Life insurance quote in Portugal

More information about life insurance in Portugal

In order to be able to choose the right life insurance in Portugal for your needs, you first need to know how it works. Life insurance is personal insurance that covers the risks connected with the insured party’s disability or death. The main purpose of this type of insurance is for the insured party to guarantee their own financial security in the event of a disability and the financial security of their dependents in the event of the insured party’s death.

With this type of insurance, there are 3 possible intervening parties:

The policyholder: the person who signs and pays for the insurance policy

The insured party: The disability and/or death of the insured party are covered and determine the value of the insured capital

The beneficiary: the person who receives an indemnity in the event of the death of the insured party

Even though there are many, we offer explanations below of the two main types of existing life insurance policies:

• Temporary life insurance: a periodic premium is paid for a guaranteed capital in the event of death or disability. The policy is renewed annually and the premium increases every five years based on the insured party’s age.

• Payment protection (or fixed premium) life insurance: a constant premium is paid for a defined term. This type of insurance is mostly used with real estate mortgages.

When is it a good idea to take out a life insurance policy?

• You are the head of household and wish to guarantee your children’s future in the event of your death.
• If you exercise a risky profession, you constantly drive or do any extreme sports.
• You have purchased real estate through a bank loan and wish to guarantee repayment of the loan in the event of an accident or illness.
• You are young and wish to protect yourself against a disability or illness that may affect your professional career.
• You are a key person in your company and wish to guarantee its continuity in the event of your death or disability.
• You are a partner in a company and wish to guarantee other partners the possibility of purchasing your stakes in the event of your death.

These are just a few examples to illustrate the many possibilities of this type of insurance which is the only kind that covers you and your family or those that depend on you.

Don’t think twice about contacting us so we can find the most appropriate life insurance solution for your situation together.

If you’d like to know more about life insurance, we invite you read our article “insuring life" where many of the questions you still may have regarding this very important type of insurance are answered.

Inov Expat

We are an insurance broker that has been working with the best insurance companies in the market since our foundation in 2004 to be able to offer you a life insurance solution that is particularly well adapted to your needs and at the best price. We can answer all your questions as well as handle any claims necessary throughout the term of your life insurance policy and act as privileged liaisons to defend your rights against insurance companies. Our service is free.