LIFE INSURANCES

In life insurances, this period is usually one year during the insurance period and the amount of compensation determined in case the insured dies is paid to statutory heirs or to persons designated as beneficiaries in the policy.

 

The second guarantee given under this title is the disability guarantee which provides a guarantee against the financial losses that the person will suffer in case of disability. With these policies, the amount of compensation determined in the policy is paid in case of full or partial permanent disability due to illness or accident.