BBVA launches the first life insurance that always maintains a fixed price

BBVA innovates in the world of insurance. Your subsidiary BBVA insurance started in Spain a product of the first life where are the clients They will know the price from the moment the contract is concluded or the net premiums they pay during lifein exchange for a gradual reduction of the insured capital.

He Regular life insurance is getting more expensive every year depends on the individual variables of the insured with which their risk of death is assessed is therefore difficult to predict.

Factors such as age (the older the age, the higher the cost). profession of the client (the work is also considered high-risk) a habits affecting health (for example, smoking, drinking or playing high-risk sports).

The development of the price throughout the duration of the insurance is also conditioned by factors such as the CPI or whether the client decides to add or remove guarantees or change the insured capital.

Faced with this volatility and in a scenario where escalating inflation supports family financial planning, BBVA now facilitates shield annuities to avoid surprises to the client. Your Secure Premium Life policy offers two options: a stable or fixed net premium and a progressive adjustment of the sum assured (it would decrease with age). or that it increases by 3% per year from the age of 36s, a variant where the insured capital also decreases, but more slowly.

The bank’s intention is to “make it easy” for customers to take out insurance cover they can use on a daily basis, while responding to uncertainty in the cost of their insurance while maintaining the level of protection the customer is familiar with. .case of death.

“Usually life insurance they are linked to the insured fixed capitalit with him the passage of years might be exaggerated, because in many cases they do not accompany the needs of the client in his life cycle. With this new solution from BBVA Seguros, policyholders will always know what they are paying and why,” the subject explains.

The policy covers the main case of death in both formulations along with additional coverage such as accidental death absolute permanent disability accident, death assistance and medical assistance.

Everyday medical care

The insured will also have access to services in everyday life, such as second medical opinionmedical, nutritional and diet advice, psychological advice, health check-up and the insurer’s online “Get in shape” service.

The new policy is also integrated into the company’s loyalty program “Plan Estar Seguro”, which allows customers to group all their policies (home, life, health, disability for the self-employed, etc.) and pay premiums in a single income. month by month and get a discount of up to 15% in group insurance.

Insurance allows you to hire a maximum insured capital of 1.5 million euros and the minimum will depend on age. For example, if the client is between 18 and 40, it would be 45,000 euros, 30,000 for the next age group and up to 45 and 10,000 if they are between 56 and 64.

10,541 crore

This is the total volume managed reserves in life insurance from BBVA Seguros at the end of 2022, of which more than 9,603 million corresponded to managed customer resources in savings insurance.

The company has 3.26 million policies and ended the year with a gross profit of 223.1 million. The company includes the 49% held by BBVA joint venture bancassurance with Allianz.

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