Life insurance is a type of insurance, or in other words, a contract between an insurance policyholder and an insurer. The insured company undertakes to pay a certain amount of money or benefits in return for the premium to the designated buyer/beneficiary upon the death of the insured person.
Although the terms of the agreement vary depending on the contract, other similar events such as terminal illness or intensive care may also trigger this payment. The policyholder, that is, the individual who takes out the insurance, pays a premium regularly or collectively. Other expenses such as funeral expenses can be included in the benefits provided under the insurance.
Life insurance is the financial security provided to the individual and his/her relatives as a result of all kinds of events (such as death, disability) that may happen to individuals in their daily lives. As a result of these events that can be experienced in daily life, life insurance is provided by paying collateral in predetermined amounts. The amount agreed under the policy is delivered to the insurer or his predetermined heir.
Individuals between the ages of 18 and 69 can apply for Full Coverage Life Insurance if they are healthy. The validity period of life insurance is 1 year. At the end of this period, the policy (insurance) is automatically renewed for 5 years without the need for a health declaration.
In the face of our increasingly dangerous world today, individuals pay attention to life insurance. Thus, there are many benefits of life insurance, which is very popular. These are:
Common forms of life insurance are listed below:
Cumulative Life Insurance
Thanks to the cumulative life insurance, the savings made by the individual protect the individual and their loved ones in case of any life-threatening danger.
Annual Life Insurance
This life insurance only provides death coverage, and in case of death within one year, predetermined persons (beneficiaries) are paid the amount of coverage specified in the policy.
Long Term Life Insurance
Thanks to this insurance, the person is insured against accidents and risks that may occur over a long period of time.
Education insurance, on the other hand, makes the education of the child or children continuous in case of an accident or death of the individual.
Group Life Insurance
This life insurance covering at least 10 people working under the insured person; pays compensation to the insured or their relatives in case of death, accidental death and permanent disability.
In case of accidents specified in the insurance agreement, it ensures that the person receives compensation in case of permanent disability.
Personal Accident Insurance
It covers health-related situations, death and accident situations against sudden accident situations that occur unexpectedly.
The policyholder who takes out health insurance secures himself/herself against all the risks of illness he/she encounters throughout his/her life.
Special Situation Insurance
Special circumstance insurance is issued for special cases that are not covered by any insurance.
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