Personal insurance is one of the insurance branches which feature is that area of insurance of the given type is the person of the person — his life, health, incomes, work, a family.
Objects of insurance in personal insurance are:
3. Work capacity.
Insured events at personal insurance are:
1. Approach of certain age or event.
3. Health loss.
There are six principal views of personal insurance:
1. Life insurance.
2. Insurance of children.
3. Insurance to wedding.
4. Insurance of additional pension.
5. Obligatory insurance of military men and the persons equal to them.
6. Insurance upon accidents and illnesses.
At life insurance, insurance compensation is paid in case of achievement by the insured of certain age, his death and also a retirement.
In case of insurance of children, insureds are parents or other relatives and the insured persons — children till 18 years. Insurance compensation in the given kind of insurance is paid in a case of the age of 18 years old insured or accidents.
At insurance to wedding, insurance compensation is paid at the introduction by the insured person in marriage or at achievement of age by it 21 years (if it and hasn’t entered marriage).
Conclude the contract on insurance of additional pension men at the age from 25 till 66 years and the woman at the age from 20 till 60 years can. Contract period of validity: from date of insurance to an exit of the insured on pension. On reaching the insured of pension age he for life receives monthly insurance compensation (naturally if he regularly and in full paid insurance payments).
The contract on obligatory insurance of military men and the persons equal to them consists at the expense of the Ministry of Defence and the Ministry of Internal Affairs and operates for service of the insured person. Insurance compensation is paid at approach of accident or death of the insured.
At insurance upon accidents and illnesses insurance compensation is paid after approach of accident or illness of the insured.
Insurance upon accidents and illnesses is a kind of personal insurance. The contract of insurance upon accidents and illnesses consists between the insured (physical person) and the insurer (the insurance company). On the basis of the given contract the insurer undertakes to pay to the insured insurance compensation at insured event approach.
Insurance compensation in the given type of insurance can be paid in two ways:
1. In the form of the certain sum fixed in the contract of insurance.
2. In the form of full or partial indemnification of expenses and losses which were incurred by the insured owing to insured event approach.
3. In the form of a combination of two these variants.
At insurance upon accidents and illnesses, as insured events are considered:
1. Damage of health of the insured after accident or illness.
2. Death of the insured as a result of illness or accident.
3. Constant or time loss of the general or professional work capacity after illness or accident (except those cases which are insured in medical insurance).
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