These insurance usually have established waiting periods which vary from case which occurred dependency. Many insurers establish a lack which is usually around the year, for any type of circumstance that is not considered exceptional, such as dependence because of advanced age, not mental illness, etc. Another circumstance that usually has deficiency is occurring due to mental or neuropsychiatric. The grace period established for such situations is usually around 3 years since the insurance contracts.
Conversely, if the dependence occurs due to an accident, the most common is that insurers do not require a minimum period of time has elapsed to receive appropriate compensation.
Besides the shortcomings, this insurance includes a number of limitations. There are some circumstances the insurer will not charge in which the dependence of the insured. Although each company has its own excluded situations, some are common. For example, one that may fall outside the limits of the insurance is the dependency produced as a result of practicing a dangerous sport such as mountaineering, bungee jumping or rafting. Another case can be excluded from consumption of alcohol, drugs or narcotics, the consequences of an attempted suicide or the derivative of an armed conflict.
Tax benefits Insurance unit
Unit purchase insurance protects the insured against possible adversities that may happen in the future. In addition, this product has certain tax advantages. It has the same treatment as a pension plan, so that people can be hired tax deductible contributions of the premium to make the statement of income. The same thing happens if you choose to include this coverage in Life insurance, offering them some more performance and similar advantages when it comes to tax.