How does endowment life insurance work?

[mahbubamim077]

What associations does the phrase "life insurance" evoke? Even those who have never used this type of policy know that these are contributions to an insurance company (IC), and then receiving payments from it - in the event of an insured event. This is usually considered to be an injury, illness or even death - the last option is the most unpleasant, and compensation is received by relatives of the deceased or other beneficiaries indicated by him.

Life insurance began to gain popularity in Western countries - and then it appeared here. Today, bank borrowers often resort to it. They take out million-dollar loans for many years to buy housing. But if something happens to a person before the money is paid to the bank, the borrower and his family risk ending up on the street. Financial institutions have the right to take away real estate for debts.

Such a policy is also purchased by those whose chinese overseas america data work or leisure is associated with constant travel and professional risks (firefighters, rescuers, athletes, etc.).

Today we will talk about what is cumulative life insurance. It combines life and health protection and a financial instrument. It is easier to save capital with it.

Content
The difference between savings and other types of insurance
Types of accumulative life insurance
Advantages and Disadvantages of Cumulative Life Insurance
Choosing a Life Insurance Savings Plan
Frequently asked questions
Conclusion
There are several types of life insurance. They have one thing in common - protection of the insured and his family members from damage due to objective reasons. For those that could not be influenced in any way. We cannot choose whether we want to get injured or not.

Cumulative life insurance (CLI) is insurance that combines:

Standard policy functions.
A tool for accumulating money.
That is why it is called a combined insurance product.

In essence, such insurance consists of two parts. The first part is "classic" insurance. The larger the amount of the contribution transferred for protection against insurance risks, the greater the final compensation will be. Take this into account. After all, insurance should protect you and cover the damage specified in the contract. This is its main function. But the chances of receiving income are additional.