It provides for the implementation of insurance payment in the event that the insured dies during the term of the insurance contract or lives up to the age or period specified in the insurance contract. That is, if the insured lives until the end of the term specified in the contract, he/she will receive an insurance payment in the amount of insurance specified in the contract (the final limit of the insurer's liability under the insurance contract). Otherwise, if he/she dies during this period, the insurance amount will be paid to the beneficiary (as a rule, his/her heir).
