Life insurance is often associated only with a payout in the event of death. However, this protection can have a much broader impact, ensuring financial stability at different stages of life and in various unexpected situations.

Protecting the family in the event of death
The most well-known function of life insurance is to guarantee that, in the event of the policyholder’s death, the family receives a lump sum that can be used to maintain their standard of living, pay off debts, or simply provide a financial cushion in difficult times.

Support in cases of disability
Many life insurance policies also include coverage for total or partial disability. In such cases, the insured may receive a benefit that helps them adapt to a new reality, covering medical expenses, home adaptations, or loss of income.

Security in credit contracts
In Portugal, banks often require life insurance to be linked to a mortgage. This way, in the event of the borrower’s death or disability, the outstanding debt is settled by the insurance, preventing the family from inheriting that responsibility.

Financial planning and peace of mind
More than just an obligation, life insurance can be seen as a planning tool. It provides peace of mind, ensuring that whatever the situation, there is a safety net for the policyholder and their dependents.

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Andreia Arenga
03.02.2025

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