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“I’m not stupid”

“I hope this modest contribution is of help to you and that you never have to go through what I did. This is my small part: by explaining what happened to me, I don’t want anything similar to happen to anyone else”.

This is the story of a woman who went to the bank to sign a mortgage and was obliged to take out a Life insurance policy. She made the mortgage and insurance payments on time for 12 years until she got pregnant and had the great misfortune of ending up with a permanent disability.

Then she tried to cash in her insurance. She went to the bank, and after waiting a week, was told that her policy did not cover total permanent or absolute disability.

She remembered the 5 months she spent in hospital battling between life and death and the 12 years of sacrifices to pay the mortgage and the insurance. She was so angry that she cancelled her insurance as well as her husband’s. Big mistake! Because they forfeited all their rights. The bank stopped being helpful and they faced enormous difficulties trying to take out a new policy.

The moral of this story is that you should only trust the real experts, we the Insurance Brokers. Before signing you must carefully read every contract, and above all fully understand it, and that’s what we’re here for.

We remind you that:

  • The bank CANNOT oblige you to take out Life insurance, as legally you’re allowed to choose who you take it out with.
  • Verify whether the bank or your family is the beneficiary.

You are free to change your policy. Nobody can tie you down forever.