The growth was mainly due to increase in the number of contracts for expensive products in auto and life insurance. The total number of new policies for this period has decreased by 6.1%.
As a rule, life insurance is carried out in the following options:
- Survival;
- In case of death: the compensation is paid to third parties specified in the contract (usually relatives);
- In case of death and loss of health;
- Multiple coverage: in this case, all of the above risks are insured. The compensation is paid upon survival, death, and disability.
- Annuity insurance - for survival: under such insurance, when the date specified in the contract comes, the insurance company pays out insurance benefits on a regular basis within the time period specified in the contract. Annuity insurance implies a system of types of insurance, under the terms of which the insurance company is obliged to pay the insured person (persons), upon living up to the term specified in the contract, a permanent insurance coverage. It is should be noted that annuity insurance can mean the payment of insurance compensation to two or more persons, for example, the spouse of the deceased;
- Child insurance: in this case, one person acts as a policyholder; and a person under 18 years of age acts as the insured. The insurance is carried out in case of death, loss of health, survival to adulthood, i.e. 18 years.
Source: https://1prime.ru/insurance/20201227/832689724.html
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