Abstract
Life insurance is the most important type of personal insurance. The paper analyzes main indicators characterizing the current state of life insurance in Ukraine and its impact on domestic insurance market in general. Trends in insurance premiums and insurance payouts are identified, and concentration of this insurance market segment is examined. Life insurance in the context of its main forms is analyzed. Solutions to the existing problems are determined and recommendations are provided to improve life insurance market in Ukraine.
Highlights
Life insurance has a significant impact on the economy, since, on the one hand, it is an important indicator of the overall economic development, but, on the other hand, it serves as an effective measure to ensure its growth
Ukrainian life insurance market is in its formative stage
Revealed the main tendencies of life insurance market in Ukraine. It should be Kinchak (2015, p. 152) considered life insurance mar- noted that the coverage of life insurance problems ket in Ukraine, its directions for development, state has its limitations, which are the lack of complete of domestic life insurance market compared with statistical data on foreign experience in this field
Summary
Life insurance has a significant impact on the economy, since, on the one hand, it is an important indicator of the overall economic development, but, on the other hand, it serves as an effective measure to ensure its growth. Creating favorable conditions for the life insurance market in Ukraine is extremely important issue that requires both careful examination and sequential actions of state, insurance organizations and society as a whole.
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