OSIGURANjE ŽIVOTA

2021 ◽  
pp. 19-39
Author(s):  
Zoran Miladinović ◽  
Keyword(s):  
Life Insurance ◽  
Insurance Premium ◽  
The Other ◽  
Insurance Companies ◽  
Eu Countries ◽  
Insured Person ◽  
Traditional Function ◽  
The Law ◽  
The Republic ◽  
Developed World

Life insurance is the field of insurance which covers all those types of insurance where the occurrence of the insured accident is connected to a certain event in the life of the insured person. There are two basic types of life insurance: life insurance in case of death of the insured person and annuity insurance in case the insured person lives longer, t.i beyond the insured life term. Life insurance is the insurance where the insurer for a certain insurance premium assumes the obligation to pay to the insured person or the other beneficiary designated by the insured person a certain sum of money in case of his death or annuity installments in case he lives longer then the agreed life term. Although originally, life insurance was forbidden and was considered to be an unethical legal activity, today life insurance is accepted in legislations and in practice worldwide and it has been proven as a very beneficial and justified institute. This type of service is offered by insurance companies with an investment aspect which allows life insurance to keep its traditional function (protection from various risks – death, disability, life longer than the agreed insurance term), but also to have a wider, macroeconomic function in the form of savings and investment. This service has not been widely accepted in the Republic of Serbia although it is regulated by both the Law on insurance and the Law of contract and torts. In the 1990s it almost ceased to exist, while nowadays it started to revive, but with far less cases than in EU countries and other countries of developed world.

scholarly journals Operational Efficiency of Selected General Insurance Companies in India

2019 ◽  
Vol 9 (2) ◽  
pp. 4899-4902
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Insurance Premium ◽  
The Other ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Policies ◽  
General Insurance ◽  
To Come

Life is full of risks and uncertainties. In fact risk is everywhere. Even when you ride a bike to the nearest shop in the street, there is a risk. One must protect himself or herself from this risk. The solution is insurance. Broadly it is two types i.e. life insurance and non-life insurance (general insurance). In this paper we discuss about only general insurance. General insurance helps in securing ourselves and things we value like homes, cars, bikes or any other property from any kind of mishap whether it is big or small. General insurance protect insured property from fire accidents, floods, earthquakes, storms, thefts, travel accidents/mishaps or any other kind of calamity, even from the cost incurred against us from legal action depending upon the type of policy selected by the insurer. From the post liberalization scenario, general insurance in India is growing rapidly. The reasons behind its spectacular growth are allowing private companies to enter into Indian market, low insurance premium, TPAs (Third Party Administrators), Fast and immediate settlement of insurance claims, Innovative general insurance policies, discounts in insurance products, increasing awareness among people, more distribution channels etc. The other side of the coin is, public sector insurance companies are facing cut throat completion from private insurance companies as they offer wide variety of policies at a low premium. Due to this few general insurance companies are closed and few are forced to come out with same polices and services. Ultimately the performance of public sector general insurance companies also enhanced with the competitive moves by private players. On the other hand, customers are also exposed to new trends in the insurance market. Insurance Regulatory and Development Authority (IRDA) is the apex body in India to monitor the activities of insurance companies. It has laid down standard terms and conditions to general insurance companies and also given scope for personal accidental life insurance policies. IRDA has taken all the measures to improve the performance of general insurance companies as it is one of the fast growing areas in Indian economy.

scholarly journals Growth and Performance of General Insurance Companies in India – Premium Rate and Claim Settlement Perspective

2020 ◽  
Vol 8 (5) ◽  
pp. 2071-2073
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Insurance Premium ◽  
The Other ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Policies ◽  
General Insurance ◽  
And Performance

Life is full of risks and uncertainties. In fact risk is everywhere. Even when you ride a bike to the nearest shop in the street, there is a risk. One must protect himself or herself from this risk. The solution is insurance. Broadly it is two types i.e. life insurance and non-life insurance (general insurance). In this paper we discuss about only general insurance. General insurance helps in securing ourselves and things we value like homes, cars, bikes or any other property from any kind of mishap whether it is big or small. General insurance protect insured property from fire accidents, floods, earthquakes, storms, thefts, travel accidents/mishaps or any other kind of calamity, even from the cost incurred against us from legal action depending upon the type of policy selected by the insurer. From the post liberalization scenario, general insurance in India is growing rapidly. The reasons behind its spectacular growth are allowing private companies to enter into Indian market, low insurance premium, TPAs (Third Party Administrators), Fast and immediate settlement of insurance claims, Innovative general insurance policies, discounts in insurance products, increasing awareness among people, more distribution channels etc. The other side of the coin is, public sector insurance companies are facing cut throat completion from private insurance companies as they offer wide variety of policies at a low premium. Due to this few general insurance companies are closed and few are forced to come out with same polices and services. Ultimately the performance of public sector general insurance companies also enhanced with the competitive moves by private players. On the other hand, customers are also exposed to new trends in the insurance market. Insurance Regulatory and Development Authority (IRDA) is the apex body in India to monitor the activities of insurance companies. It has laid down standard terms and conditions to general insurance companies and also given scope for personal accidental life insurance policies. IRDA has taken all the measures to improve the performance of general insurance companies as it is one of the fast growing areas in Indian economy.

