In
the following, we provide a very general overview of the types of life
insurance products that are offered in the marketplace. Each of these
products is offered in some form by IIC office or through branches and
subsidiaries of the International Bank of Azerbaijan.
What is life insurance?
A Life insurance policy is a contract between you (the policyowner-insured)
and an insurance company (the insurer). Under the terms of a life insurance
contract, the insurer promises to pay a certain amount of money (death
benefit) to someone you choose (a beneficiary) when you die, in exchange
for your premium payments.
This risk transfer may be helpful in the following life insurance products for individual clients: