What is a life insurance contract. Features and forms of life insurance contract. Cons and pros of endowment insurance

Pokrovsky Nikita Alexandrovich
FGBOUVO "VGUYU",
Master,

Supervisor: Nekrasov Andrey Igorevich
FGBOUVO "VGUYU"
Candidate of Law, Associate Professor of the Department

The essential conditions of a life insurance contract are the conditions established by paragraph 2 of Article 942 of the Civil Code of the Russian Federation. It is these conditions that must be agreed upon to conclude a life insurance contract.

Information about the insured person;

Information about the nature of the insured event, that is, events in the event of which the insurance is carried out in the life of the insured person (for example, harm to life or health, death, survival to a certain age);

The amount of the insured amount, that is, the amount within which the insurer undertakes to pay the insurance indemnity upon the occurrence of an insured event;

The term of the life insurance contract.

The absence of any of these conditions is considered as an unconditional basis for recognizing a life insurance contract as not concluded.

Knowing the basic conditions of a life insurance contract, it is possible to determine the legal consequences that may arise in connection with the recognition of such a contract as not concluded.

The main negative consequence of the recognition of the contract as not concluded for the policyholder is the impossibility of enforcing the contract. For example, if a life insurance contract is recognized as not concluded, it means that it does not give rise to any rights and obligations for the parties and this contract cannot be fulfilled. Consequently, the insurer has no obligation to answer to the policyholder (insured person, beneficiary) for the payment of the sum insured upon the occurrence of an insured event.

Such a method of protection, as recognition of a transaction as not concluded, is quite often used by an unscrupulous party in order to avoid the liability provided for in the contract for non-performance (improper performance) of an obligation in the form of payment of contractual penalties, fines, losses associated with the refusal to perform (improper performance) by the other party of such contract. The guilty party often refers to formal grounds, for example, the absence in the text of the agreement of essential conditions that allow the agreement to be considered not concluded.

In addition to the above, it is also advisable to include in the life insurance contract:

Information about the beneficiary in the event of an insured event. For example, it can be a spouse, parents, children, etc. Several beneficiaries can be appointed. The beneficiary may be the insured person, for example, if the insured person is expected to live up to a certain age as an insured event;

Cases not recognized by insurance - for example, the suicide of the insured person, his death as a result of civil unrest, etc .;

Information about the insurance premium (insurance premiums), its size, terms and procedure for payment by the insured - for example, by installments or a one-time payment, in cash or by bank transfer;

Information on the timing and procedure for payment of the sum insured upon the occurrence of an insured event;

List of documents to be submitted to the insurer upon the occurrence of an insured event;

Information about the registration of the fact of the occurrence of an insured event - for example, about the drawing up of an insurance act by the insurer, the timing of drawing up;

Conditions on the liability of the insurer and the policyholder, in particular, for violation of the terms of payment of the insurance premium by the policyholder, payment of insurance compensation by the insurer upon the occurrence of an insured event;

Information about the rules of insurance with the insurer, attached to the contract as an integral part of it.

The lack of agreement on any other (in addition to the essential) terms of the agreement is not considered as a basis for recognizing the agreement as not concluded.

Life insurance contract, as a rule, is concluded for a long term - from five years or more. It should be noted that life insurance for a certain period has several varieties. It can be a non-renewable or renewable policy, convertible (reversible) or with diminishing coverage. A renewable policy provides the opportunity to re-conclude a life insurance contract for a new period of the same duration. Convertible - allows you to change the conditions of insurance at your request, for example, instead of risk insurance, switch to accumulative insurance. As for the policy with reduced coverage, it is designed for people over 60 years old. At this age, the cost of life insurance rises sharply, and insurance premiums increase accordingly. Therefore, if the client is not ready to increase insurance costs after 60 years, he can purchase a policy according to which the amount of contributions will remain unchanged, but the amount of compensation will decrease.

If you want the life insurance contract to reliably protect you from possible adversity, you need to answer the questions of the representative of the insurance company very accurately and honestly when you draw up a personal insurance policy. If you try to hide information about your illnesses, lifestyle or work peculiarities in order to save on the cost of insurance, you may be left without insurance payment when there is a reason for this. In particular, if you hide the fact that you have a serious chronic health disorder, such as cirrhosis of the liver, and subsequently end up in hospital or die from this ailment, the insurance company will refuse to pay you or your heirs. It will be established that you have hidden information that is essential when concluding an insurance contract, and such an agreement will be invalidated. The same applies to the increased risk associated with the performance of official duties.

Insurance companies are interested in their clients, so many of them are ready to make some concessions to give you time to restore your solvency. If your financial problems are of a short-term nature, you can try to negotiate with the insurance company to delay payment for one or two months, this is a quite common practice.

If you have serious money problems, you can "freeze" the insurance contract for a while. You agree: now I cannot pay, but I want to restore the contract in six months. However, it is not necessary to suspend the policy. It is enough to agree with the insurance company to change the payment schedule in order to reduce the premium.

Let's say you made a life insurance premium once a year - and it was an impressive amount. By switching to quarterly installments, you reduce the pressure on your budget until your ability to pay gets better. Also, the amount of payment for insurance can be reduced by reducing the amount of the insured amount, that is, the amount of compensation in the event of an insured event will become less. This, of course, is not very profitable, but in this way you retain protection against all the risks from which you were insured. You can also consider this option: you keep the amount of the insured amount unchanged, but refuse insurance coverage for some risks.

Life insurance is the most important component in the system of insurance protection of citizens' interests. The set of life insurance types is designed to provide insurance payments in the event of social risks and, first of all, in connection with the loss of general working capacity, retirement benefits and the loss of the family breadwinner.

The listed insurance interests in the conclusion of an insurance contract determine the purpose of disability insurance, pension insurance and death insurance. The terms and conditions of life insurance contracts are very diverse. The basic contract can have many modifications that combine different risks in an individually drafted contract.

Life insurance is a collection of types of personal insurance that provide

the obligation of the insurer to make insurance payments in the following cases:

Survival of the insured until the end of the insurance period or the age specified in the insurance contract;

Death of the insured.

Insurance payments under life insurance contracts in cases stipulated by the insurance contract can be made to the beneficiary, or to the heir, or to the insured himself in the form of periodic insurance payments - annuities (pensions, annuities) or in the form of a lump sum insurance payment. At the same time, it is legally established that the term of life insurance contracts cannot be less than one year, and when calculating insurance rates and forming insurance

reserves should be used mortality tables.

If in types of insurance other than life insurance, the insurer analyzes the likelihood of an insured event occurring during, as a rule, a calendar year of insurance, then in life insurance, the risk inherent in a person's life becomes the subject of insurance. This forces the insurer to analyze the likelihood of the policyholder (or the insured) surviving to the age or term specified in the insurance contract.

Life insurance is drawn up by an agreement, according to which one of the parties, the insurer, undertakes to pay the stipulated insured amount if during the insurance period the specified insured event occurs in the life of the insured, subject to the receipt of insurance premiums paid by the insured. As can be seen from the definition, a life insurance contract is associated with the life of a specific person - the insured therefore, the insured must be specified in the contract so that the likelihood of his death during the term of the contract can be estimated. Allocate own life insurance contracts, when the policyholder and the insured are one and the same person, and third party life insurance contracts, when the identities of the policyholder and the insured do not match, but the policyholder has an insurable interest in the life of the insured. The presence of a larger number of insured persons is permissible, provided that the policyholder has such an insurable interest.

