The life insurance company Nomad Life has recently launched an investment insurance product ZOLOTO NOMADOV Invest. The owners of these policies independently choose their investment strategy. The future profit of the life insurance agreement depends on this choice. However, not all Kazakhstanis are interested in understanding the intricacies of the international or Kazakhstani stock markets; therefore the company offers the ZOLOTO NOMADOV product as an alternative to multiply savings. It is a reliable financial instrument for deposits. The insurance organization places clients' money in securities of issuers with an average rating of "BBB", which, according to an international rating scale, means: a good creditworthiness, low expectations for credit risks and adequate ability to timely repay financial obligations. “Unlike second-tier banks, life insurance companies do not issue loans, i.e. they do not expose their clients' funds to high credit risk; instead, they invest in long-term highly reliable assets (high-rating securities). That is why we guarantee income up to 3.41% in foreign currency,” explains Aida Kaliyeva, director of the regional office of JSC LIC Nomad Life.
Meanwhile, bank rates are regularly adjusted, and it is possible that foreign currency deposits will have zero or negative profitability in a few years. Besides, “the median rating of Kazakh banks “B” is low in the international context and five points below the sovereign ratings. The reserves formed by many banks still do not fully cover problem loans,” says the S&P Global Ratings report. The deposits do not provide insurance coverage; the same cannot be said about life insurance savings products. Upon the expiration of the contract term or the insured passing, 100% of the insured coverage plus investment return are paid. During the pandemic, Nomad Life recorded a sharp increase in the number of insurance claims, by 200% in endowment insurance, in particular. The total amount of payouts by the company under ZOLOTO NOMADOV contracts to the families of those who died from COVID was 182 million tenge.
“Most clients consider ZOLOTO NOMADOV as a tool for saving and accumulation, especially since it has a number of advantages. First, the return under the contract is not subject of taxation. Another important point is that the policy funds are not subject to confiscation, collection, and also are not included in the marital property in the event of divorce. And, thirdly, the client can terminate his agreement ahead of schedule and receive the invested amount without loss after one year", - clarifies the details Aida Kaliyeva.
The insurance payment is not included in the inheritance, but is made to the person specified in the insurance agreement as the beneficiary. “Based on his financial capacities, the client determines the contribution amount comfortable for him and the term of the contract. As a result, the policyholder receives a decent dollar investment income and life insurance. The policy is valid anywhere in the world”, - emphasizes the regional director of JSC LIC Nomad Life.
Insurers believe that endowment insurance has great potential, especially in light of the current epidemiological situation. All contracts of the company, including ZOLOTO NOMADOV, treat death from COVID-19 as an insured event. “ZOLOTO NOMADOV is a classic product that gives people confidence in the future,” she says.
An endowment life insurance policy for European and American consumers is as familiar a product as compulsory liability insurance for vehicle owners today. Many Kazakhstanis do not yet know that insurers are offering eligible investments. In order to motivate concluding the ZOLOTO NOMADOV agreement, Nomad Life is currently holding a promotion among the ZOLOTO NOMADOV policy owners of and raffling off cars of a popular brand and other valuable gifts.
For more details go to www.zolotonomadov.kz or phone number 3260