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Clients plan their children’s financial future more often now, according to Russian life insurers

The number of clients of the IC Rosgosstrakh Life who signed endowment life insurance contracts for their children increased by almost 31.8% in 2020, according to the company's press service.
Clients plan their children’s financial future more often now, according to Russian life insurers

Rosgosstrakh Zhizn has been offering the “Children's Capital” product on the market for several years. According to sales, women buy such policies most often making 77.8% of policy owners. Their average age is from 30 to 40, thus, the savings for their children’s future are most often formed by mothers. In 2020, the number of dads who register child endowment has slightly increased: they are not 22%, but 22.2%. The average age of fathers is 40.

Life insurance programs for children help save money for education and create a financial reserve in case of parent's disability.

Source: https://rgsl.ru/news/klienty-rosgosstrakh-zhizn-stali-chashche-planirovat-finansovoe-budushchee-dlya-svoikh-detey/

Photos are from open sources.

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