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5 essential considerations when choosing insurance

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5 essential considerations when choosing insurance

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Every day, we expose ourselves to situations or circumstances representing a certain degree of risk in our lives. Unplaned conditions such as death, illness, or the loss of some material good, although we cannot control, we can prevent.

According to the Mexican Association of Insurance Institutions (AMIS) in Mexico, only 25.8% of vehicles have insurance. In comparison, 13% of the population has life insurance, and only 6% of people have expense insurance doctors. These figures are alarming; on most occasions, they reflect the consequence of the lack of knowledge and misinformation. It is a reality that there is no real financial education that can project the advantages that you could have by insuring yourself on time.

Have you ever thought about what would happen if you need it tomorrow? What are you doing today to prevent any unforeseen events that could happen? If the answer is nothing, then it is an excellent time to start, and this article can help you better understand what to consider when choosing insurance.

Some recommendations for choosing an insurance policy

  1. Define what you want to cover: There are many types of insurance, life, disability, major medical expenses, etc. Analyze your needs and who you would be insuring and choose according to your priorities.
  2. Choose who you want to insure: Consider your current status if you are single, married, with children, etc., to contemplate a general budget and how much you could allocate for the insurance payment.
  3. Review the coverage: This exercise is crucial when choosing insurance; always know what type of policy it offers and its range. As a suggestion, the policy should be five to eight times your current income.
  4. Compare options: Do not get carried away solely by the price; insurance goes beyond that. You must evaluate the advantages and disadvantages that it offers you, the payment plans, and the attention that will be important to make a better decision.
  5. Seek advice: Finally, find an insurance company that can accompany you and helps you make smart decisions for yourself and your family.

Remember that the culture of prevention is a necessary good that is also part of large countries’ culture. Choosing a plan that suits you will help you protect what you love the most.

Let us help you make the best decision. Are you ready to define your future?