Third parties can participate in the insurance obligation ~ beneficiary and insured person.

Beneficiary (beneficiary) - an individual or legal entity with an insurable interest, in whose favor the policyholder has entered into a life insurance contract.

The presence of such an interest is directly fixed for property insurance contracts; for life insurance contracts, such an interest is not necessary.

With the appointment of the beneficiary, neither the insurer nor the policyholder withdraws from the insurance contract. This is due to the fact that the beneficiary's right acquired directly from the contract has a second character. In order for it to be transformed into a subjective, defensible right, the beneficiary must express his will. Otherwise, the policyholder continues to be the holder of the relevant right.

The presence of a beneficiary allows us to consider the corresponding insurance contract as a type of contract in favor of a third party (Article 430 of the Civil Code of the Russian Federation), but does not fit into the classical model, since according to paragraph 2 of Art. 939 of the Civil Code of the Russian Federation, the insurer has the right to assign to the beneficiary who has submitted claims for insurance payment, the performance of certain obligations not fulfilled by the insured.

If the beneficiary is not explicitly named in the life insurance contract, the contract shall be deemed concluded in favor of the insured. In the event of the death of a person insured under a contract in which no other beneficiary is named, the heirs of the insured person are entitled to receive the insurance benefit. In a life insurance contract that is concluded for the insurance of an insured person other than the policyholder, the beneficiary may be appointed or changed only with the consent of the insured person or directly by the insured person. In the absence of such consent, ”the contract may be invalidated at the suit of the insured person, and in the event of the death of this person - at the suit of his heirs.

According to article 956 of the Civil Code of the Russian Federation, the insured has the right, at his discretion, to replace the beneficiary named in the insurance contract with another person, notifying the insurer in writing. In the event that the beneficiary has fulfilled any of the obligations under the insurance contract or presented the insurer with a claim for insurance payment, its replacement is impossible.

The legislation does not oblige the insurer to inform the beneficiary about the insurance contract concluded in his favor. Therefore, the insured and the beneficiary must do this themselves and explain when, on what conditions and upon presentation of what documents the beneficiary can receive the insurance payment.

The insured person is another party to the life insurance contract. It is a natural person whose intangible benefits (life, health) are associated with the property interest of the policyholder. In other words, the insured is a person in whose life an event can occur that will entail the obligation of the insurer to pay the insured amount to the policyholder (beneficiary).

The insured person is always present in the insurance obligation if the policyholder is a legal entity. For example, an enterprise (employer) may conclude a contract with an insurance company to insure the life and health of its employees.

The policyholder has the right to conclude an insurance contract in his favor, being in this case both the insured person and the beneficiary.

It is also possible that the policyholder, the beneficiary and the insured person are represented by three different persons. For example, a son (policyholder), with the consent of an elderly mother (insured person), can insure her life in case of death in favor of her daughter, her sister, who becomes a beneficiary under an insurance contract.

This situation is quite vital: for example, a daughter is caring for an infirm mother, and a brother in this form provides her support after the death of the mother.

As well as in relation to policyholders and in respect of insured persons, the insurer may impose restrictions on age or health status at the time of the transaction, which form the basis of the underwriting process in life insurance.

The main types of life insurance contracts

In theory and practice of life insurance, three groups (classes) of insurance contracts are distinguished, which can exist both individually and in one combination or another:

1. Term life insurance.

2. Survival insurance.

3. Life insurance.

Term life insurance involves payment to the beneficiary of the insurance amount established under the insurance contract if the death of the insured person occurs within a certain period of time established under the contract, which is less than the life of the insured person. Survival insurance, like term insurance, involves the payment of the insurance amount to the beneficiary in the event of the death of the insured person within the period of time established by the contract, but additionally also presupposes, as a rule, the payment of the insured amount to the insured person if he survives the deadline set under contract. And finally, life insurance involves the payment to the beneficiary of the insurance amount established under the insurance contract in the event of the death of the insured person, regardless of when the death occurred. As a general rule, a “cash value” is not typical for term life insurance, whereas in life insurance and life insurance it, as a rule, is.

A separate group (class) of life insurance contracts includes insurance with the payment of annuities. Annuities are, as a rule, monthly payments to the person identified under the insurance contract as the recipient of these payments (the beneficiary, who in English terminology in this class of life insurance contracts is called annuitant). Annuities in life insurance practice are an accumulative instrument, realized initially through the accumulation of an annuity fund with the condition of its subsequent regular use throughout

a certain number of years.

The above general classification of life insurance contracts is still relevant today, although in individual cases it is sometimes not always possible to clearly establish to which class or type of life insurance contracts a particular policy should be attributed.

The features of each type of insurance contracts are reflected in more detail below. They, in particular, make it possible to verify how great the degree of "mobility" and the possibility of transforming one type (class) of the contract into another during the period of its validity.

1. Term life insurance in case of death (term life insurance). Term life insurance assumes that the insurance company undertakes an obligation to pay

to the beneficiary the amount specified in the contract upon the death of the insured, and the policyholder undertakes to regularly pay insurance premiums to the company. The agreement is concluded for a specified period, but contains provisions that allow it to be extended. However, the insurer reserves the right to revise some provisions of the contract after this period and conclude it, with the consent of the policyholder and the insured, for the next period on different conditions. Most often, the revision affects the determination of the value of the tariff. The company, as a rule, offers a table of tariffs calculated for several categories of insured, divided by sex and age, based on the mortality tables of the population of this sex and age group. The principle applies here: the higher the risk of death of this or that category of citizens, the more expensive the insurance. A term life insurance contract can be concluded with the right to renew it by the policyholder, i.e. the policyholder can renew the contract for the initially specified number of years (renewal period) until the age of the insured has exceeded the limit. For the insurer, such a contract provides for a warranty period, during which the insurer renews the contract for the next year at the rates specified in the original contract.

To attract customers, companies can offer, in addition to a simple type of life insurance, also pay policyholders periodic bonuses, which depend on the results of the company's work for the year. As a rule, the amount of the bonus is proportional to the sum insured under the term life insurance contract. The company can offer different options for using this additional monetary amount: direct it to reduce insurance premiums in future periods, leave a bonus for the company's investment, direct the bonus to increase the insured amount without increasing insurance premiums.

The terms of this type of life insurance do not provide for the payment of the redemption amount to the policyholder (beneficiary). Another negative side of this contract for the policyholder is the constant increase in the insurance premium each time the insurance contract is renewed, and because of this, insurance coverage can be very expensive by the end of the contract, therefore, over time, it becomes profitable to convert a term life insurance contract into a life insurance contract. insurance or survival. Contracts implying this possibility refer to convertible urgent insurance.

Among the special types of term life insurance, insurance with a decreasing and increasing insured amount can be distinguished. Insurance with diminishing insurance sum provides for the reduction of the insured amount every year to zero at the end of the contract. Since term insurance can serve as a guarantee of loan repayment even in the event of the death of the borrower, the insured can appoint a lender as a beneficiary and insure his life for the amount of the loan. A decrease in the sum insured will correspond, in this case, to the gradual repayment of the debt. Term insurance with increasing insured amount based on taking into account the effect of inflation, which reduces the real cost of coverage.

Family income insurance, as a rule, it is an addition (option) to term life insurance. Its purpose is to provide the beneficiary with a guaranteed income over a specified period of time.

