voluntary insurance

Main article: Voluntary Insurance

Voluntary insurance is valid under the law on a voluntary basis. The law may determine to be voluntary insurance facilities and the most common insurance terms. Specific conditions are governed by insurance regulations that are being developed by the insurer.

Voluntary participation in the insurance fully characterized for policyholders. For example, at the conclusion of contracts of personal insurance, the insurer has no right to abandon the insurance object, if the will of the insured does not contradict the terms of insurance. This ensures that a contract of insurance upon request of the insured. However, the insurer is not obliged to enter into a contract of insurance on the terms proposed by the insured.

For a typical sample of voluntary insurance (not complete) coverage of policyholders related to the fact that not all insurers are willing to participate. In terms of insurance may be restrictions on contracts with insurers that do not meet the requirements imposed on them.

Voluntary insurance is always limited in terms of insurance. There is a beginning and an ending date in the contract. Continuity of voluntary insurance can only be achieved by repeated (sometimes automatic) renewal of a contract for a new term.

Voluntary insurance is only valid for single or periodic payment of insurance premiums. Failure to pay leads to the termination of the contract.