Life insurance
ServicesLife insurance

The main aim of life insurances are to create and collect financial resources, investment and obtaining the resultant profit from the investment and eventually performing liabilities of the insurer company in front of the user. Life insurances and the savings accumulated by it as a factor can have a productive role in improving the national production level and this increase will be effective in capitals payment production level and compensations of all the peoples fields in accelerating the economical wheels of a country.

In life insurances, insured will pay a specific premium on monthly or yearly or in one installment (capital or pension) and after the end of the insurance time will receive the determined money in one turn or on pension basis and in case of the death of the insured before the end of the insurance period the specified amount will belong to the users.

Different types of life insurance

-Time life insurance

-Whole life insurance

-Life insurance to secure the future of children

-Life insurance for the remained of the debtor

-Life insurance and savings

Time life insurance

Life insurance in case of the death or in other words simple time life insurance, is a type of personal insurance which provide insurance cover for a specific time and the insurance investment of the insured in case of death will be payable during the validity time of the agreement and in case that till the expiry of the agreement the insured will be alive, no money will be paid to him or her for the insurer liabilities. These types of insurances are issued for less than one year up to a few years.

Whole life insurance

In this type of the insurance, the insurance company commits to pay the investment (capital) mentioned in the insurance agreement at any time , at the time of the death of the insured, to the used or his legal heir and the validity of it is unlimited , and the insurer against receiving the premium commits to perform his liabilities at any time or at the time of the insured death.

Insurance for providing the future of the children

This insurance is for those who are having small children and are worried about their welfare after their death. As per this insurance, the insurer commits to pay a specific amount monthly to the children of the insured. This will be pay until the children are 18 or as per the articles of the agreement.

Life insurance for the remaining of the debt

In this type of life insurance, the capital of the insurance decreases with time. This type of insurance has so much of use today because so many of banks and credit institutions grant loan to applicants and in case the applicant will die who has received the loan, their family cannot pay the remaining of the debt and the installments of it and the bank can put pressure on the family of the person who has received the loan. For solving this problem the person who has received the loan can insure himself with paying a small premium and in case he will die before completing the loan installments, the rest of them will be paid by the insurance company. This insurance policy is also provided on collective basis and the banks and financial institutions can insure all their borrowers to use the benefits of this type of insurance.

Life insurance and saving

This insurance is in fact the most complete type of life insurances. Because in this insurance plan in case the insured will die during the validity of the insurance, in case he has paid all the premiums the capital (investment) mentioned in the agreement of the insurance plus the investment accumulated from participation in the interests will be paid to the legal heir or users and in case the insured will be alive till the end of the validity of the insurance agreement, the insurance capital plus the capital accumulated through the participations in interests will be paid to the insured person. In fact in this type of insurance , whether the insured person will be dead or alive, the capital of the insurance will be paid to the users of the insurance