So, after the death of the insured person, the beneficiary is paid not a one-time fixed sum insured, but an annuity that replaces the income of a deceased family member. The frequency of such payment may be different ~ monthly, quarterly, annual, and such payment is carried out until the expiration of the insurance contract. Family income insurance may also imply a clause on an automatic increase in payments, for the implementation of which two main models are used: the first - an increase in income in terms of family income insurance - is carried out during the period of the insurance contract from the moment of its entry into force until the moment the insured event occurs, and the second - an increase in income occurs during the entire period of the insurance contract. This provision of the insurance contract is designed to protect the beneficiary from the impact of the inflation factor. This coverage extension is provided at an additional premium rate.

2. Insurance for survival (endowment). Survival policies provide for the payment of the insured amount at a certain point in time in the future or in the event of death before the expiration of this period. This contract contains all the features of a term life insurance contract, but is added by the obligation of the insurer to pay the insured amount upon surviving until the end of the insurance period, and the policyholder is entitled to the redemption amount.

The premium for this type of life insurance is higher than the premium for term death insurance because setting the expiry date of the policy means that most claims are made earlier and, therefore, premiums will be collected in a shorter period of time. The "accumulative component" is formed not only by the insurer investing accumulated funds, but also by redistributing funds between the insured for this type of insurance, that is, all those who survive until the end of the contract with their periodic

contributions cover the amount of security paid for those who did not live up to that date. The survival rate itself for a particular person is formed by three main factors: the age of the insured, the forecast of the mortality rate for the entire circle of insured in a given company and investment opportunities in the current market situation. The simplest form of a survival contract is a no-profit survival contract, in which the rates of insurance premiums and insurance payments are fixed.

There are not many additional options for survival insurance, although inexpensive survival insurance contracts are the most commonly used (low-cost endowment), which are additional security for a certain age. The risky part allows you to pay some expenses, for example, related to the acquisition of real estate, loans, etc. The payment options are quite diverse: it can be a lump sum, a fixed annuity, or a combined payment option.

Quite often, this type of life insurance contract is used to insure children (for a certain age, event, etc.).

Few of the insurers use the opportunity to receive the redemption amount, and also few use the opportunity to get a loan from the insurance company for the amount of the insured amount on preferential terms, since survival insurance is usually considered by policyholders as a way of saving, and all of the above options provide for damage to accumulation. For survival insurance, insurers may offer profit sharing. Policyholders are usually asked to dispose of bonuses in the same way as in the case of a term life insurance contract. The main disadvantage of the contract

insurance is the fact that with the long-term nature of the contract, its terms cannot be changed by the parties during the period of its validity.

3. Life insurance (whole life insurance). Life insurance is mainly used to protect the dependents of the insured in the event of his death, which is an insured event. This type of life insurance contract dominates the markets of developed countries. For example, 56% of the population of Germany has at least one life insurance policy. For the insured, such a scheme is no different from life insurance for up to 100 years, and for the insurer from term insurance - in case of death for a period of 100 years. The standard contract contains unchanged throughout the entire period of validity

the contract for the amount of insurance coverage in the event of death. Under such agreements, the policyholder acquires the right to receive the redemption amount after the first two to three years of payment of insurance premiums.

Under a standard life insurance contract, the policyholder pays the same premiums over the period specified in the contract. When setting tariff rates, the insurer is guided by the mortality rates of the insured, the profitability of available financial instruments, and the costs of running their own affairs. Without terminating the contract, you can use the savings that in this case exist for the policyholder as face value poles and get a loan from a company at preferential rates. These actions reduce the redemption value of the policy, but enable the policyholder to independently make investment decisions and influence the investment growth of the face value of the policy, since bonuses are distributed in proportion to the face value of the policy and on other parameters (insurance amount and insurance premium). Let's consider some of the most common modifications of the life insurance contract.

A. Limited-payment whole life

The policyholder independently determines the period for payment of premiums: pay the entire amount of the premium in a lump sum or pay throughout life. The payment period can be expressed in the forthcoming number of full years of life of the insured (5, 10, 20) or end in connection with any event (reaching retirement age). Due to the limited period for paying premiums, this type of insurance can be quite expensive for the policyholder in the early years.

B. Interest-sensitive whole life

The payment of bonuses is not provided, and all investment income is automatically directed to the increase in the face value. The mechanism is as follows: the policyholder pays a premium from which the costs of managing the contract are deducted, the balance is added to the accumulation fund at the end of the previous year, and the entire amount is accrued income from the rate of return for this type of insurance for this company, then the costs of paying the insurance premium are deducted in case of death. The remainder is the face value of the policy.

In this case, there is always a difference between the face value of the policy and its redemption amount in favor of the face value. Allocate investment life insurance with low and high annual income. An insurance contract with a low annual premium provides for the right of the insurer to revise the insurance rate after the expiration of the warranty period. For those who have entered into an agreement with an increased premium, all fluctuations in the tariff are reflected in the face value of the policy without the participation of the policyholder.

B. Variable whole life insurance

This type of contract of variable life insurance differs from all others in terms of its economic content and capital turnover scheme. The expenses of the insurer for business management, the death contribution are deducted from the amount of the premium, and the remainder is invested in the individual savings account of the policyholder. The insurer offers a certain set of investment funds, and the increase in the face value of the policy and the insurance amount in case of death depends on the success of the investment. At the same time, all investment risks are borne by the insured, and the insurer guarantees the minimum amount of the insured amount in case of death, which increases if the assets in the savings account grow with a certain rate of return. The insurer does not guarantee the relative value of the face value of the policy, and the entire investment income is added to it, bypassing the bonus mechanism.

D, Universal whole life insurance

Universal life insurance implies the possibility of choosing various schemes for calculating the insured amount, a flexible system of payment of insurance premiums, broad investment opportunities, with the exception of the participation of the insured in making investment decisions.

There are 2 methods of recalculating the sum insured in case of death. According to the first method, the amount does not change throughout the entire period of the contract, but if the face value of the policy approaches the insured amount, then the contract clause is valid, implying the purchase of additional insurance units. This is done in order to prevent the life insurance contract from turning into a survival insurance contract.

According to the second method, the insured amount is constantly growing by the amount of the increase in the personal value, i.e. new insurance units are constantly being purchased for the amount of the increase in the face value. The contract contains a clause on "Planned periodic insurance contribution ", which allows the contract to remain in effect even with a negative face value. The insurer undertakes not to terminate the insurance contract if the policyholder pays the minimum agreed amounts. The period of validity of such a provision is limited, and then the contributions must be increased. The increase in the insured value is carried out according to

the general scheme: the insurer guarantees a minimum rate of return, and the real amount is announced at the end of the year or depends on the profitability of the selected financial instrument.

The policy may include a number of additional conditions: indexation of the insurance amount in case of death; payment of the sum insured in the event of the death of a family member of the insured; accelerated growth of the sum insured in case of death; the ability to temporarily switch to the payment of a premium only for term life insurance.

D Variable whole life insurance

The participation of the insured in making investment decisions is added to the universal life insurance. Buyers of such a policy risk the very face value of the policy. The winnings are not shared among all policyholders, but are credited to an individual savings account. The insurer acts more as a dealer in the stock market, representing the interests of the insured. Such life insurance is now very widespread in developed countries as part of the financial planning system mentioned above.

4. Life insurance with payment of annuities

This type of insurance is also called annuity insurance or pension insurance.

The contract is designed to ensure, in old age or under other circumstances, the preservation of the level of income that is possible with active labor activity. If the policyholder lives up to a certain period specified in the contract, the insurer undertakes to pay the policyholder insurance coverage in a certain amount at a certain frequency for a certain time.

