Can I change the life insurance coverage or the insured capital at any time? Is there a limit on the modification of the coverages? Can the insured capital be increased or can I only reduce it?
When taking out life insurance, the policyholder decides how much he wants to insure (insured capital) and what coverage he wants to include based on what he deems necessary.
The policyholder can request the increase or reduction of the insured capital, as well as the modification of the coverage at any time, with a view to the annual renewal of the policy. The insurer, for its part, usually asks the policyholder to fill out a new insurance application, which implies a new declaration of the state of health and, where appropriate, the performance of medical tests, especially if they want to increase the coverage or you want to increase the insured capital.
In any case, and taking into account the conclusions obtained from the new health survey and medical tests, even if the company denied the increase in the insured sum, it could not modify the life insurance contract in force for the insured amounts or coverage offered at the time the contract was formalized. For the reduction of the coverages or the insured capital there does not have to be a problem.
Do you need help processing your life insurance? At PuntoSeguro we not only process your life policy, but we help you in any future process you may need. We also advise you when taking out your policies and we inform you of the best rates to renew your insurance with the necessary advance notice.
In addition, in our life insurance comparator you can compare the prices and conditions of the best life policies on the market, including life insurance with coverage in the event of absolute permanent disability. And just for contracting a life policy with us you can participate in the #RetoPuntoSeguro , with which you will get an interesting bonus on the renewal of your life insurance just for having an active lifestyle and overcoming the monthly challenges.
If you need more information to take out insurance or need any additional clarification, do not hesitate to contact us.
