The nature of man cruelly cheated remedies – he does not have any claws or tusks, the teeth are generally better not to remember. But a man came up with insurance and, thus, showed the nature of a long nose, called the social protection. Insurance – is one of the highest manifestations of our sociality, our, if you will, of reciprocity, the capacity for mutual help, mutual support, reciprocity.
Insurance benefits not only the public, businesses and insurance companies, but also and above all, to the state. First, it does not hurt at least a part of the head, responsible for the compensation of its citizens of any losses, damages, etc. Second, the accumulated insurance companies money – that inward investment in the national economy. These are the "long and cheap" money, they dream the finance ministers of all countries of the civilized world. Today, Ukraine needs more than $ 300 billion of investments for the reconstruction of industry and agriculture. The share of foreign investment is only about 5% of the required means of the Ukrainian economy.
Therefore, given the unique investment opportunities in the market of life insurance, the state should strongly contribute to its development. Ukraine, unfortunately, failed to preserve and enhance the positive experience of the Soviet era, when the development of life insurance has become an extremely high level. For example, in 1990 the structure of the insurance state insurance payments to the proceeds of the USSR national economy had 37.1% of the population – 62.9%, of which 90% were long-term contracts for contributions to life insurance. This level of life insurance made it possible to accumulate and use the state to invest huge amounts of money. In recent years, receipt of payments under life insurance agreements show a good trend (growth of the domestic life insurance market are among the highest in the world). If the total amount of insurance payments for the year 1998 the share of payments under life insurance contracts was 1.6%, then the same for the first 9 months of 2007 – 3.9%. In general, the volume of insurance payments totaled about 489 million UAH. at 15 mln. payments. If the insurance coverage in 2000 the per capita amounted to as much 20 cents, while today the figure is 10.5 grn.
Endowment life insurance – one of the convenient and reliable way to long-term investment. It is very popular in the developed world, and now begins to flourish in our country. Life insurance is one of the most important species in the system of private insurance, and occupies a specific place. It combines the process of providing insurance protection and cash accumulation citizens. One of the fundamental features of life insurance is a long-term (up to 40 years and life). The huge popularity of life insurance due to the ability to accumulate large sums of money. To the west is a long-term life insurance policy is a means of accumulating savings. Making over a period of small premiums, the client is ultimately the owner of a large amount of cumulative long-term insurance is the most common type of insurance in Western Europe, America and Japan. Its share is 70% of the volume of insurance payments received by the market in general.
Endowment insurance – is a unique financial tool that combines two features: the accumulation and insurance.