Directions Of Personal Insurance

Life insurance, along with medical insurance and insurance upon the accidents, is one of directions of personal insurance. Life insurance main objective is to protect the insured from deterioration of life which can come out certain events or to reduce this deterioration to a minimum. At life insurance, the sum of insurance compensation is paid […]

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Life insurance, along with medical insurance and insurance upon the accidents, is one of directions of personal insurance.

Life insurance main objective is to protect the insured from deterioration of life which can come out certain events or to reduce this deterioration to a minimum.

At life insurance, the sum of insurance compensation is paid in following cases:
1. In case of the termination of period of validity of the insurance contract.
2. In case of achievement by the insured of certain age.
3. In case of death of the insured.

Besides, at life insurance, the sum of insurance compensation can be paid in the form of monthly pension. Such pension is paid in following cases:
1. In case of the termination of period of validity of the contract.
2. In case of achievement by the insured of certain age.
3. In case of loss of the supporter by the insured.
4. In case of loss insured work capacity.

Life insurance carries out savings function as helps the insured to save up and save up a certain sum of money which that will receive as a result of approach of certain event.

As a rule, life insurance contracts always long-term (and it is frequent also lifelong). The minimum term on which it is possible to conclude the life insurance contract is equal to one year.

Within the limits of life insurance there is such phenomenon, as the mixed insurance. At the conclusion of the contract of the mixed insurance, the insured can be insured simultaneously from accidents and illnesses and to insure the life (and in addition to all to register such point, as payment of insurance compensation on reaching him of certain age). Thus, upon termination of action of term of the contract, the insured receives the full sum of insurance compensation consisting of the sums insurance by each separate kind of insurance. In case of death of the insured the given sum is received by the relative or the person close to the insured whom the insured specifies in the insurance contract. Any person at the age from sixteen till seventy seven years can conclude the contract of the mixed insurance. Possible periods of validity of the contract of the mixed insurance: three, five, ten, fifteen or twenty years. The size of insurance sum in this case, as a rule, is defined by the insured.
Our life consists of weight of surprises. And, not always the pleasant. We try to find a way out to protect ourselves financially at approach of unforeseen events. In this case to the aid to us the life insurance contract comes.

More often term of the contract of life insurance rather long – from five till thirty years, and in certain cases also it is termless. The analogy can be spent with the bank contribution: during some time you pay to the insurance company the small sums of money on which percent are charged. Thus, by the contract end it is possible to save up the considerable sum of money which will go on payment of your needs.

However insurance policies, nevertheless, win in comparison with bank contributions. In case of death of the insured person, all sum of contributions together with percent will be paid the person specified in the contract of insurance. Whereas the bank at deaths door the investor percent doesn’t pay also money will return only to the persons who have entered the inheritance.

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