Life insurance is very important in ensuring the welfare of each person. A person creates a financial guarantee for the family with his life insurance in case he passes to the better world.
Life insurance has been developing for over 2000 years originating from natural, “automatic” response of economic society for various circumstances of human life.
Life insurance is an important tool through which economic and social needs of society can be implemented, and is one of the highest forms of meeting such social needs as:
– financial protection against adverse events
– maintaining the usual standard of living after retirement
– savings for education
– input of skills through wages supplement
– possibility of obtaining loans and so on
Nowadays, life insurance is one of the most important and dynamic industries in the global insurance market.
People increasingly understand the necessity to provide their living and guarantee a decent start for their children.
A client who has decided to insure his life is to evaluate his risks in a due way.
The practice of life insurance (and Health Life Insurance) gives incredible variety of insurance contracts.
The main criteria of life insurance contracts are: an object of insurance, a subject of insurance, insurance premiums payment procedure, insurance coverage period, a form of insurance coverage, types of insurance benefit, a form of contract awarding.