Although not the most sought after policy by foreigners living in Mexico, Life Insurance is a relatively affordable option here, compared to policies in other countries. The life insurance category in Mexico encompasses a few different types of policies, and can help you and your loved ones in a number of different situations.
There are many reasons to get a life insurance policy in Mexico. Maybe you just purchased a property with a mortgage and the bank is requiring a policy that matches the amount and/or length of time of your mortgage. Maybe you have married with a Mexican spouse, and have Mexican children, and you want them protected in Mexico should anything happen to you. Within these policies, if the beneficiary is a dependent minor, you can choose the age you wish for them to receive the payout, so it can essentially become a trust fund to be used for higher education, etc. There are also some insurance policies that work as a retirement plan, where you get the payout at the end of the term.
Some of the benefits of our life insurance policies include:
- Permanent disability coverage can be added
- Discounts for non-smokers
- Preferential rates for women
- Lump sum or fractional payout options
- 10, 20 and 30 year term options, or until your 65th birthday
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