1. In what cases it is expedient to get the life policy of assurance and in what – the insurance from accident? Life insurance can be the tool for accumulation of the certain sum of money to important events – to wedding etc. Insurance upon accidents is a short-term and budgetary measure for protection of […]
1. In what cases it is expedient to get the life policy of assurance and in what – the insurance from accident?
Life insurance can be the tool for accumulation of the certain sum of money to important events – to wedding etc. Insurance upon accidents is a short-term and budgetary measure for protection of the health. If you aren’t assured that you are interested in life insurance services and want to try as the system of insurance in the field of protection of the person insurance upon accidents can become the first step to life insurance operates.
It completely depends on requirements and ultimate goals of the client. I will notice that insurance upon accident costs rather cheaply, however guarantees insurance protection only on risks of accident.
If the client is interested in the long-term program and also wishes to include wider range of widespread risks (death for any reason, physical inability for any reason) the program of brave life insurance will approach more.
The memory program not only gives reliable insurance protection, it also is a way of formation of savings for the term up to 30 years (that, by the way, any other financial tool doesn’t allow) and their augmentation at the expense of the additional investment income.
These two kinds of insurance are difficult for comparing. Life insurance very often combines functions of accumulation and financial protection. It means that the insured under the life insurance contract can pursue the diversified aims: maintenance of a standard of living of relatives in case of his death, target accumulation of means for definite purposes, financing of the future pension and etc.
I will underline that under the life insurance contract the addressee of payment receives money in case of leaving from life of the insured person for any reason. And the contract of insurance upon accident provides payment as well as follows from his name, only at accident approach. Thus financial protection of relatives frequently leaves on the second plan: for insured is much more important to have a guarantee of monetary indemnification in case of reception of a trauma, physical inability, necessity of carrying out of surgical operation and etc.
It is necessary to notice that usually, by rules of life insurance first six months of validity of insurance the insurance company bears responsibility for the events which have occurred only as a result of accident.
2. Life insurance contracts are calculated on long terms. If in this time the insurance company is ruined, the money paid under the insurance will be gone?
Modern market mechanisms, the legislation and also actions of an insurance regulator – Federal Agency of insurance supervision are factors which substantially will soften consequences of bankruptcy of the insurer for the owner of the policy. In case of insolvency of the insurance company the most widespread practice is acceptance the decision on transfer of an insurance portfolio to other insurer.
In case of the planned closing of the company the liquidating commission is created. Under each contract individual work is spent and the decision on the further actions will be coordinated with owner: cancellation or transfer in other insurance company.
Life insurance all over the world is considered the most reliable tool of investment of money resources. All companies on life insurance in the activity are guided by very rigid requirements from the legislation, for example, regarding investment activity and granting of the information on the results.
Nevertheless, for a choice of optimum conditions of life insurance you should define the list of insurers to which you are ready to entrust so serious question, as the financial future of and the family. Today, in financial crisis it is necessary to choose the company guaranteeing not so much high percent how many reliability of investments in long-term prospect.
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