A general evaluation on life insurance in Turkey

Abstract

Insurance is a contract that aims to compensate the insured who suffers from building, object, property or life damage as a result of natural disasters such as fires, accidents, deaths and so on, by the insurer. In other words, it compensates for the damages and tries to reduce the uncertainty and risks of the future. In this study, we have studied Life Insurance in Turkey, a Middle East country whose 90% of the population is Muslim and is in the category of developing countries. As a result, we observe that in countries like Turkey and similar countries life insurance does not develop at the desired level due to religious, technological and economic reasons

Keywords

• Insurance, life insurance, insurance in Turkey, reasons for not developing