Why is life insurance better than payment protection insurance?

Image result for life insuranceAlthough the new Mortgage Law will prohibit the obligation to hire insurance to grant a mortgage, this will not mean that financial products do not continue to sell insurance such as payment protection.

On the one hand, what the new legislation determines is that the client always be shown a mortgage offer without any product linked to one or several offers that, if they can contain different conditions, but with product linkage. Banks can thus offer proposals with discounts, usually discounts on the interest rate, if they hire these products.

The other way in which payment protection insurance grows is in its growth in the personal loans segment, especially in the highest amounts.

In all cases, its commercialization is based on selling the benefits of its coverage: the capital that remains pending from the loan in the event of death, temporary incapacity for work or unemployment. But all are limited and have several points not so positive that you have to analyze.

Beware of single premium insurance

The first point is related to how loans are amortized. The most common in Spain is that they are made by the so-called French method which implies that equal installments are paid throughout the life of the loan unless there are changes in the interest rate. This form of amortization implies that at the beginning of the loan is when more interest is paid and, therefore, less capital is amortized and at the end of the loan is when the capital is reduced more quickly.

In practice this assumes that these loans are more interesting when the loan operation starts and loses this interest when few years remain. To avoid this drop in hiring, it is a practice of some financial entities to market it as a single premium insurance; that is, the entire insurance is paid when you sign the contract for your mortgage. This form can involve certain limitations and problems. The first, the high amount, especially in mortgage operations which leads to even financing through the loan raising its amount. The second, if you anticipate the cancellation of the loan, you have the right to claim the proportional part of the premium.


Very limited protection  

With all this it is clear that the insurance protection is limited in quantity despite its cost that is usually high. It is for the main coverage, the death coverage, but also for the rest. For illness, you have to read the conditions very well since not all the illnesses that can take you to the medical leave can be contemplated in your coverage. Likewise, unemployment coverage is limited in time.

Faced with this, life insurance covers all contingencies in a broad way, you can comfortably pay it periodically and update it to offer complete security for those you love most.


Image result for cdtiThe Center for Industrial Technological Development (CDTI) develops together FEDER, PROGRAM INTERCONECTA 2018. Whose main objective is to support experimental development projects, regional cooperation, and pluri-regional between companies located in certain autonomous communities : Andalusia, Canary Islands, Castilla La Mancha , Extremadura, Castilla y León, Murcia, Ceuta and Melilla.

This is a non-refundable subsidy aimed at large experimental development projects that represent a technological and industrial advance relevant to the autonomous community , being beneficiaries those consortiums of 2 to 6 independent companies , at least one large / medium (which must be the leading company) and an SME. The submission deadline begins on May 3, 2018 and ends on June 5, 2018 at 12.00, Peninsular time .

Approve those projects whose theme is aligned with the Social Challenges (health, demographic change and welfare, food safety and quality, safe and efficient energy, social changes and innovations, etc.) The budget for the realization of this project should be between 1 and 4 million euros , and the contribution of each company can not exceed 70%. It should also start in 2018, and have a duration of 2 or 3 years, that is, they should end on December 31, 2019 or December 31, 2020.

This aid will cover different expenses, such as personnel, equipment and industrial amortization, fungible material, subcontracting and auditing. Assuming certain advantages to companies such as: deductions for R & D, subsidy between 40 and 60% (depending on the size of the company, small 60%, medium 50%, and large 40%), research first level, collaboration between companies, etc…

Tricks to stop wasting money

While it is true that we are increasingly aware of the issue of savings, we continue to have spending habits that we can improve to avoid wasting money .

We do not like to deprive ourselves of anything, even though with that we get to have a mattress of money that makes us be able to face any unforeseen event in the future.

When we talk about wasting money, we refer to those compulsive purchases that we make and that in most cases could be avoided. Sometimes, when we do one of these purchases, we regret it, but there is not always a way back!

How to avoid wasting money and saving

How not to waste money How easily the money goes! We must assume it, in many cases we fall into the hands of consumerism. The publicity and the impulses can with us and we end up buying things that we do not need and that in some cases we do not even really like. Why do we waste money this way with what it costs to earn it?

We are going to give you a few tips so that wasting money is not part of your day to day and you can save a good amount of money at the end of the month.

  • Knowing how to differentiate between the necessary and the superfluous. Separating the luxuries of what is really necessary is a great first step to be able to stop spending money in an uncontrolled way. A quirk from time to time does not have to hurt anyone , but when it becomes a habit, you have to put a brake on it.
  • That the emotional ups and downs can not with you. When we are sad we usually give ourselves a whim that makes us feel a little better at the moment. You have to think that this small impulse, if it is repeated with assiduity, can become a big hole in our monthly economy.
  • Make good use of energy in our home. We have to use energy with a head. That means, for example, that the lights have to be turned off when you are not in a room, hire a time-zone rate, do not overuse the air conditioning or heating … There are many ways to save at home, all help to avoid spend too much.
  • The restaurants, for special occasions. We tend to go for the easy, to go to a restaurant rather than to prepare something at home and grab it in a tupper at work. Making an approximate calculation of what you spend on eating out each month is simple. Imagine that you go to the typical restaurant menu at about 11 euros 3 times a week. What looks like a cheap menu ends up becoming more than 130 euros per month of spending.
  • Invite, but not in excess. We all want to be splendid with our friends and family, but you have to know where the limit is. Inviting too much will make you stop controlling expenses and find yourself with a small big hole in your pocket.
  • Why buy premium brands? Sign up for white brands! Most of the time these have a very good quality and a price much lower than premium brands. Little by little you will be making a piggy bank.
  • Do not pay for services that are not used. A reality that we seem to be accustomed to is paying for services such as television and music, etc. That we do not take full advantage or that, directly, we do not use. This entails a constant loss of money.

Use common sense to avoid wasting money

Tricks to save money The most important thing when it comes to being able to save money and stop spending it on superfluous things is to use your head. Knowing how much money comes in and how much goes out is ideal when it comes to being able to keep a specific amount at the end of the month.

A good idea to know if you are spending more than the account, write how much money you enter and how much money you spend on necessary things. If at the end of the month the numbers do not add up, it's something you're doing wrong and you should start investigating what happens.

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September 25, 2018 Share this article:

Tips And Tricks To Wise Tanning

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