The first thing is that it is necessary to analyze what you want to insure, because there is a great variety of insurance options such as: auto, life, education, medical expenses, home, health, among others. Also, before deciding to take out any of the above, you should keep in mind what stage of life you are in and what you need to insure.

Another way to obtain valuable information is to seek professional advice, so that you can be oriented in the rights and obligations that are obtained by contracting the service of the insurer, in addition to the general conditions of the policy.

Although there are similar products in various insurance companies, some products have specific characteristics that may better meet your needs, so it is important that before deciding, you compare different options considering the fee to be paid, coverage and exclusions that the service does not cover.

Keep in mind that insurance is a long-term investment which implies allocating a fixed monthly, quarterly or annual amount, which should be considered to be included in the personal or family expense budget. That is why it is also necessary to look for policies that do not compromise other financial commitments.

Finally, it is necessary to know the following concepts, which will appear in the information brochures of the companies that sell insurance:

Sum insured: This is the maximum amount that the insurer will pay in the event of a claim in accordance with the policy.

Coverage: The specific risks covered by the policy.

Exclusions: All risks not covered by the insurance policy.

Policy: The contract containing the general, particular or special conditions to which the insured and the insurer are committed.

Premium: The cost of the insurance.

Translated by: A.M