Israel Official State Medal "25th Jubilee of Linked Life Assurance" 37mm 1982 Silver .935 UNC

Description:

Linked life insurance is an original Israeli system of the oldest financial instrument in the world. Many insurance companies in the world looked for ways to guarantee the value of the money from life insurance and investigated many different ways but found no safer or clearer method to answer the problem of inflation than the one used in Israel - linking life insurance to cost of living. The waves of inflation and the drop in the real value of the insurance, brought a very worrying aspect to the development of the branches. To surmount this situation, the insurance companies initiated, from 1957-5717 the system of life insurance linked to the cost-of-living index. The Israeli Government, recognized that life insurance is a very important social and economic instrument which protects the individual on the one hand, and donates to the State economy savings over a long period on the other hand, therefore entered into a contract system with the association of life insurance companies by which the government issues to the insurance companies debt fees linked to the C.O.I, index equivalent to the obligation of the insurance company to its insured. The life insurance industry occupies a very important place within the economic framework of Israel. The success of the linked Israeli life insurance was noted by the whole western world and insurance companies, well established with a long tradition of insurance, are now learning the method from the Israelis. This is a very important and original contribution of the young and dynamic Israeli life insurance industry, to the well-established veteran companies of the world.

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