The obligation of the insurer to pay the sum insured occurs only when the insurance premiums have been paid by the insured in full. Based on this, there are 2 periods of the contract: the period for the payment of insurance premiums and the period for the payment of insurance annuities.

Sometimes there may be more between them waiting period(grace period). Contributions can be paid at regular intervals or in a lump sum.

Usually, the policyholder is given the right to change the size of the annuity, the frequency of its payment, the conditions for accumulating the reserve of contributions. If the contract is terminated before the due date, the policyholder has the right to receive the surrender value. The contract also establishes the procedure for calculating the amount that the heirs can claim, including if the death of the policyholder occurs during the period of insurance payments.

A. Immediate Life Annuity

The insurance premium is paid by the insured in a lump sum, and the obligations of the insurer for the insurance payment must be carried out immediately at a specified frequency. An immediate annuity option is a guaranteed annuity that specifies a minimum payment period. It will be paid over the guaranteed period or the entire life of the policyholder, whichever is longer. If he dies within the guaranteed period, then the remainder of the guaranteed amount will be paid to the heirs.

B. Deferred Life Annuity

The policyholder can pay insurance premiums for a certain period or in a lump sum. This option assumes a waiting period between the end of the period for payment of contributions and the beginning of the payment of annuities. It is possible to establish the right of the heir to the redemption amount in the event of the death of the policyholder during the waiting period.

B. Time-based annuity (immediate or deferred)

The insurer pays annuities only for a specific period of time.

The contract stipulates the deadline for payments.

The insurance contract can be concluded on the terms of joint life insurance and annuity for the last survivor. Such a policy is convenient for married couples, when, after the death of one of the spouses, payments are preserved in full or slightly reduced.

Insurers also offer escalating annuities to reduce the impact of inflation.

This type of personal insurance is very popular in developed countries, since it is the most affordable of the most reliable ways to secure a pension, bonuses for this type of insurance are often tax-free, and the yield is about 2% higher than for other investments. For example, in the Federal Republic of Germany, 80% of the population considers insurance with the payment of annuities to be the safest way to provide income after retirement.

Life insurance underwriting principles

The mortality rate directly affects the price of insurance services and the thoroughness of the underwriting carried out by the insurer in connection with the conclusion of the insurance contract. Obviously, not all insured persons can be accepted for insurance on the same terms. The classification scheme can take into account the difference in the estimated mortality rate among smokers and nonsmokers, and, therefore, the volume of medical underwriting, and if a positive decision on insurance of a person is made, the cost of insurance will differ for a smoker and a non-smoker citizen.

Life insurance companies should determine:

a) the limits within which expected mortality (or morbidity), as well as standard premium rates, will be considered equal to the average, and

The main purpose of underwriting is to ensure that insurance is carried out on conditions and at such a premium that exactly correspond to the degree of risk assumed for insurance.

Risk (term) underwriting, widely used in the insurance business, involves two main elements: (1) selection and (2) classification.

Selection Is the process by which the insurer evaluates the insurance claims of customers to determine the extent of the proposed risk. Classification Is the process of assigning the policyholder to the appropriate group of customers with approximately the same expected possibility (probability) of an insured event.

Generally accepted principle underlying the insurance company's underwriting philosophy - the standard group should include a large percentage of policyholders who meet the average standard in being able to be insured.

The main factors that life insurance companies take into account when underwriting life and health insurance are as follows.

Age. The mortality rate expected in subsequent years largely depends on the age of the insured. The older a person is, other things being the same, the higher the likelihood of his death.

Floor. The gender of policyholders, like age, is rarely considered as a selection factor, but this factor is usually used as a classification factor (in determining the premium rate) in life insurance. The expected annual mortality rate for females is lower than the expected annual mortality rate for males with the same rates.

Medical aspects -Physical condition and medical history.

Insurance companies ask for information about the insured that could affect the likelihood of an insured death. The insurer may request individual medical records for examination.

These factors that form the life insurance underwriting standards are not exhaustive, but they remain fundamental in making an insurance company decision on insurance and its conditions.

25. Features of insurance against accidents and illnesses.

Accident and illness insurance is one of the traditional types of insurance.

The purpose of accident insurance is to compensate for the harm caused to the health and life of the insured as a result of an accident.

Accident insurance can be provided on a compulsory basis or on a voluntary basis.

Compulsory insurance against accidents is one of the elements of the social insurance system and covers the risks of occupational injuries and occupational diseases.

This is a rather limited coverage in terms of the list of insurance risks and the amount of insured amounts, which in the case of insurance against industrial accidents applies to the consequences of accidents occurring at the workplace or during working hours, including the time of travel to the place of performance of official functions and following from the place work home. The employer pays the insurance premiums in full.

Another type of compulsory insurance against accidents is compulsory state insurance of life and health of those categories of civil servants whose professional activities are associated with an increased risk of accidents in the performance of their official duties. These are military personnel, employees of internal affairs bodies, judges, bailiffs, employees of the tax police, employees of institutions and bodies of the penal system, etc.

State personal insurance covers the risks of death, disability of the insured as a result of injury, mutilation, bodily harm, which occurred during the performance of the insured's official duties. Insurance coverage is established on the basis of the size of the official salary or on the basis of the amount of the minimum monthly wage.

The basics of compulsory state insurance for various categories of employees are enshrined in the relevant regulations:

a) Federal Law "On compulsory state insurance of life and health of servicemen, citizens called up for military training, privates and commanding officers of the internal affairs bodies of the Russian Federation, employees of institutions and bodies of the penal system and employees of federal tax police bodies";

b) The Law of the Russian Federation "On the Police". Law "On Internal Troops of the Ministry of Internal Affairs of the Russian Federation";

c) RF Law “On the Status of Judges in the Russian Federation”;

d) Law of the Russian Federation "On private detective and security activities in the Russian Federation" and others.

Compulsory insurance against accidents is also found in transport. So, compulsory personal insurance of passengers transported by air, rail,

by water and road transport on intercity and tourist routes, is carried out in relation to the risks of death, injury, bodily harm resulting from an accident that occurred while following any of the listed types of transport. The maximum insurance amount payable in the event of the death of a passenger is fixed by law and amounts to 120 minimum monthly wages and is calculated as of the date of purchase of the travel document.

In the event of an injury or injury, the amount of insurance coverage is calculated in proportion to the severity of the bodily injury or injury sustained as a result of the accident.

The cost of insurance is included in the cost of the travel document.

The terms of the insurance contract, the calculation methodology and economic justification of insurance rates, as well as the regulation on the procedure for the formation of reserves for compulsory insurance of passengers are approved by the insurance supervisory authority, and then the rates are agreed with the Ministry of Transport and Communications of the Russian Federation.

Currently, voluntary insurance against accidents and illnesses also has several models of implementation (individual and collective) and provides insured persons with insurance coverage against the economic consequences of bodily injury, sudden illness, disability, death that occurred as a result of unforeseen and accidental events qualified like an accident.

In the classification of types of insurance activities, given in the "Conditions for licensing insurance activities on the territory of the Russian Federation" dated March 19, 1994, it is precisely the concept of "insurance against accidents and illnesses" that is used. It includes: “... a set of types of personal insurance that provide for the obligations of the insurer for insurance payments in a fixed amount or in the amount of partial or full compensation for additional expenses of the insured,

caused by the occurrence of an insured event (in this case, a combination of both types of payments is possible) ".

