Accidental Injury Insurance: The Concept and Characteristics
3. Looking at the liability reserve: Life insurance is generally a long-term business, and the premiums charged by the insurers are calculated on a balanced basis. According to this calculation model, part of the premium is used as the risk premium for the death benefit of the year, and the other part is the savings insurance premium that is specifically accumulated for future death or expiration. Savings premiums, together with interest accrued on the basis of compounding, constitute a liability reserve for life insurance to ensure future insurance liability. The accident insurance policy has a maximum insurance period of 1 year and is a short-term business. The liability reserve is stipulated in Article 93 of Chapter 4 of the Insurance Law of the Republic of China: The unexpired liability should be drawn from the self-retained insurance premium for the current year. Reserve. The amount of withdrawal and carry-over should be equivalent to 50% of the premium for the year. In addition, accident insurance is also seasonal, flexible and short-term. As far as seasonality is concerned, the Spring and Autumn Festival is relatively the peak season for tourist accident insurance; in the hot summer, the pool accident insurance is bound to be concentrated. As far as the probability of danger occurs, in the typhoon season, the accidental accident caused by the ship accident is relatively more; in the cold winter, the northern country is frozen, and there are relatively many personal accidents that cause falls and falls. In terms of its flexibility: In the actual business, the establishment of many accident insurance policies is mostly signed by both parties. The two parties agree to a maximum limit. As the insurance amount, the insurance liability scope is also relatively flexible. As far as its term is concerned, except for the longest insurance period of 1 year, most accident insurance covers are short-term, such as passengers who take various means of transportation such as trains, ships, planes, etc. Passenger accident insurance, the insurance period is one journey. The swimming pool personal accident insurance is limited to the time corresponding to one session. Health insurance and accident insurance are both short-term purchase insurance. The two have much in common. Therefore, some people combine the two into one, collectively referred to as health insurance. In fact, the liability of the two insurance accidents is completely different, and there are also significant differences in the practical treatment of insurance contracts. It is not discussed here.