How does life insurance work?

How does life insurance work
How does life insurance work
How does life insurance work




“Insured” to the person with whom an insurance contract is made on the life of the Insured, Insured and Beneficiary, the character who ensures the interests of the insured before the insurer by paying premiums, and the person who ensures the interests of the insured in the eyes of the insurer and who is not a party to the insurance contract and the realization of the risk In the event of a rule, the person who has the right to demand insurance compensation from the insurer is called “beneficiary”.


The insured may be the same person as the insured, or the beneficiary may be the same person in insurances made on condition of survival.


The life of a person can be insured by a third person at various prices to one or more insurers, even if he or he does not have his or her knowledge and consent, so much so that the third person’s material or moral interest in the continuation of that person’s life is essential for the validity of the insurance.


A.2- Subject of


Insurance With this insurance, the insurer can insure the death of a person within a stated time period or within the terms and conditions specified in the contract, or the possibility that that person will live longer than a certain period specified in the contract or both possibilities together.

However, it is superstitious to insure the death of minors, immigrants, or those who are not capable, and it is valid to insure their lives. In both cases, if death occurs, the assurance of the insurance holder on the date of death is paid.

According to these general conditions, dividends are also paid, if any, in cases where prudence is required.


A.3- Cases Not Covered by Insurance The


following situations are excluded from insurance coverage:


3.1- The insured may only travel as a passenger on an aircraft or any airship of enterprises licensed to transport passengers on commercial airlines without notifying the insurer. If the death of the person whose life is insured occurs during the air travels other than the passenger capacity, the company is only liable to pay the prudence; death compensation is not paid.


3.2- If  insured dies as a result of suicide or attempted suicide, the insurer pays the current presumption of  insurance, regardless of the mental faculties of the insured at the time of suicide. Unless the term is shortened by a contract on the contrary, if the insured has continued for at least three years continuously, the insurer is obliged to pay the entire insurance coverage.


3.3- If the beneficiary of the insurance kills the person who has insured on his life or has been complicit in killing him in any way, he will be deprived of the insurance fee and this cost belongs to the heirs of the deceased.


3.4- Unless otherwise agreed by contract, insurance is not valid in case of war However, if  insured dies during the war and because of war movements, the supposed premiums shall be paid to the beneficiaries on the date of death together with the technical interest for the period until the date of payment.


3.5- Unless otherwise agreed, the insured dies as a result of AIDS, the use of nuclear, biological and chemical weapons or any attack and sabotage or nuclear risks other than those for therapeutic purposes, which may result in the release of nuclear, biological and chemical substances, the insurer will only be liable for discretion. is Mandated to pay?


A.4- Increasing Insurance Amount During the


Insurance period of time, the insurance amount may be increased upon  request of the insurant and the acceptance of  insurer.


Except for the cases that increase the insurance amount automatically due to the special conditions of the insurance, when the insurance requests an increase in the coverage, it is obliged to notify the insurer in writing and submit a new medical report to the insurer when deemed necessary by the insurer.


The provisions of C.2 are applicable for the declarations to be made in case the insurance amount is increased.


A.5- Beginning of Insurance and End of


Insurance, beginning in the policy and in the days written as the expiration date, unless otherwise agreed by Turkey starts at  12:00 lunch with clock and noon at 12.00 and ends with the realization of any event risk.


A.6- Geographical Boundary of the Insurance


This insurance is valid all over the world.




right holders are Mandated to alert the insurer within 5 days from the date that the hazard has occurred.


In order to claim their rights arising from the policy, right holders provide the following written documents to the insurer at their own expense.


  1. a) Insurance policy, (in case of loss, a signed declaration to be taken from the insured or right holder is sufficient),


  1. b) Certified and certified identity register copy to be given by the civil registry administration,


  1. c) If necessary, a doctor’s report explaining the cause of death or a burial permit,


  1. d) If required, Decision of absence,


  1. e) In cases where the beneficiary is not appointed,


the insurer may also request a health record and hospital status report in order to finalize the compensation for death risks, if necessary. The insurer is obliged, upon request, to provide the beneficiary or the policyholder with a receipt against the documents received regarding the payment of  compensation.


After all, documents have been submitted to the insurance company, the insurer pays the final indemnity to the right holders within ten days, according to the terms of the contract. In cases where the policy is not available, company records are taken as a basis.


It is sufficient to provide only the insurance policy and the certified population copy for the payments to be made due to the expiration of the period specified in the contract for contracts made survival condition

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