Thus, the fundamental criteria for classifying an incident as an accident in its broad sense for insurance purposes (actually an accident and illness) are:

a) the suddenness of the impact; at the same time, suddenness suggests that the event should be relatively short-term in terms of its harmful effect on the human body;

b) impact that does not depend on the will of the insured; in other words, they also talk about the unforeseen impact, that is, causing harm to the life and health of the policyholder (insured person) unintentionally, not at the will of the insured;

c) the impact is external; external influence refers to both human actions and natural phenomena or mechanical influences that harm the anatomical and physiological integrity of a person;

d) impact, identified by time and place of occurrence; this is an extremely important aspect for establishing the very fact of an insured event;

e) the impact manifested in the violation of internal or external functions of the body.

The most common definitions of disability used in the practice of Russian insurance companies are as follows:

Permanent complete loss of general working capacity- complete and absolute incapacity for work, which does not allow the insured person to engage in any work activity and which lasts until the end of his life.

Partial complete loss of general working capacity- loss of limbs, vision, hearing, speech or smell. Thus, this type of disability is equated to a certain type of bodily injury or other deterioration in body functions.

Temporary disability (illness)— the physician's inability to perform work for a relatively short period of time - up to three months, after which the patient should be sent for a VTEK examination to determine the degree of loss of general ability to work.

Under bodily injury at the same time, they understand a violation of the physical integrity of the body or an illness of the insured, provided for in the tables of the amounts of insurance payments, which occurred during the period of the insurance contract due to an accident. Whereas disease implies any health disorder not caused by an accident, first diagnosed on the basis of objective symptoms after the entry into force of the insurance contract.

Quite often, insurers also highlight the concept loss of professional ability to work,

which implies full or partial incapacity for work, which does not allow the insured person to engage in his professional activities.

Persons requiring constant care- these are persons who, due to the objective state of health, cannot independently serve the physiological needs of the body and (or) need special medical (therapeutic, therapeutic, diagnostic) care.

The disability group is established in accordance with the requirements and based on the opinion of the MSEC, characterizes the degree of disability and determines care requirements, indications and contraindications of a medical nature. The MSEC requirements provide for the establishment of three groups of disabilities.

First group of disability presupposes social insufficiency due to health disorders with persistent, significantly pronounced disorder of body functions caused by diseases, the consequences of trauma or defects, leading to a pronounced limitation of life.

Second group of disability is defined as social failure due to health problems with persistent severe disorders of the body's functions caused by diseases, the consequences of trauma or defects, leading to a pronounced limitation of life.

AND third group of disability It stands out in relation to social failure due to health disorders with persistent, slightly or moderately severe disorders of body functions caused by diseases, consequences of trauma or defects, leading to a mild or moderately pronounced limitation of life.

When insuring children against accidents and illnesses, a certain specificity in the formation of insurance coverage is manifested in the fact that children are not yet able to work and the scale of disability groups is equally inapplicable to them. With regard to children, we can only talk about such risks that can be insured, such as various injuries (bodily injuries), as well as the very fact of assigning a disability without reference to a specific group.

Thus, current trends in the structuring of insurance coverage for insurance against accidents and illnesses boil down to what is standard coating extends to the classic, traditional manifestations of an accident.

but extended coverage may also include insurance coverage for:

a) sudden illnesses equated to accidents, and

b) cases of disability (temporary, permanent, professional) or for various groups of disability (if the insurer continues to adhere to the Russian scale for assessing the degree of loss of health of a citizen).

The contract is concluded on the basis of a written statement of the insured, which also contains questions about all conditions and circumstances that are essential for accepting the risk for insurance, and the criteria for selecting risk are subjective risks, profession, age and health of the insured, etc. The insurance contract is concluded on the basis of statements of the policyholder.

Profession until recently remained the most important criterion for selecting risk, and other criteria, such as, for example, engaging in certain sports, complemented it.

So, the groups of policyholders (insured persons) according to this criterion are delimited by the following categories:

a) 1st category- sedentary professions with rare movements; professions related to the control of physical and manual labor; workers in low-risk factories (for example, real estate agent, insurance agent, kindergarten teacher, neuropathologist, oculist, archivist, architect, choreographer, geographer, etc.);

b) 2nd category- manual workers in workshops and industrial enterprises (without the use of mechanical means); manual workers (without the use of explosive materials and traumatic equipment) (for example, plumber, agronomist, lawyer, actor, psychiatrist, physiotherapist, biochemist, city transport driver, etc.);

c) 3rd category- professions associated with physical labor or the use of mechanical means, explosive materials; persons working at a height of more than 5 meters (for example, ballet dancer, archaeologist, ambulance doctor, anesthesiologist-resuscitator, auto mechanic, veterinarian, cutter, fitter, assembler, antenna fitter, etc.);

Nowadays, more and more attention is paid to way of life of the insured, his habits, since with the growth of opportunities for engaging in extreme sports or the availability of buying sports cars, the number of people acquiring certain habits or addictions that increase the likelihood of an accident increases.

Accident and illness insurance means that the insurer covers the risk that the policyholder will be physically injured as a result of an accident, and not natural causes. Under natural causes in relation to this type of insurance is understood sudden acute illnesses (illnesses) that caused death or disability.

An insurance contract can be concluded with insurance coverage in the event of the following events:

a) death as a result of an accident or illness, quite often also called the sudden death of the policyholder (insured person);

b) permanent or partial complete loss of the general working capacity of the insured person as a result of an accident or illness;

c) temporary disability (illness) of the policyholder (insured person) as a result of an accident or illness;

d) disability of the policyholder (insured person) as a result of an accident or illness.

An insurance contract can be concluded in the event of the occurrence of one or more of the events listed above.

Sudden death of the insured person, permanent or partial complete loss of general working capacity, temporary disability (illness), disability of the policyholder (insured person) are recognized as insured events if:

a) the specified events were a direct consequence of an accident or illness that occurred during the validity period of the insurance contract;

b) the specified events occurred within 1 (one) year from the date of the accident (illness), regardless of the validity of the insurance contract at the time of the occurrence of the specified events;

c) the specified events and the accident (illness) are confirmed by documents issued by the competent authorities in the manner prescribed by law (medical institutions, MSEC, registry office, court, etc.).

As a rule, the insurance contract and (or) insurance rules also contain exceptions.

An individual insurance contract is concluded by an individual, and its effect extends to the policyholder, and may also apply to his family members. Under a collective insurance agreement, the policyholder is a legal entity, and the insured are individuals who are employees of the enterprise, in whose life and health the policyholder has an insurable interest. Collective insurance contracts are concluded, as a rule, by employers in favor of their employees or by various unions, societies, associations (associations of hunters, trade unions, etc.) in favor of their members.

Accident insurance is also the most common supplementary insurance coverage in various types of life insurance.

When insuring against accidents and illnesses, insurers use two approaches to building insurance coverage:

a) the first is based on the principles of insurance against all risks, while the types of covered insured events (injury, death as a result of an accident, temporary disability, etc.) are quite clearly named (identified), however, without establishing specific reasons for such consequences, but with the highlighting of the list of exceptions (exemptions);

b) the second follows the principle of insurance based on named hazards, while the policy (insurance rules) provides a detailed list of all events that are recognized or not recognized by the insured and, accordingly, are included in the insurance coverage or excluded from it.

In the event of death as a result of an accident, the insurer shall pay the beneficiary,

specified in the insurance policy, or the heirs of the policyholder (insured person) the established insurance amount. In case of injuries, bodily injuries, other health injuries, the payment of insurance coverage is carried out, the degree of disability is given based on the complete loss or loss (decrease) of the functionality of various organs, as a rule, based on the statistics of the insurance company.

