bs-preloader__icon
ru kz en

Purpose of life insurance

The insurance payout amount depends on size of a policy, set by the client, writes the Daily Journal.
Purpose of life insurance

In the event of a lethal outcome, the insurance payout is 100% of the insurance coverage.

In case of injuries, diseases, disability, the amount of payment in percentage of the coverage amount is determined according to the table of insurance payments for injuries.

In its purest form, risk life insurance implies death as a single insured event. In this case, the insured makes one payment or regular installments depending on the agreement. When an insured event occurs, his relatives receive the money.

Risk life insurance often becomes the basis for the so-called combined personal insurance, in which you receive payment even if you are sick or injured. No savings are made in this case.

In such a combined type of insurance, you can independently choose:

  • Payout amount;
  • List of possible adverse events (disability, injuries, deadly diseases);
  • Term: from one year to 20 years or more.

The amount of premiums is calculated by the insurance company representative. It depends on the company's tariffs and other factors (for example, the amount of payments).

Source: https://www.daily-journal.com/life/advice/how-much-and-what-kind-of-life-insurance-is-best/article_cc4ccf9a-9171-11eb-9a24-d749c729d96a.html

Photos are from open sources.

Share
read also
How the Kazakhstani pension system has changed in 10 years
How the Kazakhstani pension system has changed in 10 years

The Freedom Life experts have learned how the Kazakhstani pension system has been cha...

The cases when a life insurer may refuse in insurance indemnity
The cases when a life insurer may refuse in insurance indemnity

Life insurance policy is a product that helps people in their most difficult moments....

The Russian insurance companies told about funny clients
The Russian insurance companies told about funny clients

Insurers sometimes get the most unusual requests from customers and look for solution...

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
Submit your application