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Life insurance is a popular tool of saving and provision for retirement age in the more developed markets

Talgat Kamarov - Chairman of the Board of Centras Securities JSC - shared his opinion regarding the conditions, under which life insurance products will become attractive in Kazakhstan, in an interview with
Life insurance is a popular tool of saving and provision for retirement age in the more developed markets

- Talgat Kairbekovich, you are a professional in the field of investment. What factors do you pay attention to prior to making a decision on investments?

- First of all, it is necessary to choose the objects of investment themselves: which securities will most likely grow in the nearest future. Analysts of brokerage companies will help to understand this issue.

Further, it is necessary to determine possible scenarios for development of events that may occur after investing. Namely, the expected price level for fixing the profit when leaving the investments, allowed limits of income reduction in the event of prices correction for securities downwards, etc.

It is also necessary to follow the chosen strategy and correctly interpret current price dynamics. In order to get the maximum income, you need to have sufficient financial resources that you do not intend to revoke in the nearest future.

 - Do you consider life insurance as a good investment tool?

- Life insurance is a popular tool of saving and provision for retirement age in the more developed markets. Such an instrument there is a quite popular due to the general financial literacy of population and relatively financial independence and independence from support of relatives. If we consider the situation in the Republic of Kazakhstan, then there is a lot of uncertainty.

Very tentatively, it can be called a simple and understandable tool for saving, it is also an insurance coverage against loss of income.

As an employee from the financial and investment field with experience of more than 20 years, I independently invest exclusively in securities.

 - How do you assess the level of profitability of LICs’ products in Kazakhstan? Under what conditions can they create healthy competition for mutual investment funds and bank deposits?

- Unfortunately, I’m not familiar with certain LICs’ results of investment activities, as there is no open information about them. But in general, according to some experts, such a product is still not attractive. There are not enough other coverage instruments, such as guaranteeing of insurance benefits payments, in order to increase attractiveness.

Today, in conditions of high interest rates, as well, LICs are forced to pay generous bonuses and, accordingly, to reduce their and further - the client's profit rate in order to compete with accumulative deposits, for example.

 - Do you personally use the products of LICs? If yes, please tell us more about it.

- I have not thought about it yet, but I need to make some mathematical calculations for this matter in order to understand the financial benefits and choose the best product.

 - Can you tell us about your most successful investments in life?

- Unfortunately, I can not name my investment successful as long as I am a conservative and passive investor. The rate of return for such investments is about 15-30% per annum. Such returns can only be earned in stock markets, taking into account a carefully chosen trading strategy.

 - What investments do you consider as the most important ones for yourself?

- Today my main investments are my family and children. I invest almost all of my available funds to the additional education of children. And, I hope, this will be my own successful investment.

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