Inheritance and peace of mind: The importance of the will and life insurance

Mexico.- Within the framework of the month dedicated to testament planning, September emerges as the ideal period to seriously address the importance of wills and life insurance. The growing demand leads several states in the country to announce the extension of agreements for the creation of wills, offering exceptional opportunities with discounts that reach up to 50% and, in some regions, the possibility of obtaining them for free and quickly.

It is imperative to understand that the will, a legal document that establishes the will regarding the distribution of assets and rights after death, must be validated by a notary. This procedure, by clearly stating the testator's wishes, helps avoid possible family conflicts.

Simultaneously, life insurance is consolidated as a vital financial protection tool. According to the Mexican Association of Insurance Institutions (AMIS), the number of insured in this area experiences a notable growth of 46% from 2011 to 2021, exceeding 11 million people.

In this context, Margarita Zepeda Porraz, CEO and Founder of WOOW, the revolutionary Marketplace in Mexico that integrates protection, assistance, health and telephony in a single application, emphasizes the relevance of making informed decisions to ensure a more solid financial future.

“This insurance guarantees the financial security of your family in the event of death and, in some cases, even includes funeral assistance to facilitate the necessary procedures.” The WOOW platform offers a Standard Life package backed by the prestigious North American firm Chubb.

Purchasing life insurance at WOOW is a completely digital process. You only need to answer a brief health questionnaire, and the rate is adapted to the age range of the interested party.

In addition, the application offers the option to expand coverage with the Premium Life package, which includes help for hospital expenses of up to MX$2,500 per day in case of accidents or illnesses.

For those who have a will, life insurance, or both, it is crucial to keep beneficiary information up to date and review it periodically. It is essential to highlight the differences between these two tools: while the will allows you to designate minor beneficiaries, the insurance recommends that they be over 18 years of age or establish a trust that manages the funds until they reach the age of majority.

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