scholarly journals The Dynamics of General Insurance Sector in India - Growth and Performance Perspective

2019 ◽  
Vol 9 (2) ◽  
pp. 536-540
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Insurance Premium ◽  
The Other ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Sector ◽  
Insurance Policies ◽  
General Insurance

Life is full of risks and uncertainties. In fact risk is everywhere. Even when you ride a bike to the nearest shop in the street, there is a risk. One must protect himself or herself from this risk. The solution is insurance. Broadly it is two types i.e. life insurance and non-life insurance (general insurance). In this paper we discuss about only general insurance. General insurance helps in securing ourselves and things we value like homes, cars, bikes or any other property from any kind of mishap whether it is big or small. General insurance protect insured property from fire accidents, floods, earthquakes, storms, thefts, travel accidents/mishaps or any other kind of calamity, even from the cost incurred against us from legal action depending upon the type of policy selected by the insurer. From the post liberalization scenario, general insurance in India is growing rapidly. The reasons behind its spectacular growth are allowing private companies to enter into Indian market, low insurance premium, TPAs (Third Party Administrators), Fast and immediate settlement of insurance claims, Innovative general insurance policies, discounts in insurance products, increasing awareness among people, more distribution channels etc. The other side of the coin is, public sector insurance companies are facing cut throat completion from private insurance companies as they offer wide variety of policies at a low premium. Due to this few general insurance companies are closed and few are forced to come out with same polices and services. Ultimately the performance of public sector general insurance companies also enhanced with the competitive moves by private players. On the other hand, customers are also exposed to new trends in the insurance market. Insurance Regulatory and Development Authority (IRDA) is the apex body in India to monitor the activities of insurance companies. It has laid down standard terms and conditions to general insurance companies and also given scope for personal accidental life insurance policies. IRDA has taken all the measures to improve the performance of general insurance companies as it is one of the fast growing areas in Indian economy. General insurance companies under public sector are facing lot of challenges from private players and to with stand in the completion, even they have improved a lot in their quality of service in multiple facets like decreasing the premium, quick settlement in claims etc. In a nut shell, general insurance business is contributing significantly to Gross Domestic Product (GDP).

OSIGURANjE ŽIVOTA U KORIST TREĆIH LICA

2021 ◽  
pp. 535-551
Author(s):  
Zoran Miladinović ◽  
Keyword(s):  
Life Insurance ◽  
Legal Status ◽  
Insurance Contract ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Law ◽  
Legal Provisions ◽  
Insured Person ◽  
Insured Event

Insurance of life in favor of third parties is more important than the insurance of life in case of death. Moreover, in some rights this type of insurance can be contracted only in the event of the death of the insured person. There are no such restrictions in our insurance law, which means that the same can be agreed in case the isured person reaches a certain age. With this type of insurance, the insured event can be realized on the person of the insurance policyholders or on some other person. The insured person can therefore be the insurance contractor himself and it can also be another person. Considering that in this type of insurance, upon the occurrence of the insured event, the payment of the insured amount is always made to a certain third party beneficiary and that the insurance contract mentions several persons with different legal status, the insurance contract must clearly define the issues such as clear determination of the beneficiary insurance, what happens if the insurance beneficiary dies before the insured person, or the contractor assures, whether it is necessary for the insurance beneficiary to give his consent to be paid compensation, whether and until when the insurance policyholder can revoke the benefit he has contracted for a third party-beneficiary of the insured, etc. All these issues are mainly regulated by legal provisions, but of particular importance are General Conditions of life insurance of life insurance companies, as the above issues are clearly defined on the basis of experiences that have proven to be open in practice.

scholarly journals On Legislation as to Life Insurance and Life Insurance Companies

1871 ◽  
Vol 16 (2) ◽  
pp. 77-98 ◽  
Author(s):  
T. B. Sprague
Keyword(s):  
United States ◽  
United Kingdom ◽  
Life Insurance ◽  
United States Of America ◽  
The United States ◽  
Insurance Companies ◽  
The Past ◽  
Life Assurance ◽  
The United Kingdom ◽  
The Law

The past session of Parliament has witnessed the passing of an Act for the regulation of Life Assurance Companies in the United Kingdom, which, while introducing great changes in the law, still stops very far short of the system of legislation which has been for several years in operation in a few of the United States of America, and which is warmly approved of and urgently recommended for adoption by some persons in this country. The present may therefore be considered a fitting time for reviewing what has been done and considering whether any further legislation is desirable, and if any, of what nature it should be.

