Life Insurance is a protection from financial losses resulting from the loss of insurance. The listed beneficiary receives income and protects the financial impact of the insured person. Anticipated amount is paid by the insurer on the basis of a premium payment made by the insured.
How does life insurance work?
Life Insurance is a contract between a person and the insurance company and the life insurance company for the death of the financial risk of the death of the deceased in the case of a certain amount of premium. The form of three parts of the contract of life insurance – emergency assistance, payment of bonuses and in case of permanent insurance of life, monetary accounts.
Emergency Operations: Monetary Fund is received from the insurer receiving money from the insured. Although the amount of emergency assistance is determined by the insured, the insurer must determine whether the insurance benefits are available and that the insurant may be eligible for coverage of its obligations.
Payment for Payment: Usage of Active Assets, Insurance Agent adjusts the amount of the premium that is required for the costs of the deceased. Factors, such as age insurance, personal and family medical history and lifestyle are the main determinants of the risk. As long as the insurer insures the agreed compensation, the insurer is obliged to apply for retirement. For a long-term policy, the size of the insurance is the cost of the insurance. For a permanent policy, the amount of the prize includes the insurance value and includes the amount paid to the account of the letter of credit.
Monetary Cost: Permanent insurance refers to the value of the cash value, which serves two purposes. It is a savings account that allows the insurers to have public capital, which can make the profit of life. Investment is based on value-added tax and can be used for each purpose when the insured is alive. It is also used by the insurer to reduce its risk. As the cash collector collects, the insurer will be reducing for all the benefits that it can pay for a full-time payment.