Classification of life insurance, according to risk covering

 

  • Insurance in case of death: In this type of insurance, the death of the insured, the insurer pays the beneficiary instituted by him the insurance amount.
  • For life insurance: These insurance the insurer pays the insured the insurance amount, always living the expiration of a specified period of time. You can also agree to pay a regular income while the insured lives, from a pre-established date.
  • Mixed insurance: They are a combination of insurance against death and life. Therefore, the insurance amount is paid to the beneficiary if the insured dies before the contract matures, and is given to him if he survives at that time.
  • They are covering according to one or more heads.
  • Insurance on a head: Insurance is paid when the insured person dies.
  • About two or more heads, it ensures the life of two or more persons through this contract and the insurance is paid when one of them dies in favor of another or others.
  • Attentive to the number of persons covered by the policy.
  • Individual Insurance: Are the contracts through which a person is secured with a sure death, life or mixed.

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