The characteristics of life risks are reflected in the insurance policies that cover those risks. It is difficult to estimate the value of a person, and therefore it is left to the trustee to determine the amount of the insurance according to the ability of the trustee to pay the installments on time.
The loss resulting from the verification of life and death risks is always a total loss.ĥ. Therefore, the relationship between the possibility of death and the age of man is a direct relationship, especially after a person reaches a certain age.Ĥ. The probability of death increases for any person with increasing age, due to the weakness of the human body and its increased exposure to diseases, especially aging diseases. The dangers of life relate to a person’s life or a lack of income.ģ. The risk of death by its nature is certain to occur in the long term, but the occurrence of death on the date of a probable event can happen at any time.Ģ. In the event that the risk of death is covered, we find that the document does not cover the accident of death per se, but rather covers the date of the accident. The following are the most important of these features:ġ.
The risks covered by life insurance policies have several features that distinguish them from other insurance policies.
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