What is life insurance 2023

 

The purpose of life insurance is to guarantee the performance of capital or pension in the event of the event covered by the insurance, depending on the option chosen by the insured and referred to in the contract: either the insured person dies or lives.

How does it function?

the conditions outlined in the contract.

The guaranteed capital (or annuity) is paid to the beneficiary(s) specified by the insured in the insurance contract in the event of death and in the event of the insured's death before the contract's age. In the event that no recipient is delegated, or on the other hand assuming at least one recipient is selected, and there could be as of now not a recipient upon the passing of the guarantee, the protected capital will frame part of the assets or legacy of the safeguarded.

An application should be submitted alongside the important archives. The contract's deadlines are met when it comes to payment.

Type of insurance:

Individual or group life or death insurance is a type of personal insurance that can be purchased.

Privileges and obligations of the safeguarded?

The Insurance and Social Precautionary Control Authority's "Insured's Guide" can be viewed on its website.

What is the job of the power?

Inside the system of the powers allowed to it by Regulation No. The Insurance and Social Precautionary Authority, which was revised in 12-64, ensures that insurance products offered to consumers are understandable, balanced, useful, and in compliance with applicable regulations. It also ensures that insured people are treated fairly by insurance companies and that reliable information is provided to them.

In case of a debate with your insurance agency:

Institutions and intermediaries However, it is strongly suggested that you first address your complaint with the broker or insurance company in question. You can use any method at your disposal to get in touch with the Insurance and Social Welfare Supervisory Authority if the dispute persists after this process. In order to settle the dispute, the Authority will investigate your complaint and take the best course of action within its authority, in accordance with applicable laws and regulations.