Why does the life insurance premium go up every year and how to save on the premium?
If you have contracted life insurance, each year you may observe a slight increase in the quota. And it is that the life insurance premium, the amount we pay month by month, is revalued every year based on different factors. From IATI, your trusted insurance brokerage, we tell you what are the reasons that determine the increase in the premium and how to save up to 50% on your life insurance fee.
Revaluation of the life insurance premium
Each time the life insurance is renewed, a small amount is increased, corresponding to the rise in the consumer price index (CPI) for the corresponding year. But other reasons influence the revaluation of the premium, such as age. And it is that as we get older, the life insurance fee is higher. For this calculation, the companies take into account mortality statistics in Spain, which relate, for example, the probability of death to age or cause of death, and apply the quota based on these data. For this reason, at IATI we recommend taking out life insurance when you are young. In this way, the update of the premium will be made starting from a smaller amount.
Another key aspect that can condition the increase in the quota is the profession to which we dedicate ourselves. If we exercise a risky profession, this condition can make the insurance more expensive, both at the time of contracting it and in the subsequent updates of the premium. Working in an office, for example, is not the same as working in mining, the army, the police or fire department, or as a plane or helicopter pilot. In these professions, therefore, the premium will be higher, although, on the other hand, they are professions in which it is especially recommended to have the protection of good life insurance that covers this risk and the possible eventualities that may occur. So, if we intend to change professions in this regard, we must assume that life insurance could become more expensive depending on the risk associated with our work.
personalized life insurance
As a life insurance customer, the most important thing is that you know the conditions of the policy well and that you can contract the coverage that you need, according to your situation and family model. That is why, for IATI, it is so important to offer you personalized advice and inform you of all the aspects to take into account when hiring life insurance.
IATI life insurance adapts to your age and lifestyle at the best price and offers you the protection you need at all stages of your life: IATI Vida Singles is recommended for those who lead an independent lifestyle. , for those who enjoy an active lifestyle alone or as a couple we have created the IATI Active Life and for those who have dependent children and a mortgage, we offer the IATI Family Life and Mortgages. Three complete insurances with which you will be protected no matter what happens.
Save on your life insurance
If you think life insurance is expensive, you are wrong. You can take out IATI life insurance from only 2.40 euros, 4.20 euros, or 8.70 euros per month, depending on the type chosen and the coverage you take out.
In addition, if you have mortgage life insurance with the bank, you should know that since 2017 it is no longer mandatory to take out life insurance with the bank with which you sign the mortgage, but you can do it with a trusted life insurance broker like IATI. You just have to designate the bank as the main beneficiary of the policy. In this way, in the event of death or absolute and permanent disability, the bank would collect only the outstanding capital of the mortgage, while the rest of the capital will go to your heirs. Think that changing your mortgage life insurance to IATI is very simple and will allow you to save up to 50% of the life insurance fee. Also, you don’t have to worry about paperwork. From IATI we take care of canceling your policy for free, doing a personalized follow-up at no additional cost.
Hiring cheap life insurance 100% online is easy and fast
As you can see, IATI life insurance is cheap and covers your family and your mortgage with the best market conditions. In addition, you can hire them 100% online quickly and easily, by answering a simple 3-question questionnaire, without medical tests or unnecessary paperwork. You can calculate your life insurance premium online or, if you prefer, contact IATI to receive information and personalized advice on the best life insurance for you and your family.