Insurance benefit tables can be either very detailed and cover various aspects and manifestations of the accident. So, the classification of the consequences, and with them the size of insurance payments (as a percentage of the insured amount established under the insurance contract) can be carried out in relation to a part of the body or organ.

Then a deeper classification is carried out on the basis of the isolation of a single injury or other consequences of an accident.

The amount of insurance payments in the event of assignment of a certain disability group is calculated by multiplying the insured amount established in the insurance contract,

by the coefficient according to the disability group. This method is based on data on the percentage of total disability, which is calculated by medical institutions or medical expert commissions (MSEC).

The second method is based on the category of “disability”. For various categories of disability, tables of insurance payments are also used. With multiple indicators of disability, the amount of the payment is established by adding the coefficients indicated in the tables of payments, however, the total amount of the payment cannot exceed 100% of the disability for the body that includes the lost members.

In the event of temporary disability (illness), a form of insurance coverage such as a daily allowance for the period of treatment and rehabilitation may be provided, however, in this case, the insurer seeks to limit not only the amount of the daily allowance (established in proportion to the sum insured), but also for the period, for which the insurer will pay insurance coverage. It is customary to consider the size of the average daily labor income of the policyholder (insured person) as the maximum amount of the benefit.

In addition, such insurance coverage is provided, as a rule, with the application of a temporary deductible, expressed in the number of the first days of disability for which insurance coverage is not paid (the standard is the first seven days).

Insurance coverage may also provide additional coverage for various categories of costs associated with and / or directly arising from the accident, for example:

a) medical expenses necessary to treat the consequences of an accident (expenses for emergency medical care, hospitalization, outpatient treatment, medicines, care, etc.);

b) transportation costs (if it is necessary to transport the insured person to a medical institution, home, etc.);

c) expenses for prosthetics, cosmetic surgery, rehabilitation (sanatorium) treatment;

d) costs associated with the transportation of the body of the policyholder (insured person) to the place where the insured person permanently resided (repatriation of the body);

e) expenses related to the stay with the policyholder (insured person) of a member of his family, etc.

The amount of payment of insurance coverage, as a rule, is established in the form of a percentage limit (limit of liability) of the insured amount established under the insurance contract.

So, if the sum insured for the main insurance coverage is set at 100 units, then the total or individual limits of liability for various categories of expenses (additional coverage) can be set at no more than 15% of the insured amount established for the main insurance coverage.

The general practice of insurance companies that provide insurance against accidents and illnesses, when determining the amount of insurance payments, is predetermined by whether the insurer establishes a single insured amount (as a rule, in the event of death as a result of an accident), on the basis of which the amount of insurance coverage is calculated, or the insurer applies different amounts insured to determine each type of coverage provided under the policy.

Foreign insurance companies offer the two most common insurance coverage options, namely, one that provides for the payment of insurance coverage within the framework of a single insured amount established separately for each risk, and one that involves the provision of insurance coverage within the framework of a single insurance amount established as a whole. under an insurance policy.

Insurance against accidents and illnesses has established itself in Russia as a fairly widespread and demanded insurance, both in the form of individual and collective insurance. Of course, the motivation for concluding such insurance contracts in different periods of development of the insurance market was different (from financial planning, tax optimization to a real desire to provide employees of the company with adequate social and economic protection). The past and forthcoming changes in tax, civil, social legislation suggest that this type of insurance activity will be one of the most popular, inexpensive and dynamic types of insurance.

Movable and immovable property, human health and life are currently subject to insurance against damage. Also, citizens can protect themselves from accidents through insurance. A life insurance contract is most often used when taking out a loan. Thus, banking institutions want to protect themselves from non-payment of debt by the borrower in the event of an insured event, namely, death or disability of the first group. How to terminate an insurance agreement (by analogy with terminating a loan agreement) and in what cases it will be possible, we will consider in more detail.

The timing

According to civil law, a citizen who has drawn up an insurance contract has the opportunity to terminate the above agreement and return part of the unused funds in proportion to the remaining period if:

• the probability of an insured event has disappeared;
• the presence of the insured risk has disappeared according to factors that do not affect the insured event. The above factors are considered - the loss of the insured property or the insurer's bankruptcy.

You can also terminate the insurance contract ahead of schedule, without waiting for its termination. However, if this special opportunity is not provided for in the agreement itself, then it will be impossible to return the funds for the unused period.

Many insurers expressed dissatisfaction with the imposition of an insurance contract when taking out a loan, and in connection with this fact, the Central Bank introduced the concept of a “cooling period” starting in November 2015, when it was legally allowed to terminate the agreement.

Cooling period- this is a five-day period from which the calculation of the conclusion of an insurance contract begins and which is given to an individual (policyholder) to terminate an existing agreement. The procedure is carried out unilaterally and with little or no financial losses, if the insured event did not occur.

The insurer carries out partial refund to the policyholder who decided to terminate the agreement early if the insurance contract is valid for several months. The calculation of payments is made dependent on the time that has passed since the conclusion of the document.

Remember! After the “cooling off period”, terminate the insurance contract the opportunity will be presented only if the above document has the appropriate criterion.

How do I terminate my life insurance contract?

Obtaining a life insurance policy is most often an additional service when taking out a loan at a banking institution and is considered a voluntary procedure. You can terminate the contract with the insurance company by following the step-by-step algorithm of actions:

• collection and preparation of the necessary documentation;
• contacting an insurance company with a written application;
• consideration of the application within a ten-day period by the insurance company;
• final termination of the insurance contract and calculation of benefits.

The transfer of funds is made within a period not exceeding a ten-day period. The following list of documents should be attached to the application:

• identity document of the applicant-insured - in original and a photocopy;
• duplicate and original life insurance contract;
• papers confirming the legality of the reasons for canceling the agreement.

It is possible to terminate the existing agreement between the policyholder and the insurer during the "cooling period" or in another period, if this condition is spelled out in the agreement.

On a loan

When taking out a loan, employees of a banking institution often impose an additional obligation to conclude a life insurance contract. In case of early termination of a life insurance contract on a loan it is imperative to notify the credit institution.

To terminate the agreement unilaterally, the type of signing of the document should be taken into account. Employees in a banking institution offer their clients the following methods of obtaining an insurance policy:

• registration of an individual insurance policy;
• joining a collective insurance program.

In the latter case, there is a signed agreement between the bank and the insurance company. The borrower is included in this document and is considered insured from that moment on. The payment for insurance is the payment of the corresponding commission to the credit institution for the operation of joining the above program. In this case, it is not possible to terminate the agreement during the "cooling period".

The main condition for the ability to terminate the agreement is the presence of such a condition in the concluded agreement. The amount of the refunded funds may not be 100 percent, since the banking institution has the right to collect personal income tax from individuals.

In case of voluntary registration of insurance

According to the generally accepted rules, you can terminate the agreement with the insurance company within a five-day period, which is called the "cooling period". Refunds are made in full if the insured event did not occur within a given period of time.

After 5 days, the policyholder should refer to the content of the existing insurance contract. If the return of finance in case of early termination is a prescribed item, then you can return the money, but not in full. To terminate the agreement, you must apply with a written application to the insurance company.

The transfer of funds is carried out in proportion to the unused time with the deduction of the costs of doing business. The above costs can range from 25 to 90%. There are sometimes definitions in the insurance rules that predetermine the deduction from the amount due after cancellation, equal to the amount of payments made.

