Life insurance

Life Insurance - one of the traditional types of insurance. The purpose of this insurance is compensation for the harm caused to health and life of the insured. And, as a result, maintaining the life of the insured and his family in an accident.
This type of insurance is a long history and tradition. Its occurrence is associated with the requirement contained in the law of the sea Visby 1541 (UK), that the owners of the ships captain to insure against accidents. Thus, the development of various manifestations found the compulsory insurance against accidents and diseases. The practice of insurance shows that it can take many forms, keeping the socio-economic content. Today, the scope of this type of insurance is much expanded: it provides the insured and their family members comprehensive protection against the economic consequences of disability or death occurring as a result of unexpected, accidental and unintentional events.

This type of insurance coverage is becoming more popular and widespread. Analyzing the work, I can say with certainty that over the last 5-7years (even despite the economic crisis), I have not only increased the number of insured, but the outgrowth average insured amount for each insured. This is due primarily to growth in income.

When deciding on the insurance program must be guided not only by the size of the insurance premium (insurance cost), but also carefully examine the conditions of insurance. In terms of insurance (Insurance program, the insurance contract), to avoid controversy, a detailed list of all events that are recognized or not recognized by the insured event and, accordingly, are included in coverage or excluded from it. For example, sports or participate in competitions, are generally not included in the basic underlying insurance program. Therefore, if the insured intended to be included in this insurance program, we must be prepared to pay more than someone who is not engaged in dangerous sports.

Life insurance can be divided into two groups.

From accident. Most people, talking about life insurance, it involves risk insurance. As its name implies - a protection against the risks: accidents, illness, death. Contract risk insurance is valid for a certain period. If during this period with the insured person happens to any misfortune, he or his beneficiary, receiving a prize. The value of prizes depends on the specific situation, and can vary from 15-20 percent (fracture, sudden illness) to 100 percent in the case of death of the insured. When the term of the insurance contract comes to an end, it ceases to operate, with no payments had been made, no matter what was the total amount of premiums for that period. To resume the venture life insurance contract must pay the fee again. Risk insurance handy when you need to protect yourself in a certain period of time. For example, you set off on a dangerous journey to the hot spot.

Endowment. Endowment life insurance can take many forms. You can choose the most suitable for you funded insurance scheme, based on your needs. The essence of this type of insurance in the following.

You sign a contract with the company, usually for a period of at least 5 years. Specifies the value of the premium that you will pay periodically on the insurance contract. The company collects the money on the policy. During the period of the contract of the money goes directly to the insurance coverage, and another, much is embedded in the company from the risk-free investment, yielding a stable income. Thus, at the end of the insurance contract, you get not only the amount of your accumulated contributions, but also the additional profits that the company received, putting your money into investments. This is the main advantage of savings to the insurance venture.

Endowment life insurance is not only a financial protection against accidents, but also a great way to invest. It can help you save money on your child's education at the university (this method of insurance is called "the deadline"), to receive supplementary pensions (pension insurance), and ensure the welfare of your family if you suddenly something happens. The sooner you stop to think about it, the better for you.