Forms and types of insurance are divided into twogroup. There is compulsory and voluntary insurance. The initiator of the first is the state. It obliges legal and physical persons to pay a certain amount of money and thereby ensure the maintenance of public interests. Voluntary insurance is provided by economic entities, individuals and legal entities on their own initiative.
Mandatory forms and types of insurance enter intoforce when the state believes that in this situation the interests of not only individual citizens but also of the whole society are taken into account and insurance protection can become a guarantee of well-being. There is a list of such facilities that are subject to compulsory insurance, certified by the relevant legislative act. The law also determines the amount of insurance liability, the level of insurance coverage, the rights and obligations of the parties that have concluded the contract, tariffs and prices for insurance services and other important issues.
Those types of compulsory insurance, whichare defined by state laws, place great responsibility on the insured, who in some cases may become a party to the performance of the insurance obligation. Failure to comply with these obligations leads to the involvement of the policyholder in the face of the insured and the state. These provisions are detailed in the Civil Code of the Russian Federation. The insurer has no right to compel the insured to enter compulsory insurance on terms that are put forward by himself.
There are the following types of compulsoryinsurance: insurance of property of citizens that is relevant to the interests of others, insurance of passengers against accidents in all modes of transport, including air, road, rail, sea, etc. This includes mandatory medical insurance, insurance of military personnel and civil liability, as well as the professional responsibility of certain categories of specialists.
Among the contracts concluded more often than others,forms and types of insurance related to the protection of citizens' lives are singled out. Types of life insurance can be temporary, lifelong and mixed. Temporary insurance is the most affordable and inexpensive way to get compensation in the event that an insurance event, that is, death, comes before the end of the period determined by the policy. In the opposite case, the client does not receive anything, and his contribution remains in the insurer's asset.
Lifelong and mixed species are more profitablelife insurance. The first way guarantees accumulation of the premium, payment of insurance compensation to the beneficiary, if suddenly the death of the insured occurs. In addition, the citizen himself may at his own discretion terminate the contract and withdraw the cost of the policy in cash.
A cumulative forms and types of life insuranceare mixed insurance policies. This is a broad-spectrum program and citizens who have reached adulthood and up to the age of 65 can take part in it at will. Anyone who participates in such life insurance is the possessor of the opportunity to accumulate additional funds for a decent old age and provide some help to his relatives, for example, children. In the same way as in the previous case, the onset of death is the reason for obtaining the amount prescribed by the terms of the contract by family members, who become beneficiaries in this situation. This type of life insurance, less expensive compared to life insurance, has long been active in developed countries and is gaining popularity in our state.
