Endowment
The client regularly replenishes the account until they reach the age specified in the contract. If the agreement expires and the insured event has not occurred, the policy owner receives all the accumulated money and a certain percentage of return. In case of insured event occurrence, the client or beneficiary receives the entire insurance coverage, regardless of the number of premiums paid.
Risk insurance
The client buys insurance for a certain period. If an insured event occurs, the company pays money to the client or persons indicated as recipients. And if the insured event does not occur, the money remains in the company.
Investment insurance
The client entrusts the money to the insurance company, which invests it in securities. This type of insurance generates income and is usually more beneficial than a bank deposit. If an insured event occurs, the client or their relatives receive a lump sum payment; if not, the client withdraws their funds along with investment return.
How to issue a policy?
A list of companies providing insurance services is available on the internet. Having studied information on the website, you can order a specialist advice online or go to the company’s office. The insurer will help you choose a suitable policy - determine the type of insurance, term and amount of the deposit. Large organizations also have mobile applications where insurance can be purchased online.
To conclude a life insurance contract, you only need a personal identity document.
The cost of the policy depends on type of insurance. The more funds you are willing to deposit into your insurance account, the greater the amount of your insurance benefit will be. But this does not mean that the service is available only to extremely affluent people. For example, the endowment premium can be only 5–10 thousand tenge per month.
Source: https://informburo.kz/cards/dengi-na-cyornyi-den-ili-kak-rabotaet-straxovanie-zizni-v-kazaxstane
Photos are from open sources.
