Life insurance. Characteristics and signs.

Life insurance

Life insurance is a type of insurance under which the subject of the insurance contract is property interests, which do not contradict the law, related to the life, health, working capacity and pension provision of the insured person.

This type of insurance provides for the insurer's obligation to make an insurance payment in accordance with the insurance contract in the amount of the insured sum, its part and/or in the form of regular consecutive payments of the sums specified in the insurance contract for the fee established by the insurance contract (insurance premium, insurance payment, insurance premium) (annuity) in the event of the death of the insured person, as well as, if provided for by the insurance contract, in the event of the insured person's survival before the expiration of the insurance contract and/or the insured person reaching the age specified in the contract. In the event that upon the occurrence of an insured event, regular consecutive lifetime insurance payments (lifetime pension insurance) are provided, the obligation the provision in the insurance contract of the risk of the insured person's death during the period between the commencement of the insurance contract and the first insurance payment from the number of lifetime insurance payments is typical. In other cases, predicting the risk of the insured person's death is mandatory throughout the term of the life insurance contract.

The terms of voluntary life insurance may also additionally provide for insurance in the event of the insured person's temporary loss of working capacity, disability or traumatic injuries and/or functional health disorders provided for by the insurance contract, or death of the insured person as a result of an accident or illness that occurred with the insured person during the validity of the insurance contract.

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Voluntary insurance and its types | Insurance Guides

Voluntary insurance

Voluntary insurance and its types Voluntary insurance is insurance that is carried out on the basis of a contract between the insured and the insurer. The general conditions and procedure for voluntary insurance are determined by the insurance rules established by the insurer independently in accordance with the requirements of the Law of Ukraine "On Insurance". Specific conditions of insurance are determined when concluding an insurance contract in accordance with the law. Voluntary insurance with a particular insurer may not be a prerequisite for the implementation of other legal relationships. The types of voluntary insurance for which a license is issued are determined in accordance with the insurance rules (conditions) adopted by the insurer, registered by the national commission for state regulation in the field of financial services markets. Types of voluntary insurance can be: life insurance; accident insurance; health insurance (continuous health…

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5 best insurance tips for millennials | Insurance Guides

Insurance tips for millennials

Adulting (verb) - acting like an adult or engaging in activities usually associated with adulthood, often responsible or boring tasks. If you’re a millennial, you know this definition all too well. You’ve reached the age where you may be taking out student loans, buying or renting a place to live, having kids and, ultimately, purchasing insurance. These major life events for millennials make it extremely important to have a financial security net. And that’s exactly what insurance is: a financial security net. So it’s troubling that a survey from Princeton Survey Research Associates International named millennials the most underinsured generation. There are many reasons why people of all generations…

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Travel Insurance Tips | Insurance Guides

Insurance Tips

Travel insurance can minimize the considerable financial risks of traveling: accidents, illness, missed flights, canceled tours, lost baggage, theft, terrorism, travel-company bankruptcies, emergency evacuation, and getting your body home if you die. Each traveler’s potential loss varies, depending on how much of your trip is prepaid, the refund ability of the air ticket you purchased, your state of health, the value of your luggage, where you’re traveling, the financial health of your tour company and airline, and what coverage you already have (through your medical insurance, homeowners or renters insurance, and/or credit card)…

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