How a statement is drawn up in order to terminate an insurance contract, we will consider further.

Statement

You can terminate the agreement with the insurance company by drawing up an application. The signed document is submitted with a personal appeal to the company or sent by registered mail. A written request is made in duplicate - one remains with the applicant, the other with the insurance company.

The standard sample application must contain the following information:

• fixing without abbreviations the name of the insurance organization;
• information about the insured - full name, place of registration, passport details;
• indication of information about the life insurance contract - the number of the insurance policy, the date of signing and the date of completion of the document;
• a description of the reason why the policyholder wishes to terminate the agreement;
• expression of a request to terminate the agreement and return funds for the unused period;
• fixing the method of making financial payments - in cash or non-cash, by transferring to a bank account;
• date and signature.

You can download a sample application for termination of a life insurance contract link .

Refund

If the policyholder wants to refuse the life insurance service and terminate the contract, then he can use the so-called A "cooling period" within five days from the moment of service registration. The legislation of the insurance organization is charged with the obligation to comply with the above regulations.

Remember!According to the order of the Central Bank, from January 1, 2018, the five-day period will be extended by two weeks.

If the decision to terminate the life insurance contract was made at the very beginning of its validity, then the refund is carried out in full. The main condition is not the occurrence of an insured event during this period.

After the specified 5 days, the money is returned in proportion to the unrealized insurance time. Consider the following situation:

An individual has signed a life insurance contract, valid for 20 years. After a five-year period, the citizen decides to terminate the agreement. 70% of paid contributions are refundable.

The transfer is carried out within a maximum of 10 days after the consideration of the application and the adoption of a positive decision.

What if the insurance company refuses to terminate the contract?

Terminating an insurance contract is not easy. The insurance organization may refuse in the following cases:

• the application for termination of the agreement was drawn up with errors;
• the corresponding condition is not recorded in the document;
• an insured event has occurred.

In some cases, the refusal of the insurance company to terminate the agreement has no legal basis. In this case, you can apply to the Central Bank of Russia with a corresponding claim or solve the problem in court.

The statement of claim is sent to the arbitration court with a formulated request to terminate the life insurance contract. In the case of taking out a loan, after a month has passed, you can achieve a 100% refund. If more time has passed, then you can only achieve a return of 50%. Within a month after accepting the application for consideration, the court makes a positive decision to terminate the insurance contract and obliges the insurance organization to pay.

You can download a sample statement of claim for termination of a life insurance contract.

The essence of the life insurance contract

A life insurance contract is a bilateral transaction, where one of the parties is a citizen (referred to as policyholders), and the other is an insurance company that has the right to enter into such transactions. A life insurance contract must be concluded in a simple written form, moreover, regardless of the amount of the insurance amount, its notarization is not required.

Under a personal insurance contract, one party (called the insurer) assumes obligations for the fee (insurance premium) paid by the other party (the insured), paid by the other party (the insured), or pay the periodically agreed amount (insurance amount) in the event that harm is caused health or life of the policyholder himself or another citizen (insured person) named in the contract, achievement of the specified age mark or the occurrence in his life situation of another event provided for by the insurance contract (insured event).

Remark 1

The right to acquire the sum insured belongs to the person in whose favor the insurance contract is concluded.

General about insurance exclusions

Under insurance contracts, they are not recognized as insured events, and events are not covered, the indirect or direct cause of which is considered:

• war. The term "war" in insurance contracts means the following: military operations; war or world war (both undeclared and declared); actions of enemies from the outside; invasion; military actions, maneuvers and other military activities; riot; military mutiny; coup d'etat; putsch; mass (public) riots; insurrection; Civil War; conspiracy; the revolution; military usurpation of power; capture; a state of emergency, martial law or a period of siege; other events that are grounds for declaring war;
• military service;
• an attempt to commit or the commission of a deliberate crime by the insured person;
• any deliberate action of the insured person, policyholder, beneficiary, which entailed the occurrence of an insured event.

Remark 2

In the event that the insured person commits suicide, regardless of his mental state, during the first two years of the insurance contract, the insurer undertakes to return the premiums paid under the insurance contract, deducting all debts to the insurer for the payment of insurance premiums.

Life insurance exceptions

The circumstances are not recognized as an accident, and also do not give rise to the insurer's obligations for insurance payment, although they correspond to the rules of the life insurance contract, but which occurred due to:

• intent of the beneficiary (third party of the victim) or the insured himself. But the Insurer is not exempted from paying insurance indemnity for causing harm to health or life, if the harm was caused through the fault of the person responsible for it;
• nuclear explosion, radioactive contamination, radiation;
• actions of a military nature, as well as maneuvers or other measures of a military nature, actions of terrorists or armed formations;
• popular unrest of all kinds, civil war or strikes;
• actions of force majeure: disasters of a natural nature, natural phenomena of a spontaneous orientation;
• unlawful actions of other persons, when a dangerous production facility is removed from the influence of the policyholder as a result of such actions, except for cases when the disposal of the object from possession occurs through the fault of the policyholder;
• other circumstances that are not directly related to the operation of a hazardous production facility.

Moreover, under the acts committed through the fault of the policyholder, the acts of the representatives of the policyholder will be recognized if such representatives knew or should have known about the negative consequences of their own action (inaction), in accordance with the current regulatory and other acts, the practices of operating a hazardous industrial facility. The presence of a representative office is determined by the norms of the Civil Code of the Russian Federation.

Non-refundable:

• moral injury;
• harm caused to persons who are in a labor relationship with the insured during the period of their labor obligations in accordance with the agreement (agreement, contract), in accordance with the labor legislation of the Russian Federation;
• harm that is caused to the property base, which the insured possesses on the basis of property rights, economic management rights or the right of operational management, or on another basis established by law (on a lease basis, under storage agreements, by proxy, by virtue of orders of the relevant authorities to transfer to him property base, etc.);
• losses of the insured, which are caused by the payment of a forfeit (penalty, fine), the fulfillment of warranty and similar obligations, non-fulfillment or improper fulfillment of the obligations established by the contract;
• losses that are lost profits, in accordance with paragraph 2 of Article 15 of the Civil Code of the Russian Federation.

The life insurance contract traditionally comes into force from the moment the lump sum insurance premium or its deferred first insurance premium is received on the insurer's cash account. The moment of crediting (receipt) of funds to the insurer's account is determined by the period of their crediting to the account in accordance with the rules for conducting banking and financial transactions established by law.

Life insurance is quite common in many civilized countries. Many citizens apply to this service voluntarily, regularly pay contributions, insure themselves, children, property, etc.

This is not accepted in Russia, the residents of our country are distrustful of the provision of such a service by insurance companies. With us, voluntary insurance is considered the lot of the rich. Of their own free will, Russians rarely insure themselves. Basically, it is a mandatory clause in any contract: for employment (the organization provides the employee), credit, in case of hazardous production, when registering a car, etc.

It will be very successful if nothing happens to a person in his entire life, there are no accidents, he will calmly live his old age in the circle of relatives and accumulate a decent amount of money to leave to his loved ones. But we all know perfectly well that life is unpredictable. It so happens that, having a family, a job, a home loan, a person gets into an accident, gets serious injuries and loses his ability to work, albeit for a while. In the absence of spare capital, the situation will be disastrous. But if certain risks were foreseen, the insured person will be paid a compensation amount that can be used for treatment, rehabilitation or funeral.

When this document is drawn up

The domestic financial market provides insurance services to the population. Life insurance provides for the design policy and contract. Most insurance firms consider insured event not only the death of an individual, but also an accident and illness of the client.

