THE “ALLOWANCE IN EXCHANGE FOR PROPERTY” INSURANCE

Abstract

Aging of Bulgarian citizens, the imperfections of the pension security system, the security of older people who own property but do not have sources of income to cover their everyday expenses, are the main prerequisites for the introduction of the “Allowance in Exchange for Property” insurance product. The paper looks into the problem from an insurance and technical point of view. The findings are then taken into account in determining the specific requirements that must be met along with the general insurance conditions in the development of the insurance rate presented at the end of the paper.