Life Insurance

Life Insurance Today

admin — Tue, 12 May 2009 16:53:30 +0000

In economically developed countries, life insurance accounts for between 37% to 78% of charges premiums of insurance companies and the vast majority of insurance contracts. Provisions for personal insurance and especially long-term life insurance are a major source of internal domestic investment.
Currently, life insurance is one of the most representative and dynamic lines of insurance. The total amount of life insurance premiums collected worldwide in 2002 amounted to 1.5 trillion dollars, which is 3% more than in 2001. The largest market growth was observed in China, India and Latin America. Market penetration of life insurance (the share of insurance premiums in the total GDP) in 2002 in the UK amounted to 10,2% in the Czech Republic - 1.5%, in Russia - only 0.017% (estimated UM ARL).

Major players in the market of life insurance are: Allianz (Germany), AIG (U.S.), AXA (France). The volume of premiums for life and health insurance company Allianz in 2003 amounted to 40.1 billion euros.

Tariffs building on the market of life insurance

admin — Tue, 12 May 2009 16:46:37 +0000

Insurance rates for voluntary insurance are determined by the insurers themselves. Insurance rates, calculated by the insurance company should be reported in the Regulation on types of insurance that are provided to the Department of Insurance Supervisors to obtain a license for insurance activity. During the validity period of license supervision meet the real tariff specified in the Rules. Violation of consistency could lead to suspension or even revocation of license from the insurer. In determining the amount of premium payable under the insurance policy, the insurer uses those developed rates that determine the premium, taking into account the characteristics of the object of insurance, the nature of insurance risk, the amount of insurance liabilities and the period of insurance. In addition, the insurer may, when determining the amount subject to payment of insurance premiums and increase the use of reducing factors to base insurance rates, as determined by risk factors, and also established in the Regulation of insurance.

Why life insurance?

admin — Tue, 12 May 2009 16:41:50 +0000

Life Insurance - this is proven method of long-term protection of the welfare.

The insurance policy provides you the guarantee of financial stability and ensures the future of your beloved ones, regardless of the vicissitudes of fate.

Our lives often depended on random events that can not only change our own destiny, but also affect the financial well-being of loved ones. Health, a decent standard of living of the family, good education for children, additional retirement savings - all this is achieved through a stable money in various financial instruments: bank deposits, securities, in his own business, real estate, in mutual and pension funds and personal insurance. Every tool has its own characteristics.
For personal insurance includes all types of insurance related to the probabilistic events in the life of the individual. According to the classification of insurance, the life insurance industry include insurance, in which the object of insurance is the property interests associated with the endowment of citizens to a certain age or time, death, onset of other events in the lives of citizens (life insurance), with injury to life and health (insurance against accidents and diseases).

One of the main types of life insurance is life insurance, which, together with the accumulation of funds (funded pillar), also performs the function of protecting the insured against unforeseen circumstances - injury, a group of disability or death (risk components).