pays out face value as compensation for the losses incurred under the policies of the insurer.
3. Disability or Income Protection: The second application context is disability or income protection insurance. Here again, as in the previous case, it can be a mortality bond again but the party taking the risk is the investor and the party receiving the payment is the insured on the basis of disability or extended periods of absence from work.
Benefits of ILS for Personal Risk Exposure
1. Access to Capital Markets: Shifting personal risks to the capital markets will enable people access pools of capital, which are bigger than in any other form of savings. This can particularly be very important with regards to high-risk people because they may face prohibitively high premiums under traditional insurance models
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