Life Insurance In Cyprus
10 Reasons to insure Your Life
We all try hard to materialise our dreams, accomplish our aims, create a safe environment for those we love and achieve a high standard of living.
This article is available in Russian at the following link: Интересные факты о страховании жизни и здоровья Director of Pitsas Insurances, Antonis Theofanus December 14, 2021 Limassol, Cyprus
Our loved ones are always a priority in our life. If you are worried about what would happen to those surviving you in case of death, getting Life Insurance should be a priority to ensure the ones you leave behind are at least financially secure. 1.What is life insurance? A life insurance policy is a contract between the policyholder and the insurer, wherein the latter promises to provide your beneficiaries with a sum of money upon your death, or pay off an existing mortgage.
In our work we are often faced with questions from the clients about the exclusions present in their life and health insurance policies. As sane people they are absolutely sure that every rule has at least one exclusion, and no protection in the world (including insurance) can be absolute. Our clients want to know exactly what will happen to their insurance coverage in a given situation, and our duty is to provide them with complete and comprehensive information on this issue.
Life insurance is a personal insurance that allows to receive a material compensation in case of unforeseen events such as accidents, illness or death of an insured person. All expenses will be compensated by the insurance company, so in some cases life insurance can be considered as a good way to increase an income. Life insurance consists of 2 groups: classic life insurance and endowment or mixed life insurance. 1) Classic life insurance (also known as "classic risk insurance") refers to simple insurance policies against an accident (death or disability) or any other specific event determined by an insurance contract.