The volume of funds invested in life insurance in Azerbaijan increased by 45.4%.

Referring to the Central Bank, "Apa-Economics" informs that last year the amount of funds collected for this type of insurance in Azerbaijan was 396 mln.

It was 687 thousand manats.

Compared to 2021, this indicator is 45.4% or 123 mln.

762 thousand manat is more.

272 million in 2021.

925,000 manat insurance premiums were collected.

During this period, the market share of life insurance in life insurance increased to 93.3%.

So, this previous indicator was 85.4%.

Last year, payments for this insurance amounted to 242 mln.

It was 78 thousand manats, which is 4.5% or 10 million manats compared to 2021.

359 thousand manat is more.

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

Employees who send a part of their salary to life insurance every month, along with the added interest at the end of the contract, the tax and social insurance payments collected during that period are also returned to the insured.

Shukran Mammadov