Personal insurance is intended to cover risks relating to individuals such as personal injury, illness, death or disability.
Personal insurance can be taken out either individually or collectively.
Example of personal insurance :
The life insurance policy allows, in case of survival of the insured at the end of the contract, the payment of a benefit in the form of annuity (lifetime: during the whole life, or term certain: during a fixed period) or of capital. This type of contract provides options to the insured in terms of payments to be made for the constitution of savings, withdrawal of funds during the contract (redemption, advance) and possible outflow for the liquidation of savings.
This insurance guarantees the payment of a capital or an annuity to the designated beneficiaries in the event of the death of the insured. There are two types of contracts: "temporary life insurance" and "Permanent life insurance". Under the first type of insurance contract, the payment of the annuity or the capital is subordinated to the death of the insured person during the duration of the contract. As for permanent life insurance, the benefits provided for in the contract will be paid regardless of the date of death.
This is an insurance contract where the probability of death or survival does not intervene in the determination of the benefit. This means that in exchange for single or periodic premiums, the beneficiary receives the constituted capital by the payments made, plus interest and profit sharing.
It guarantees the payment of a benefit defined in the contract due to the physical injury of the insured person (permanent physical disability or temporary incapacity to work) or his death following an accidental event. It also covers the medical and pharmaceutical costs resulting from this accidental event.
Health insurance guarantees the reimbursement of medical and pharmaceutical expenses resulting from an illness. It also covers the costs of hospitalization and medical transportation. The maternity guarantee covers the costs of childbirth.