The policyholder is obliged to pay certain amounts as monthly installments... These contributions can be regular, or you can agree on a one-time contribution. Upon the occurrence of an insured event, the company undertakes to pay savings with possible interest at one time, or it can be agreed to pay money regularly, after a certain period of time before or after a certain moment, or for life.

To understand the essence and procedure for drawing up an insurance contract, you first need to understand basic terms and actors:

Russian legislation regulates the procedure for the formation of contracts of this type.

The document drawn up for life insurance of an individual must comply with the following requirements:

• an indication of all the details of the parties to the transaction and the terms of this agreement;
• listing of all insurance risks for which cash payments are provided;
• decoding of force majeure;
• determination of the sum insured, which the company undertakes to reimburse in the event of an insured event;
• signatures of the parties to the transaction.

The signed agreement is accompanied by the issuance of a special policy, which serves as confirmation of the transaction. After the procedure, the policyholder is obliged to pay insurance premiums, the amount and date of receipt of which is spelled out in this contract.

There are several precedents when life insurance may be required natural person:

• lending (in particular) - banks themselves conclude an agreement with an insurance company, entering the borrower's details there;
• hazardous production - the employer insures his employee and undertakes to pay his family the full cost of the contract upon the occurrence of an insured event;
• car insurance - the state obliges the owner to conclude a life insurance contract upon registration; insured events, as a rule, are related to car accidents;
• traveling abroad - traveling outside your country involves temporary life insurance of a citizen for the duration of his stay in another country.

Varieties

This service can be classified in different ways, depending on many factors. Each form provides for its own characteristics of a certain kind.

So, according to the main criteria, the following are distinguished types of life insurance contracts:

These criteria determine the specifics of life insurance contracts, and the main three basic types differ by the period of conclusion of the contract:

1. Lifetime - insurance is paid at once or in equal installments to the beneficiary upon the death of the insured person.
2. Urgent - periodic payments in favor of the beneficiary upon the occurrence of an insured event before the period specified in the contract.
3. Mixed - the insurance can be reimbursed in the event of the death of the insured during the term of the contract and if he remains alive after the expiration date.

In addition to these types, there are also contracts voluntary and compulsory life insurance... The first type provides for the desire of the insured, on his own initiative, to foresee certain risks and to protect himself and his loved ones from financial problems in the event of his own death. As for another type of insurance, here an individual is obliged to conclude such an agreement (the creditor bank, the state when issuing an OSAGO, CASCO policy, etc., the employer when accepting a citizen for hazardous work, etc.).

It also exists on the financial market in the Russian Federation. It means the conclusion of an agreement on accumulative insurance, that is, from the moment of the conclusion of the transaction with the insurance company, the policyholder periodically (monthly, quarterly, annually, etc.) pays insurance premiums. Their amount is fixed in a specific clause of the contract, and upon completion of its validity, the insurer's income from financial transactions in favor of the beneficiary will be added to the savings. Thus, this is a fairly profitable passive income (up to 12% per annum), and partial withdrawals from the account are allowed before the expiration of the contract.

It turns out that the most important points in any life insurance contract are the object (the one who is insured), the subject (the one who gets the insurance amount) and the term (the period of validity of this contract). The rest of the factors can be considered additional, but they significantly affect the cost of the services provided and the total amount of payment in the event of the death of the insurance object.

Termination procedure

The Civil Code of the Russian Federation, or rather Article 958, allows insured citizens to terminate the contract with the insurer.

Here financial losses are inevitable, but they can be reduced by taking into account some important nuances.

The contract is terminated for three reasons:

According to the federal legislation of the Russian Federation, termination life insurance contract ahead of schedule is possible in the event of:

• an incident that does not fall under the concept of insurance risk;
• changes in circumstances in the life of nat. persons (dismissal from hazardous work, termination of travel abroad, sale of a vehicle, etc.).

If the contract was terminated at the initiative of the policyholder, the redemption amount will not be refunded to him.

Often, life insurance is imposed on the client by the state or the creditor bank, and after some time, the person realizes the inexpediency of this decision. Unfortunately, nowhere in the legislation is there a prescription that determines a fixed amount of payments, it is determined by the insurer and is prescribed in the contract.

When contacting the company, the client must have with you passport and draw up an application for termination of the life insurance contract. It should contain the name of the organization providing insurance services, the full name of the insured person, an indication of the previously signed contract, the request itself and the details (date, signature). The petition may express a desire to terminate the transaction or pay insurance premiums.

Termination of the insurance contract when applying for a loan at a bank suggests the following nuances:

1. The mortgage provides for compulsory insurance of the borrower in the first year of the loan agreement, and then this service is paid voluntarily.
2. When you refuse to insure your own life when paying a mortgage loan, usually 1% is added to the cost of the product.
3. Early repayment of any loan means the end of the insurance contract with compensation for the remaining period.
4. The insurance premium is paid over a three week period.

Termination of an agreement OSAGO occurs in the presence of one of the three specified cases:

1. A vehicle bought on credit has been sold to someone. The borrower draws up an application, attaches his passport data, a copy of the policy and a paid receipt to it.
2. The car cannot be restored after an accident. To the specified list of documents, you must attach a certificate from the traffic police to confirm the fact of the accident and a paper from the service station about the impossibility of restoring the car.
3. Bankruptcy of an insurance company.

Procedure for calculating the surrender amount

The redemption amount is the money intended to be paid by the company to the policyholder upon termination of the life insurance contract.

It consists of the reserve paid by the policyholder as regular insurance premiums and the accumulated investment funds. The insurer deducts a share of the premiums, which he is ready to return as the redemption amount, and he is obliged to pay the investment in full. However, due to the fact that some of the savings are in circulation, the applicant will have to wait.

Since one of the parties decided to interrupt mutual obligations on its own initiative, it is she who will incur some losses. That is, the entire accumulated premium reserve is subject to payment minus the penalty for early termination of the life insurance contract. The redemption value is formed after two years of the contract, and it increases every year. When the insurance period expires, the redemption amount will be equal to the value of the entire insurance.

As a rule, the contract contains a guaranteed amount of payment in this case, but the insurer will still have to recalculate the redemption value of the insurance at the time of the client's request. The amount paid will fluctuate depending on the current market conditions and interest rates. Various bonuses, if any, are also taken into account.

Obtaining a tax deduction

Tax legislation provides for payment to citizens for life insurance expenses. The sum of all taxes paid for the year can be refunded, and this scheme can be carried out for three years in a row, if the total amount of the tax deduction for insurance exceeds the annual payments to the budget.

Taking advantage of the possibility of a tax deduction for life insurance, you can receive a tax relief or receive a lump sum payment that compensates for part of the funds. This procedure is only possible with long-term provision of the service.

Deduction compensate if life is insured:

Mandatory conditions:

1. The duration of the contract is at least 5 years.
2. The insured must be a citizen of the Russian Federation.
3. Regular receipts only from your own wallet.
4. Formal employment and regular pay.

Taxpayers have the right to count on monetary compensation for the cost of a life insurance contract when registering a mortgage.

Deduction amount for each reporting period should not be higher than 120,000 rubles, the balance of the payment is carried over to the next year.

In recent years, the number of concluded life insurance contracts, including voluntary ones, has significantly increased in the country. Citizens understand that this is a rather profitable way of investing money, which also provides social guarantees to the insured person and his relatives in case of any emergency.

The rules for terminating life insurance contracts are described in the following video: