ASSESSMENT OF THE ROLE OF LIFE INSURANCE IN STRENGTHENING THE SOCIAL PROTECTION OF THE POPULATION IN THE REPUBLIC OF AZERBAIJAN

Abstract

Life insurance is considered to remain the widely used progressive method of insuring risks related to human life in vast countries of the world, and by its nature, origin rather have been belonging to social protection. The role of life insurance in the social protection of the population in Azerbaijan was contemplated based on cross-country comparative analysis based on statistical and analytical methods. According to the reasonable conclusion we build to at the end of our research, a small leap in life insurance instantly improves the deal of the population economically and socially. The author has examined the estimation of life insurance penetration to the social security system in Azerbaijan. The author has fulfilled correlation, regression, and analytical-statistical analyses via cross-country rule. The social security supplement in the government can be exceeded and progressively increased by life insurance.