Are you paying too much for your insurance in Spain?

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LIFE MOVES so fast in the UK and they are now faced with another General Election.

I can well understand Theresa May wanting to inflict this on the country as she has a very small majority and is getting a lot of pressure from the Tory party itself.

With the Brexit negotiations starting sometime in the near future, I am sure she is aware and understands that they are going to be extremely complicated and drawn out – there is no quick fix and I for one, am aware that the grass is never greener on the other side.

To make matters more difficult, politicians and civil servants are not business people, therefore their lack of experience in the art of negotiation, will I am certain, more than likely be beyond their capabilities, especially as there are 27 countries to negotiate with, different languages and cultures, and governments, then of course, it will have to be confirmed by the European parliament. What an awesome task.

I would imagine that it is going to take more than two years. In the meantime, the UK is in a state of in-balance, with understandable insecurity. Sterling does not like indecision and of course, prices will increase along with inflation and the expats have to watch their purses even more carefully. I am even thinking of sending my access to UK television back and not reading any newspapers but especially the Daily Mail as I don´t know if I can take any more!!

In the meantime, I am introducing a bespoke life insurance policy. What do I mean by that? It enables you to select an amount that you feel your family would be appreciative to receive on your death and you can tailor the policy to your own requirements. On death which is always untimely, there are costs involved which your family could struggle with, including a large amount for the funeral, outstanding bills and credit cards plus inheritance tax, which of course all could work out quite expensive and cause even more stress.

Despite what you might be thinking, the costs are very nominal. An example for a 50-year-old, cover of €30,000 on death could cost as little as €121 for the first year, with small increases for the following years, with a very simple questionnaire. This would mean that your untimely death would not be an extra financial struggle for your family.

My company is now able to offer various different types of life insurance, including the bespoke life policy.

When considering to buy a new home, Liberty Seguros have improved their Mortgage Protection and Life Risk policy. Death due to an accident or road traffic accident is now available until 80 years of age. They will pay in advance, funeral expenses and inheritance taxes and also, you are able to have more than one beneficiary.

Despite what the banks tell you, if you have taken a mortgage out with them, then you will need to take life insurance with them and they could threaten you with all kinds of higher interest rates and more costs – this is not legal.

Under EU law you have the choice with whom you take out Life Insurance and the premium can be up to 50% higher than the Liberty premium, you must inform your abogado of any conversations you have with your bank that you are uncomfortable with – do not just accept what the bank tells you. If however, you do decide to go with them, ensure it is only for one year and that you have completed and signed a medical questionnaire, which is supported where necessary by a doctor’s report.

If this is not carried out and death occurs, it will be difficult to prove that it was not a pre-existing condition and your family may have difficulties in claiming.

No, it is not a nice world and Spain is very different than the UK. Please take care. If you are in any doubt, asks us, you may be paying far too much. Plus Liberty Seguros are offering cash back on new life policies.

Are you self-employed?

If so, you need to read this. If you are not insured you could be in for a very stressful and expensive time. Why do I say that? You need to protect yourself from personal accident, accidents towards clients or damage done to their property. For as little as €150 per annum, Liberty Seguros offers a public liability insurance. A very small amount to give you peace of mind. Isn’t it worth it?

You know it makes sense. Why not pick up the phone and ask for a quote.

A reminder that the Renewals Department has moved to Els Poblets. However, you can visit your nearest office to renew your policy or telephone the Renewals Department on 96 647 5562.

Visit the website www.jennifercunningham.net or call one of the offices for any help you require.

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