When we meet old traveling retirees being on holiday abroad, we are overwhelmed by a feeling of annoyance and injustice. If you convert their pensions into tenge, you get unprecedented amounts of payments by our standards. Let us understand, why such high pensions are in the West.

The representatives of the Department of Consumer Rights Protection of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market spoke endowment life insurance.

A new strain of coronavirus Delta is becoming dominant in many countries worldwide. Against this background, corporate clients of insurance companies have begun to show an increasing interest in voluntary health insurance (VHI). Thus, LIC premiums in case of illness increased by 23.3% in May against 17.7% in April (year-on-year). The total amount of fees was 804.4 million tenge. LIC KM Life is the leader in this segment (87.4% of premiums). The company’s press service spoke about the medical insurance benefits.

Halyk-Life offered the market a life insurance program “Life-Persona”. The company’s customers will now be able to independently buy a policy on the organization's website in a few minutes.

Maintaining a habitual lifestyle and level of well-being in retirement becomes almost completely an independent task for each person. Even if you are still far from retirement, it is better to start planning your financial sources in the retirement period now, believes the State Annuity Company executive Galym Amerkhodzhayev.

Along with annuity insurance, life insurance, voluntary health insurance and accident insurance show a strong increase in premiums.

Investment life insurance Unit-Linked became available for Kazakhstani people last year. A potentially high return on investment makes this product. The chief of the investment life insurance department at Nomad Life told LIFE INSURANCE about investment strategy examples.

Over the past few years, Kazakhstanis are increasingly interested in the products of the life insurance market as a form of savings, as endowment life insurance is a method adopted in many countries worldwide to create financial protection for family income. Such programs include payments with a maximum list of situations that threaten the stability of the family budget. LIFE INSURANCE tells how to issue a settlement under such contracts.

Joint Stock Company Life Insurance Company Nomad Life announces the launch of a savings product with a high guaranteed return in foreign currency - Capital.

The total life insurance premiums in the insurance market in 2021 doubled in comparison with the previous year, this was mainly due to endowment life insurance and retirement annuity programs, as the interviewed experts told.

Against the background of instability in international capital markets and closure of another domestic second-tier bank, life insurers manage to earn stable and high income for their clients. Thus, in the first five months of this year, LICs have paid out 12.6 billion tenge to their clients. Azamat Yerdessov, the Freedom Finance Life executive, told LIFE INSURANCE what life insurance companies make money on.

The S&P Global Ratings report “Assessment of Industry and Country Risks of the Life Insurance Sector: Republic of Kazakhstan” notes that the growth of insurance premiums in the industry amounted to 1.1 times over four months of 2021. The representatives of two large companies in the sector, Nomad Life and Halyk-Life, told the LIFE INSURANCE portal which insurance policies are most often bought by LIC clients.

The life insurance market in Kazakhstan is expected to grow at high rates thanks to the economic recovery and regulator's initiatives aimed at developing the life insurance market. This forecast was announced by S&P Global Ratings representatives during the online conference Prospects for the Kazakhstan insurance market development in 2021.

Due to low interest rates on deposits, Kazakhstanis began to size up endowment life insurance, as it is much more beneficial to conclude an agreement with a life insurance company and start getting an additional passive income than to keep money in a bank or buy securities spending money on a broker or paying taxes. Andrey Dzheksembayev, Acting Chairman of the Management Board of JSC Halyk-Life, spoke about the advantages of endowment life insurance (ULI) and its most beneficial terms in his interview with LIFE INSURANCE.