What is life insurance?

Life insurance is a product whose purpose is to provide financial security to family members (or other persons mentioned in the policy) in the event of the risk of death of the insured person. The need for this insurance usually comes when there are events in life that increase the responsibility to third parties - marriage, childbirth, credit utilisation. However, the product is also increasingly used as a form of financial savings.

Why order from us?

We will help you make an informed choice about the insurer and product that will satisfy your individual needs and capabilities. We will also offer you the most appropriate financial plan that meets your goals.

Types of Life insurance

  • Risk life insurance - covers the risks of death and illness of the insured person, upon the occurrence of which compensation is paid. These insurances are short-term and have no savings element, that is, they are not due to be paid out on expiry;
  • Savings life insurance - this is a long-term insurance, in which a certain amount is paid periodically (every month, quarterly, once a year). With this product we have a combination of insurance protection and savings, that is, at the expiry of the insurance or the occurrence of an event, the insurer pays the total amount of premiums collected during the contract, and an interest (yield) is added to them, which is not is guaranteed at the time the contract is concluded. Most often, the insurance is taken out by one of the parents for the benefit of the child, in order to secure a certain amount for the child’s education, for the child’s marriage, etc.;
  • Investment life insurance - the difference with the savings life insurance is that with this product, the accumulated funds are invested in funds operating on the global capital market, thus aiming to generate additional income;
  • Accident Insurance -click here for additional information;

Risks covered

The standard risks covered are:

  • Death;
  • Permanent disability;
  • Living to a certain age.

In addition, a wide range of risks are offered, the main ones being:

  • Temporary disability;
  • Daily hospital stay money;
  • Surgical treatment;
  • Critical diseases.

Conclusion and price

There are several options for taking out insurance:

  • Mutual insurance - related parties (relatives, spouses, etc.) are insured;
  • Group insurance - persons included in a list are insured, for example by an employer;
  • For the benefit of a third party - child, spouse, etc.

To determine the price of premium, the following factors are taken into account:

  • The age of the insured;
  • The period of the insurance;
  • The risks covered.

Before taking out the insurance, an application must be completed, accompanied by a health declaration. Medical tests may also be required.