bs-preloader__icon
ru kz en

Who buys endowment insurance policies most often in Russia?

Universal life insurance as an accumulation tool is most often used by the companies’ executives in the realm of trade and industry. Sberbank Life Insurance comes to this conclusion having analyzed 3,500 endowment agreements.
Who buys endowment insurance policies most often in Russia?

Universal life insurance contracts are concluded by commercial and various industries (consumer, food, mining, metallurgy, etc.) workers; these segments account for about 13% of endowment contracts.

 

“Next are financiers and developers: the representatives of each of these activity areas account for approximately 8% of the concluded agreements. Another 7% of contracts are concluded by clients working in healthcare and education. State officials (3% of contracts), law enforcement and the military (2%), clients working in advertising and PR (1%) also save with the help of endowment,” the company’s release says.

 

28% of endowment contracts are concluded by top managers, general directors and their deputies. 10% of clients are middle managers, another 10% are specialists. Individual entrepreneurs concluded 8% of all endowment agreements, pensioners and housewives - 13%.

 

According to Sberbank Life Insurance, about 30% of endowment agreements are concluded by people aged 36–45, almost the same amount, 28% of total contracts are customers under the age of 35 years. 42% of customers are ready to save from 6 to 10 years, 22% plan to make savings for 11-15 years. A fifth of clients sign five-year contracts, and a tenth - 16–20-year contracts.

Photos are from open sources.

Share
read also
AIFC Stock Exchange: new hopes for Kazakhstani LICs
AIFC Stock Exchange: new hopes for Kazakhstani LICs

With the opening of Astana International Financial Center (AIFC) Exchange in Kazakhst...

State Annuity Insurance Company will be put up for sale
State Annuity Insurance Company will be put up for sale

The tender is scheduled for December 28, 2018, minfin.gov.kz has reported today. Star...

Why insurance companies need to go online
Why insurance companies need to go online

Online settlement of insurance events will allow insurers to save several hundred mil...

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
Submit your application