Life Insurance with Capital Accumulation

Health - Travel - Accidents - Life - Life with Capital Accumulation Foreigners Insurance Programme - Students Abroad

Life insurance a=with capital accumulation is a combination of Life Insurance and saving, providing foundation for personal financial independence un security. It allows accumulation of capital whila also providing protection to the family in case of death of family’s breadwinner. If the Insurance policy has a term of 5 years and more you may qualify for tax benefits, making this type of insurance even more attractive. Tis Insurance policy can be purchased by the insured himfelf or herself as well as by an employer on behalf of employees.

More detaild description of Life Insurance with Capital Accumulation is provided below the application form.

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Life Insurance with Capita Accumulation is your contract with an insurance company for a long period of time – 5 to 30 years. The insured undertakes to make regular premium installments, but the insurance company provides insurance protection for the whole policy period. Insurance policy provides compensation in case of death or complete or partial loss of ability to work, in case of need for serious medical intervention, hospitalization, broken bones, etc.

Typically up to 10% of the insurance premium goes towards Life Insurance protection with the remainder (90% or so) goes towards building up savings.

After the ens of the policy term you may:

• Receive the accumulated capital in full in cash;

• Acquire limited-term pension (annuity) insurance policy;

• Acquire life pension (annuity) insurance policy.

Differences between Life Insurance with Capital Accumulation and Accident (LICA) Insurance

• Term of the Acciden Insurance policy tipically does not exceed 1 year while that of LICA Insurance can be 10 years or more;

• Accident insurance provide protection against specific risks, while LICA Insurance also allows to accumulate savings;

• Accident Insurance does not allow to get annuity payments after the end of the policy period while in case of LICA Insurence the insured may choose to receive regular pension (annuity) payments afyter the end of the insurance period.

LICAInsurance may become a substantial part of your personal finances. When acquiring this insurance you take away some critical financial risks from yourself and your family allowing the insurer to provide the protection.



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