As a result of what life insurance policies are distinguished from, they are long-term documents, and as the probability of death increases with increasing human lifespan and the desire of the insured not to increase the insurance premiums collected from the insured from one year to the next, he collects equal premiums from the insured for a period of time Insurance, and therefore these premiums are greater than the risk in the early years and less than the risk in recent years, which results in the necessity of reserving the increase in the premiums for the first years in a special account called the sports allowance and the insurer invests them in order to help them pay the premium deficit in recent years.Ĥ. Life insurance documents are long-term documents that may extend to cover the life of the trustee, that is, life insurance documents are distinguished by the length of time and therefore they are considered investment documents.ģ. the insurer is obligated to pay the entire amount of the insurance to the insured or the beneficiary specified in the contract upon the occurrence of the insured accident, knowing that there are some documents with variable installments not specified in advance in an accurate manner that I do not recommend. Most life insurance documents are from the documents specified value in advance, i.e. The following are the most important features of life insurance documents:ġ. The characteristics of life risks are reflected in the insurance policies that cover those risks. It is difficult to estimate the value of a person, and therefore it is left to the trustee to determine the amount of the insurance according to the ability of the trustee to pay the installments on time. The loss resulting from the verification of life and death risks is always a total loss.ĥ.
Therefore, the relationship between the possibility of death and the age of man is a direct relationship, especially after a person reaches a certain age.Ĥ. The probability of death increases for any person with increasing age, due to the weakness of the human body and its increased exposure to diseases, especially aging diseases. The dangers of life relate to a person’s life or a lack of income.ģ. The risk of death by its nature is certain to occur in the long term, but the occurrence of death on the date of a probable event can happen at any time.Ģ. In the event that the risk of death is covered, we find that the document does not cover the accident of death per se, but rather covers the date of the accident. The following are the most important of these features:ġ. The risks covered by life insurance policies have several features that distinguish them from other insurance policies.
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