Social and Legal Aspects of Life Insurance

Abstract

The article discusses social and legal aspects of life insurance. The aim of this study is to analyze problematic issues related to life insurance, which I believe, are abundant in practice today.
Despite the fact that it is impossible to evaluate the human life with monetary amount, however, life insurance suggests a certain amount of money that will be received by those beneficiaries who are dependent on the owner of such insurance. This type of insurance is related to the special right – life. Therefore, it is natural that the issues arising from life insurance should be especially regulated and protected.
Despite the impression that the matters on life insurance seem to be well regulated in Georgian civil legislation, if we try to deeply examine their essence, we would see that many problematic issues are present, that arise especially in practice. Therefore, while writing this paper, I will try to use both Georgian and foreign legislation as well as historical and legal and comparative legal analysis.
I believe that the issues under examination are definitely problematic and critical, and the practice outlined in this paper enables to fill the gaps in this field. Therefore, the conclusive part will summarize the research findings, identified problems and some kind of recommendations to solve these problems.