What is included in life insurance


Life insurance is one way to protect yourself and your family from unforeseen circumstances. Every day we face risks that can be fatal. Financial protection helps to ensure that these risks can be successfully overcome. Do you know that life insurance can not only protect against risks, but also help save money for important purposes? We talk about the types of insurance and how insurance protection can generate income.


What are the benefits of life insurance

The main task of insurance is to support you financially in case something happens. Depending on the program, the policy covers a variety of types of damage to the insured from domestic injuries to diseases. Unfortunately, the policy cannot prevent the event, but the payment will help reduce the negative consequences of this event.

But that’s not all. Insurance has long gone beyond paying compensation in case of accidents. Today, insurance programs are not only the protection of life and health from injuries or illnesses, but also a financial instrument for creating and increasing capital, which allows you to:

    • receive additional income higher than on the deposit;
    • save money to achieve your goal;
    • protect capital from the claims of third parties.


Below we will tell you how to insure life in order to receive interest income every month.

Who needs life insurance and why?

It is generally accepted that only people with a dangerous profession, or those who are passionate about extreme sports, need insurance. This is true, because in these cases there are increased health risks. But insurance is also useful for those who live ordinary lives. Protection will be useful:


1. To everyone who thinks about their loved ones. Injury or illness is always an unforeseen expense. Reduce the burden on the family by simply issuing a policy for yourself, your spouse, or your child – it is inexpensive, and the payment will help compensate for treatment, including in a paid clinic.

2. Those who have a loan or mortgage. If there is a policy, the insurance company will complete the payment on the loan if the borrower is no longer able to pay the bank himself. Relatives will not have to sell their homes or take out new loans.

3. Traveling abroad. Insurance helps cover the cost of medical treatment. This is very important, because our medical policy is not valid abroad, and seeking medical assistance for foreigners is expensive. Plus, you can enable protection in case of lost luggage or flight cancellation.


4. Anyone who saves and wants to receive passive income. Endowment and investment life insurance programs help to generate capital for serious purchases, education of children, and future pensions.

5. Those who want to protect their savings. Funds contributed under HOA and ILI agreements cannot be recovered, seized or divided during the division of property.

We can say that everyone needs insurance, but for different purposes. This is a good tool for people who plan their future. The right program will help you protect yourself from risks, achieve your goals and improve your financial situation.

Types of insurance programs

There are many different programs on the insurance market, and when buying a policy for the first time, it is difficult to understand all the offers. Conventionally, the types of life insurance can be divided into several categories:

1. Risky. In its purest form, it protects against the only risk – the death of the insured. More popular are mixed insurance programs that also include injuries or illnesses.

2. Cumulative. The risk here is the death of the insured or his survival until the due date. The goal of the program is to accumulate a predetermined amount by a selected date. The policyholder makes regular contributions, and in the event of his death, the entire amount is paid by the insurance company.


3. Investment. Programs for people who want to receive passive income through investment. The insurance company invests the client’s funds in stock market instruments on the rights of trust management. What makes it special is that it has a money-back guarantee. Whatever happens in the financial markets, the insured will get his money back. In this case, there is an additional protection of life.

4. Mortgage or credit. This is a type of risk insurance in which the bank is the beneficiary of the policy. If an accident occurs with the borrower, the insurance company will cover the balance of the debt. The family of the insured will not have to urgently look for money to repay the debt.

Many programs are designed like a constructor. The insurance company allows you to supplement the list of risks for more effective protection or connect the investment component to savings programs if the client wants to receive passive income. Additional options are very convenient, because they allow you to create an individual product for your own needs.

Risk insurance

The essence of risk insurance is clear from its name. If a risk event occurs, the policyholder will be compensated. You can spend it on anything: for household needs, treatment, recovery from an illness, or any other purpose. Risk insurance is distinguished by simple and clear conditions, which is why it is very popular. A person does not need to understand the intricacies of complex financial instruments in order to simply issue a policy and protect his life.


Initially, risk insurance meant protection only against a fatal outcome. Gradually, the programs began to expand to include health protection items. This is called mixed insurance, and now the policyholder receives a payment in several cases at once:

      • death;
      • disability of 1 and 2 groups;
      • trauma;
      • diseases.


The peculiarity of risk insurance is that it is very flexible. You can get a permanent policy or insurance only for a certain period. For example, protective programs are popular for holidays abroad or for sports competitions. Also, the policyholder himself chooses the amount of insurance coverage. This is the amount of compensation that he will receive when a risk event occurs.

Life insurance for mortgage or loan

Life insurance in Russia is a voluntary service, and no one can oblige a person to issue a policy against his will. In practice, when applying for a mortgage or a loan, banks require the borrower to protect his life. If the client refuses, the bank may worsen the terms of the loan or not issue it at all.

