What are the types of life insurance

In Mexico there are different types of life insurance that allow you to be protected depending on the moment of life you are going through.

According to figures from the Mexican Association of Insurance Institutions (AMIS), about 16 percent of the Mexican population has life insurance, although it is a basic aspect of financial education.
The date of the Association itself reveals that this level of penetration is worrying, when there are dates that show that 8 out of 10 Mexicans are susceptible to financial collapse if an unforeseen event occurs as a disease in any of the relatives or the own and even an accident that results in permanent disability or death.

Life insurance becomes an option that provides protection

Life insurance becomes an option that provides protection

The figures of the agency indicate that if some of these events occur in the family, income can be reduced by up to 56 percent.

That is why life insurance becomes an option that provides protection to the most loved ones in the event of the death of the holder, avoiding them to go through the economic imbalance that in those moments of emotional wear and tear yet becoming an additional stress factor.

Types of life insurance

Types of life insurance

1.- Death insurance: this insurance is the cheapest in the market and the simplest. It can be contracted for an insured sum of 100 thousand pesos which will be delivered to the beneficiaries in the event of the death of the holder. There are modalities to contribute to the policy according to the entity that promotes it; some stipulate monthly, semi-annual or annual contributions.

2.- Mixed endowment insurance (or insurance with savings): one of the most important insurances in the Mexican market in recent years. It works like a conventional insurance, but at the same time they give the opportunity to generate savings, so that in the event of the death of the holder, the beneficiaries receive an amount that allows them to have greater financial peace of mind.

The main advantage of this product is that you can put a term, for example 20 years and if during this period there was no death to regret, the holder will receive the amount saved during the last two decades.

Another option is that the holder is the one who determines what he can pay on a monthly basis and although what he can save and the profits that this will generate will depend on that, it is a good way to save and protect yours.

3.- Withdrawal insurance: By means of this insurance, the insured pays an amount from the date he hires it until the day he has his retirement, so that the amount saved can be integrated into a pension plan. If before this period, the holder dies, the amount he has saved will be delivered to his beneficiaries.

Read each insurance policy carefully


It is important to read each insurance policy carefully to understand the benefits it offers, so that you can choose the one that suits you best. Protecting your future and especially that of your loved ones requires planning in your finances and life insurance is an excellent option.