LIFE INSURANCE IN CIRCUMSTANCES OF COVID 19 PANDEMICS

The subject matter of the research in this paper is the impact of the crisis caused by the Covid 19 pandemics on life insurance. The significance of life insurance for the population and economy is emphasized at the beginning. This is followed up by a presentation and analysis of the data on the global decline in the premium volume for these lines during 2020 and the prospects for recovery. Moreover, a due attention has been dedicated to the impact of the Corona virus on insurance claims tendencies. A special chapter concerns two types of life insurance - life insurance and occupational incapacity insurance. The first was dealt with because of its significance and the second because of the great attention it received as the result of the outbreak of the pandemic. A part of this paper covers the consequences of the pandemic crisis in Serbia. The general conclusion is that life insurers in Serbia and globally responded well to the growing challenges and that, in the future, they will face declining investment income and a significant adjustment of the insurance proposal to the new developments.

Key words: life lines, Covid 19 pandemics, life insurance, occupational incapacity insurance, Serbian life insurance market.