NATURE OF LIFE INSURANCE AND THE BENEFITS PAID IN LATVIA

Authors

  • Violeta Smule Rezekne Academy of Technologies (LV)

DOI:

https://doi.org/10.17770/iss2018.4257

Keywords:

insurance benefits, insurance market, life insurance

Abstract

Life insurance persistently evolves in Latvia. Competition in the insurance market is tough; consequently, the insurance companies apply diverse marketing techniques to retain their current clients and attract new ones. The research aim is to examine the nature of life insurance and the amounts of insurance benefits paid in Latvia. Life insurance is a kind of insurance that covers the death of the insured person. Life insurance is necessary for persons providing family incomes, as it protects the family members against financial problems in case of loss of the family provider. In Latvia, life insurance with savings is the most widespread, as this kind of life insurance combines two elements – the insurance of one’s own life and savings for the future.

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Published

2019-03-19

Issue

Section

Economics and Management