For credit institutions, borrower life insurance is a way to reduce their financial risks. If the client does not become, the heirs may refuse to pay the debt. In addition, heirs may not be at all. The bank will have to seize the property and sell it at auction, which will lead to losses. But if the client had a policy, the insurance company will simply pay the balance of the debt to the credit institution, and the property will be transferred to the heirs.


Now more and more borrowers choose life insurance voluntarily, realizing the risks of long-term loans. A mortgage is issued on average for 20-30 years, and it is quite difficult to plan your life for such a period. Insurance is an additional protection in case of unforeseen circumstances.

Standard mortgage life insurance uses protection against the following risks:

          • the death of the borrower;
          • the onset of disability of 1 or 2 groups.


Such a set is due to the fact that a person will not be able to make contributions if he passes away or becomes seriously ill. Many borrowers add to the list to include temporary disability protection. If the policyholder is unable to work due to illness or injury, the insurance company will make loan contributions for the entire duration of the sick leave.


A feature of life insurance for a loan is that the bank is indicated as the beneficiary in the policy. The sum insured is always equal to the balance of the debt or more than it (but not less). These conditions mean that in the event of a risk event, the insurance company will transfer money directly to the credit institution. If the amount is more than required to cover the debt, the insured person or his heirs will receive the balance.

Investment life insurance (LIS)

ILI – programs for people who want to invest free funds, but are not ready to independently understand the intricacies of this process. Working on the stock market is always a risk of losing your investment. Therefore, without proper knowledge, it is dangerous to invest. ILI provides an opportunity to receive passive income without risk. All investments are returned at the time the policy expires.

Investment life insurance is arranged as follows:

1. Determination of a comfortable amount for investment.

2. Choice of frequency of contributions. You can deposit money once or choose another option for regular payments (monthly, quarterly, annually).

3. Definition of investment strategy. For example, we offer the placement of funds on deposits, the purchase of shares in leading Russian companies or the transfer of money for trust management.

4. The choice of the frequency of income. Profit can be withdrawn at the end of the contract or receive an annual payment in the form of a coupon.

5. The insurance cover is additionally valid for the entire period. Payments are made immediately upon the occurrence of an insured event: partial or complete disability or death of the insured.

The peculiarity of ILI is that the invested funds are guaranteed to return to the owner of the policy (or his heirs). With independent investments, this is not possible. Everyone can lose money in the stock market, so risk-free investments are a serious advantage of ILI. Additional options available to policyholders include:

              • the right to receive a social tax deduction if the insurance contract is concluded for a period of 5 years or more;
              • protection of invested funds from the claims of third parties (they cannot be arrested or divided during a divorce);
              • choice of any beneficiary at the request of the policyholder.


Of the additional options in the ILI, it is possible to select risks. It is also allowed to change the investment strategy once a year if the previous one does not suit you for any reason.

Cumulative life insurance (CLS)

The main task of the HOA is to help a person save money by a certain date. Usually we are talking about global financial goals: to prepare for a child’s education at a university, to buy a car or an apartment. That is, the amount that they plan to raise is quite large.

And sometimes you need to save up for an event that is planned in the near future, and here a three-month HOA agreement with a high interest rate can help.

At Renaissance Life, we have a program that allows you to:

                  • accumulate money;
                  • get a high guaranteed income;
                  • insure life;
                  • protect money from the claims of third parties.


We are talking about the Smart Plus endowment life insurance program , the interest rate for which is higher than for bank deposits. Moreover, income is guaranteed even in case of early termination of the contract: you can withdraw the money in a month and receive the entire amount of investments plus interest for the past period.

Here is how the Smart Plus endowment insurance program works:

1. You choose the amount of the insurance premium from 100 thousand to 3 million rubles.

2. Conclude an insurance contract for 3 months.

3. Pay the fee – this can be done online.

4. After 3 months you receive money and interest.

5. If you want to upgrade your rate or conclude a contract again, leave a request to receive a personal offer.

An important plus is that your life is insured for the entire term of the contract!

The Smart Plus program compares favorably with a standard bank deposit not only with an increased rate, but also with other features:

                      • legal privileges. Contributions under the HOA agreement are not divided upon divorce. Also, bailiffs cannot arrest them. Until the moment of payment, the funds are on the accounts of the insurance company, which allows them to be protected from the claims of third parties.
                      • The right to designate any beneficiary. It does not have to be a relative or legal heir. You can choose any person.


You can apply for the Smart Plus insurance program online: you only need a passport. Learn more about the conditions on our website or leave a request to receive special conditions at an increased rate.


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