicated to providing comprehensive solutions for information, communication and marketing in the insurance sector) and Global Actuarial (specializing in commercial research and development company market research in the financial and insurance sector ) they have been carried out jointly in comparing premiums for life insurance marketed by insurance as both a bank.
What is the study?
The study analyzed the coverage and premiums of insurance Annual Renewable Term Life, in particular the coverage of death and absolute invalidated. The purpose of the study was to determine what the differences regarding the price of the premium for such insurance if it is hired by an insurance company or if you are hired through a financial institution.
The study was done by identifying three profiles of people who are what the policy would contract (30 years, 40 years and 50 years) and also establishing three different capitals to ensure (30,000 € 120,000 € and 200,000 €, the latter amount only analyzed insurance) companies.
There are a total of 13 financial institutions including those analyzed are for example Santander, BBVA, Sabadell, Banco Popular … On the other side are 15 insurers analyzed among which are Generali, Allianz, Helvetia, Catalana Occidente …
The study was carried out with the technique “mystery shopping”, ie, it is investigated through simulations of actual insurance contracts and through personal interviews.
Conclusions after comparing
After analyzing the various offers and prices for life insurance with death cover and absolute invalidate through “mystery shopping” method, the conclusions drawn are revealing.
Premiums for life insurance Risk contracted through a bank are 30% higher than those of a life insurance contract with an insurance company for all ages studied both to all capitals established.
This conclusion demonstrates the importance of seeking the insurance that best suits your needs but with the best price. It is important not to associate obtain peace with life insurance have to pay a steep price, because it shows that there are cheaper options in the market and it is only a matter of knowing how to search and compare prices.
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