On the Principal Provisions of the Law of Bankruptcy in England, with References to Some Decisions of Interest to Life Insurance Companies

1912 ◽  
Vol 46 (3) ◽  
pp. 205-260
Author(s):  
N. J. Carter
Keyword(s):  
Life Insurance ◽  
Insurance Companies ◽  
General Account ◽  
General Arrangement ◽  
The Subject ◽  
The Law

It is with considerable diffidence that I submit this paper to the Institute seeing that there are many members who are far better qualified to deal with the subject.However, it was suggested that a paper of this character would be acceptable, and I have endeavoured to make it as complete as possible without transgressing reasonable limits of space.In the first place I have given a general account of the law of bankruptcy, following, in the main, the general arrangement of the subject adopted by Ringwood in “The Principles of Bankruptcy”, and I hope sufficiently full to make the paper useful to Students for Part IV of the examination syllabus. This has inevitably made it somewhat long and formal.

scholarly journals Legal Consequences of Late Payments in Payment of the Insurance Premium // Pravne posljedice docnje u plaćanju premije osiguranja

2018 ◽  
Vol 8 (8) ◽  
pp. 102
Author(s):  
Slobodan Stanišić
Keyword(s):  
Life Insurance ◽  
Insurance Coverage ◽  
Insurance Premium ◽  
Insurance Contract ◽  
Insured Person ◽  
Legal Consequences

The paper discusses the legal consequences that may occur when the insured person late or do not fulfill the obligation to pay premiums. Failure to pay premiums on time and in the manner as provided by the insurance contract or by law, affect the beginning of life insurance coverage, and thus the existence of insurers liability to indemnify or pay the insured sum at the occurrence of an event that is insured case.

Part III Transfers in Particular Contexts, 17 Transfer of Insurance Contracts

2018 ◽  
Author(s):  
Smith Marcus ◽  
Leslie Nico
Keyword(s):  
Life Insurance ◽  
The Other ◽  
Marine Insurance ◽  
Insurance Contracts ◽  
Two Factors ◽  
The Law

This chapter studies insurance contracts. A contract of insurance is one whereby one party (the insurer) promises in return for a money consideration (the premium) to pay to the other party (the assured) a sum of money or provide him with some corresponding benefit, upon the occurrence of one or more specified events. Their assignability is complicated by two factors. First, there are a number of different rules whereby an assignment can be effected, in addition to the equitable and statutory (section 136 of the Law of Property Act 1925) methods. Second, when considering the assignment of insurance contacts, it is important to be clear about what it is that is being assigned. The chapter then considers the transferability of the assured's right under four types of insurance: indemnity insurance; life insurance; marine insurance; and reinsurance.

NATURE OF LIFE INSURANCE AND THE BENEFITS PAID IN LATVIA

2019 ◽  
pp. 82
Author(s):  
Violeta Smule
Keyword(s):  
Life Insurance ◽  
Family Members ◽  
Insurance Market ◽  
Insurance Companies ◽  
Financial Problems ◽  
Insurance Benefits ◽  
The Family ◽  
The Future ◽  
Insured Person

Life insurance persistently evolves in Latvia. Competition in the insurance market is tough; consequently, the insurance companies apply diverse marketing techniques to retain their current clients and attract new ones. The research aim is to examine the nature of life insurance and the amounts of insurance benefits paid in Latvia. Life insurance is a kind of insurance that covers the death of the insured person. Life insurance is necessary for persons providing family incomes, as it protects the family members against financial problems in case of loss of the family provider. In Latvia, life insurance with savings is the most widespread, as this kind of life insurance combines two elements – the insurance of one’s own life and savings for the future.

scholarly journals The Impact Of Culture On The Purchase Of Life Insurance In Latin America And The Caribbean

2011 ◽  
Vol 5 (1) ◽  
Author(s):  
James R. Eck ◽  
Dmitri Nizovtsev
Keyword(s):  
Latin America ◽  
Life Insurance ◽  
The Other ◽  
Model Specification ◽  
Insurance Companies ◽  
Financial Instruments ◽  
Cultural Variables ◽  
The World ◽  
The Caribbean ◽  
The Impact

This study attempts to determine the major reasons for the lack of success in marketing life insurance in Latin America and the Caribbean. Our results point at the importance of cultural variables of which the most significant is the percentage of the population that professes to be Catholic. We attribute this to a strong correlation between religious beliefs and risk preferences. The other major factor is the populations attitude toward financial instruments in general. Both results are robust to the model specification. The findings should be of interest to insurance companies attempting to market life insurance throughout the world.

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