Life Insurance: Back To Basics

The modern insurance contracts we have today, such as life insurance, date back to merchant practices in the 14th century. It has also been recognized that there are always different types of security mechanisms and, in some ways, resemble insurance contracts in their embryonic form. You can also get the best life insurance in Spanish via

The phenomenal growth of life insurance from nearly 100 years to its gigantic share today is not one of the extraordinary wonders of today's business life.

Fundamentally, because of the relentless pursuit of economic security, the increasing need for social stability, and the need for protection from the debilitating dangers of catastrophic disasters and sudden economic shocks, life insurance has become one of mankind's most tangible needs.

Insurance is no longer the monopoly of the rich. Gone are the days when only the social elite received their protection, because today insurance contracts are fulfilled with the sure expectations of many families with simple means. It seems to be woven into a corner of the national economy. It concerns the most sacred and sacred relationships in one's life. Parents love. Love the wives. Love children. And even love business.

Life insurance pays an agreed amount, which can be referred to as sum assured. The amount covered under life insurance is intended to cover the financial needs of you and those of your living dependents in the event of death or injury. Therefore, life insurance offers financial protection or protection against these risks.

Insurance is a means of spreading risk. In principle, the insurer or insurance company consolidates the premiums paid by all customers. Theoretically, the premium rate corresponds to the loss of each insured person.