What are the guarantees of death insurance?

What are the guarantees of death insurance?

Term life insurance covers the death of the subscriber by providing for the payment of a lump sum to the designated beneficiaries. This contract is also likely to offer additional guarantees relating mainly to 3 points:

    The payment of a capital in the event of death or PTIA following an accident:

Most temporary death contracts automatically include a guarantee for total and irreversible loss of autonomy, or absolute and permanent invalidity (IAD). Death and PTIA therefore generally go hand in hand.

    Temporary incapacity benefits:

Temporary incapacity for work corresponds either to the temporary impossibility for a person to exercise any professional activity, or to the impossibility for this person to exercise his only professional activity. This incapacity can be partial (ITP) or total (ITT). Social Security considers temporary incapacity for work from the 4th day of stoppage, for a maximum period of 3 years. Insurers offer additional services usually based on this maximum period of 3 years.

    Permanent disability benefits:

The insurer appoints its own medical adviser to assess the insured and determine a degree of invalidity. This rate can take into account functional disability alone, occupational disability alone, or even functional disability and occupational disability using, most often, a functional / occupational disability cross-tabulation.

The thresholds for triggering disability benefits do not therefore necessarily correspond to those of Social Security, and may vary from one insurance contract to another.

Before subscription, insurers very often give you a medical questionnaire in order to inform you of any possible health problems. This provision allows them to assess the risk at its fair value and to set the contributions accordingly, as well as the limit of the guaranteed capital available.

Social Security allows the payment of a death benefit to its members, although the amount is limited. Death insurance is also requested in parallel with the subscription of a mortgage, as security for the insurer.

Most conventional policies normally cover accidental death and / or death caused by illness. Since natural death is a certain event from a statistical point of view, it is only covered by high performance contracts, as are suicides, which are a voluntary act of the policyholder.

The following table shows the types of events covered depending on the contract taken out:
Accidental death guarantee
Accident
Sickness
Natural death
Suicide
Classic death insurance
Accident
Sickness
Natural death
Suicide
Death benefit from all causes
Accident
Sickness
Natural death
Suicide