Is the insured allowed to choose where to invest?

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Free choice of beneficiary is permitted In the case of an individual life insurance policy, the situation when a payment from the insurance company is due is often the death of the insured. The beneficiary receives the money. Usually, this is the spouse or children. But the law does not limit policyholders in this regard.


Therefore, you are allowed to appoint anyone as the twitter data beneficiary. If the policyholder dies, the beneficiaries can immediately apply to the insurance company for payments. They do not need to wait six months, go to a notary, or enter into an inheritance. The right to inheritance also does not matter. Since any person can be appointed as a beneficiary, it does not matter whether he or she is one of the heirs of the deceased. And if so, to which queue. A number of insurance companies consider the death of an insured person to be an insurance event with increased payout rates. This means that the beneficiaries will be paid: - The money that the insured paid.


– Income received as an investment. – Interest is an addition according to the increasing coefficient. As a result, in the event of a fatal outcome, beneficiaries can receive 300-400% of the money contributed by the insured person. And, of course, we must not forget what was said at the very beginning. ILI is a comprehensive product, so you simultaneously receive both profit and protection for yourself and your family. Disadvantages of ILI ILI also has its downsides. It is impossible to terminate an insurance contract without losses. However, this is a drawback of many policies. There is a "cooling-off period" when this is possible - 14 days. But sometimes insurance companies extend it to 30 days.