Analytical assessment of current state and prospects of life insurance market development in Ukraine

Abstract

The most important factor for the socio-economic development of each country is the well-being and health of its citizens. Unfortunately, at present, these two elements are focused only in developed countries. After all, ensuring the social protection of population and the constant increase in the level of income of society is a priority of all cases in most countries of the world. As for Ukraine, this issue has remained almost without attention for a long time. However, today the role of social protection of citizens has increased considerably. Such a role is actually realized through the development of the life insurance market. The article deals with the scientific approaches to the interpretation of the concept of «life insurance» and its role in the economy of the state and the life of each person is determined. The current state and prospects of life insurance market development in Ukraine are analyzed.

Keywords

• life insurance companies
• life insurance
• insurance companies
• insurer; insured
• insurance premiums
• insurance policy