The customers can form a financial reserve for any purpose under this program, for example, a family support in the future or addressed capital transfer. In the meantime, the client’s life and health are insured: if unfavorable events occur, the insurance company will make payment under the contract or continue paying regular contributions for the client (relevant for installment programs).
“The results of our research confirm that, as in the previous year, Russians are focused on a savings model of behavior. However, recently we have noted the population’s interest in financial instruments with a shorter horizon. 12% of surveyed Russians stated their desire to form savings over 7-12 months. Therefore, we launched 1-year policies in the ‘Ticket to the Future’ endowment program a year ago. And now we have added this option to the ‘Formula of Life,” commented Ruslan Vesterovsky, Senior Vice President, Head of the Wealth Management Block at Sberbank.
Photo is from open sources.
