Life insurance is a conscious decision that reflects love, foresight, and the desire to ensure the well-being of those we love most.

Guatemala City, July 2025 – In a context where many families face constant economic and employment challenges, life insurance takes on essential value. More than just a financial product, it is a planning tool that offers peace of mind, support, and continuity for the family's life project.

The figures reflect a clear reality. According to the Guatemalan Association of Insurance Institutions (AGIS), only between 5% and 8% of the economically active population has life insurance. This means that more than 90% of Guatemalans are vulnerable to a deep economic crisis if they lose their primary breadwinner.

This low coverage is not only an economic challenge, but also a cultural one. Compared to countries like Chile or Mexico, where life insurance represents between 2% and 4% of GDP, in Guatemala this figure barely exceeds 1%. Misinformation, the perception of inaccessibility, and a lack of financial literacy are barriers that prevent many families from making proactive decisions that could transform their future.

“Life insurance is not an expense, it is an investment in peace of mind and dignity for those we love most. It is the most responsible legacy we can leave,” says Byron Penados, president of ACORDES.

When a provider dies without financial protection, the family often faces the need to sell assets, take on debt, or sacrifice their children's education. This situation can last for years, perpetuating cycles of vulnerability. In contrast, having coverage allows the family to grieve with peace of mind, maintain their home, and continue their life plans.

There are affordable options for everyone; ACORDES affiliated brokers offer free, personalized advice to find the plan that best suits each family's needs.

ACORDES actively promotes financial education on social media, debunking misconceptions and providing real solutions to the public. Personal finance education is key to changing the culture and enabling more families to protect their future starting today.

Talking about life insurance isn't just talking about death. It's about love, vision, and responsibility. Because the most valuable thing we can leave behind isn't a material inheritance, but the certainty that our family will be able to carry on with dignity, even when we're no longer here.

Acordes reaffirms its commitment to strengthening a culture of planning and family protection in the country, highlighting life insurance as an accessible, dignified, and transformative tool. The Association of Insurance and Bonding Brokers invites the public to learn more and contact its affiliated brokers, who offer free advice to help find the ideal policy.

For more information and to follow their initiatives closely, ACORDES invites the community to connect with their official networks:

• Facebook: Acordes Guatemala
• Instagram: @acordesgt
• LinkedIn: Association of Insurance and Surety Brokers
• Website: www.acordesguatemala.org

About CHORDS

The Guatemalan Association of Insurance and Bonding Brokers (ACORDES) is a non-profit trade association, founded in 1987, that brings together 25 leading insurance brokerage firms in Guatemala. Our purpose is to strengthen the professional work of insurance brokers, support their role as trusted advisors, and protect the interests of both policyholders and brokers within the framework of the country's current insurance law.

According to data from the Superintendency of Banks of Guatemala (SIB), there are currently 1,589 insurance intermediaries: 80 dependent agents, 1,289 independent agents, and 220 insurance brokers. Brokers affiliated with ACORDES account for approximately 30% of the premiums in the intermediated insurance market, reflecting their leadership, strength, and experience in the sector.