Accumulative insurance implies a long term of savings and provides customers with insurance cover for the contract duration in case of unforeseen situations. Life insurance savings schemes ensure a secure future for clients and their loved ones and maintain a familiar quality of life in unforeseen health situations.
As a rule, the insurance coverage by the expiration time for contract exceeds the amount of deductibles. Many products provide both guaranteed profitability and additional investment income. The yield is about 3-6% per annum with regards to commission and insurance rate under LIC contracts in rubles on average.
Another important function of endowment insurance programs is insurance coverage that works in case of adverse events. In case an insured passes away, an insurance company continues to accumulate and by the end of the contract term beneficiaries receive the full amount. Besides, in certain cases the payment under the contract will make up to two or three insurance amounts.
Photos are from open sources.