Forms and types of insurance are divided into two groups. There is compulsory and voluntary insurance. The initiator of the first is the state. It obliges legal entities and individuals to pay a certain amount of money and thereby ensure the maintenance of public interests. Voluntary insurance is provided by business entities, individuals and legal entities on their own initiative.
Mandatory forms and types of insurance come into force when the state believes that in this situation the interests of not only individual citizens, but of the whole society as a whole are taken into account, and insurance protection can become a guarantee of well-being. There is a list of such objects that are subject to compulsory insurance, certified by the relevant legislative act. The law also determines the amount of insurance liability, the level of insurance coverage, the rights and obligations of the parties to the contract, tariffs and prices for insurance services and other important issues.
Those types of compulsory insurance, which are defined by state laws, place a great responsibility on the insured, who in some cases may become a participant in the fulfillment of the insurance obligation. Failure to comply with these obligations leads to the engagement of the insured both in the face of the insured and the state. These provisions are spelled out in detail in the Civil Code of the Russian Federation. The insurer does not have the right to force the insurer to conclude compulsory insurance on conditions that are put forward personally.
There are the following types of compulsory insurance: insurance of property of citizens, which is related to the interests of other people, insurance of passengers from accidents on all types of transport, including air, road, rail, sea, etc. This also includes compulsory medical insurance, insurance of military personnel and motor third-party liability, as well as professional liability of certain categories of specialists.
Among the contracts concluded more often than others, the forms and types of insurance related to the protection of citizens' life are highlighted. Types of life insurance can be temporary, lifelong and mixed. Temporary insurance is the most affordable and inexpensive way to get compensation in the event that an insured event, that is, death, occurs before the expiration of the period specified by the policy. Otherwise, the client does not receive anything, and his contribution remains in the assets of the insurer.
Lifetime and mixed life insurance are more beneficial. The first method guarantees the accumulation of premiums, payment of insurance compensation to the beneficiary, if the insured dies. In addition, the citizen himself can, at his request, terminate the contract and collect the cost of the policy in cash.
And funded forms and types of life insurance are mixed insurance policies. This is a broad-spectrum program and citizens who have reached the age of majority and up to the age of 65 can take part in it at will. Anyone who participates in such life insurance is the owner of the opportunity to accumulate additional funds for a decent old age and provide some assistance to their loved ones, for example, children. In the same way as in the previous case, the occurrence of death is an occasion to receive the amount prescribed by the terms of the contract by family members who become beneficiaries in this situation. This type of life insurance, less expensive than life insurance, has long been valid in developed countries and is gaining popularity in our country.