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Life Insurance in Republic of Macedonia ? Luxury or Necessity

Journal: TEM JOURNAL - Technology, Education, Management, Informatics (Vol.3, No. 2)

Publication Date:

Authors : ; ; ; ; ;

Page : 134-139

Keywords : Insurance companies; life insurance policies; assets; risks; individuals.;

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Abstract

Individual’s life is uncertain and limited, such as are his working life and working ability, therefore life insurance represents a manner of managing with risks which may be expressed through the lack of means for subsistence in a certain period of life or protection of the individual or the members of his family in financial terms. By having a life insurance policy one invests in his own security, protects his loved ones, while saving and planning their own future. Life insurance policy is a long-term solution that combines the safest savings and reliability. There is a tradition of having a life insurance policy in the developed countries, while in the Republic of Macedonia the number of individuals with life insurance is still very small. In this paper we will do a research on the perception of the population in the country regarding the benefits of owning a life insurance policy, limiting factors and measures to increase the contracts on life insurance.

Last modified: 2014-07-03 01:42:01