Abstract
The negative demographic trend over the last more than two decades in the Republic of Bulgaria raises the question of the reasons for the falling birth rate in the country. Some of these reasons led to the negative natural growth are purely negative. Some couples give up the opportunity for second and following children due to the fact that, growing them is related to newly created additional, often significant family budget expenses. An alternative to overcome the situation concerning the demographic decline in the country is the use of economic incentives to young families for child’s birth and childcare. Payments to which parents are entitled under the social security system (in case they are insured persons) and the social assistance system (in case they are uninsured persons) unfortunately are of small size that does not allow full satisfaction of newly emerging needs. In the process of clarifying this type of payment, it is logical to conclude that it is necessary to develop the potential of additional activities such as insurance.
Highlights
Maternity has many specific features that differentiate it from the traditionally perceived understanding of the essence and nature of the known insurance risks
Despite the length of maternity leave provided by the social security system and the amount of benefit, these funds prove to be insufficient for parents to meet emerging needs in relation to the new family member
This paper focuses on fundamentally new product for the Bulgarian insurance practice
Summary
Maternity has many specific features that differentiate it from the traditionally perceived understanding of the essence and nature of the known insurance risks. The lack of adequate updating and linking the amount of cash benefit for raising a child from one to two years old with a key parameter such as minimum salary, minimum or average social insurance income results in discouraging the young parents, delay of reproductive function and an increase in social tension as whole. The additional conditions to be met by the mother (adoptive mother) are: She is not insured and does not receive benefit in case of pregnancy childbirth and raising of a child under the Social Insurance Code; The child is not in a specialized institution for children of full state support; The child should live permanently in the country. Regarding the method of installment plan of a single insurance premium, the term of insurance policy, whether it is long-term (between 3 and 20 years or more), is important (Terziev, Banabakova, Georgiev, 2018c, pp. 935-944; Terziev, Banabakova, Georgiev, 2018d, pp. 973-980; Terziev, Banabakova, Georgiev, 2018e; pp. 1275-1281; Terziev, Banabakova, Georgiev, 2018f, , str.; Terziev, Banabakova, Georgiev, 2018g, str. 99-104; Terziev, Banabakova, Georgiev, 2018h, str. 104-109; Terziev, Banabakova, Georgiev, 2018i, str. 110-115; Terziev, Banabakova, Georgiev, 2018j, str. 116-121; Terziev, Banabakova, Georgiev, 2018k, str. 122-127; Terziev, Banabakova, Georgiev, 2018l, str. 127-131; Terziev, Banabakova, Georgiev, 2018m, str. 132-137; Terziev, Banabakova, Georgiev, 2018n, str. 137-142; Terziev, Arabska, 2017a; Terziev., Аrabska, 2017b; Terziev., Аrabska, 2017c; Terziev, 2017е, Terziev, 2017f; Terziev, 2017g; Terziev, Arabska, 2017h; Terziev, Nichev, Simeonov, 2017i)
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: IJASOS- International E-journal of Advances in Social Sciences
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
