Funds invested in life insurance in Azerbaijan increased by 44.9%.

"APA-Economics" informs that in January-November 2022, the volume of insurance collections collected through five life insurance companies in Azerbaijan reached 359.3 million manats. In other words, insurance investments increased by 111.4 million manats compared to the same period last year. that in the same period of 2021, life insurance companies were able to collect insurance premiums of 247.9 million manats. During this period, the market share of life insurance in life insurance increased to 93.1%. So, in the same period of last year, this indicator was 85.2% had organized.

In the eleventh month of 2022, life insurance payments decreased by 1.2% to 222.9 million manats.

In the same period of 2021, payments for this type of insurance amounted to 225.7 million manats.

Note that life insurance premiums usually cover a period of 3-5 years.

Employees who put a portion of their wages into life insurance each month can get back the tax and social security payments due each month, along with the added interest at the end of the contract.