The Role of Life Insurance in the Context of Cover the Needs of the People in the Czech Republic
The Role of Life Insurance in the Context of Cover the Needs of the People in the Czech Republic

Author(s): Eva Ducháčková
Subject(s): National Economy, Financial Markets, Socio-Economic Research
Published by: Masarykova univerzita nakladatelství
Keywords: life insurance; death; unit linked life insurance; technical provision of life insurance; risk portion of premium; investment portion of premium;
Summary/Abstract: The life insurance is considered to be an instrument to cover the needs of people, on the one hand, a tool of covering the consequences of the risk (death and other risks – accident, invalidity, illness etc.), and on the other hand, a tool for savings to cover the needs of people in post-productive age. At present, many factors affect the development of life insurance and especially its efficiency. In the use of life insurance as a means of addressing the needs of people in old age is in the last period on the Czech insurance market a number of problems. The problems arise from the form of life insurance products, from regulatory approaches in life insurance, from approaches to selling life insurance contracts. The paper focuses on the analysis and evaluation of the role of life insurance in current conditions and on the question of consumer protection issues in connection with the life insurance. The aim of the paper: analyze the role of the life insurance by the cover the needs of the people nowadays in the Czech Republic in the context new changes on the market, in the new conditions on the insurance market.

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