Types of life insurance in Peru there is a great variety offered by the insurance companies given the variety of events that can cause one loss or another and that is covered by the law life insurance.
What is the best life insurance in Peru? Acquire a list of the types of life insurance in Peru, its characteristics, and conditions that are most contracted by Peruvians.
To listen in a few words, life insurance is contracted by people to protect themselves financially and those who depend on them in the event of your death.
When we talk about protecting yourself, it is covered with an indemnity that allows you to temporarily cover your economic needs in the face of any unexpected event.
The purpose of the mission or function fulfilled by the Relief Insurance is to pay as:
- Pay at the moment in insurance death
- Pay the debt you have with the entity of the financial system for any loan you have
This is the main benefit offered by the degradation segment so that heirs do not pay the credit obligation in the financial entity that contracts the debt.
Personal Accident Insurance
The characteristics of the Personal Accident Insurance, the insurance fulfills the purpose of granting medical assistance in the event that a person suffers an accidental and/or occasional bodily injury.
In some cases, the policy may additionally cover or provide the following coverage:
- Accidental Death Compensation
- Permanent disability compensation; also be total or partial, depending on the policy that contracts its characteristics and coverage.
- Also the daily pensions in case you are left with disability can be temporarily suspended the time you are disabled
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Health Insurance or Medical Assistance
The mission of the Health Insurance covers the provision of professional medical services in the following coverages:
- outpatient medical care
- medical exams
- Medication treatments, according to the subscribed policy
Who are you insurers in PeruYou can purchase this health insurance online by filling out your health status forms through a health affidavit.
Insurance companies in Peru also offer School Insurance and the purpose and function of these types of insurance is to protect students from all kinds of accident risks inside or outside their study centers.
The insurance also covers the payment of student pensions in the event of the death of the mother, father, guardian, or coverage that insurance companies have.
These are the school insurances with the most requirements in Peru:
School Accident Insurance
This type of insurance covers all expenses generated by an accident inside or outside the educational institution, according to the terms and conditions of the policy.
Guaranteed School Pension Insurance
The benefits and characteristics of this type of insurance cover the death of the person or if they become disabled for the payment of pensions.
That is the purpose of guaranteed school insurance so that the student has guaranteed payment for their studies.
Compulsory Traffic Accident Insurance
The insurance was created with a social purpose, called Compulsory Traffic Accident Insurance, with its initials SOAT, AFCAT and CAT in Peru.
The objective of the insurance is to save the attention of Peruvians immediately and unconditionally.
To all those people who are victims of a traffic accident that suffer bodily injury or death.
Who is entitled to law life insurance in Peru?
According to the new National Law in Peru, according to DU No. 044-2019, it establishes as a rule that all companies must contract life insurance law from last January 1, for their workers who begin their employment in a mandatory manner.
Remaining without effect the previous regulations that indicated that said obligation was effective after the fourth year of work.
What are the benefits of law life insurance
According to the Peruvian Association of Companies and Insurers (Apeseg) the life insurance law, was created to grant temporary economic relief to the relatives of a worker, whether this company is public or private.
When due to an accident at work or who dies naturally, newly incorporated since this year, or is left with a total permanent disability.
The life insurance law grants protection 24 hours a day to the worker in Peru, even if he has worked for more than one company.
Current legal regulations apply to the public (DL 728) and private sectors, in the event of the worker’s death.
But the worker also leaves the beneficiaries an indemnity with 16 remunerations if he dies naturally
However, even if they die from an accident or become permanently or totally disabled, they have a benefit of 32 remunerations.
What type of permanent disability does the coverage offer?
So that you have a clear idea if you are looking for this type of life insurance law in Peru, the insurers that cover in case of permanent disability are:
- Absolutely incurable mental derangement
- Incurable fracture of the spine
- loss of sight in both eyes
- Loss of both hands, feet
What are the requirements that the worker must meet to contract the insurance?
The beneficiary or work fulfill the worker the sworn declaration of Beneficiaries with a duly accredited or legalized signature.
For your employee to present to the Insurance Company in the event of the worker’s death.