The importance and characteristics of life insurance

Abstract

Life insurance should be one of the most important insurances, because the life of a human being is one of the most expensive things. However, unlike in the developed countries, in many other countries like Macedonia, this type of insurance is not really propagated.

In many cases, from the life of a single human being depend the lives of other human beings. The head of a family should be considered as an example. With his/her death the welfare of the other members of the family is endangered, who after his/her death can face financial and material difficulties. As a result to this risk life insurance needs to be more propagated in the insurance market.

Keywords: insurance, life insurance, savings