The cooling period, when you can refuse insurance and return the money paid in full, has been increased from 14 days to 1.5 months under contracts with regular contributions and up to 30 days - with lump sums.
Endowment life insurance (ULI) may be even higher than expected in the short term, due to changes in the yield of securities. Insurers invest money raised through endowment insurance in reliable government bonds.
Investment life insurance (ILI) policies consist of insurance and investment components. Insurers work out the first part by settling insured events. There are difficulties with the second part. In order for the policy to generate return, the investment part is placed in foreign securities. “Most of ILI strategies consist of foreign companies’ stock, the purchase takes place abroad, - the press service of AlfaStrakhovanie-Life explains. - It is suspended now. The termination of contracts is possible only if foreign banks withdraw the previously sold assets from the company, but so far this has not been discussed. Russian companies demonstrate a big drop in the market, but the share of strategies with their stock is only about 0.2%. Besides, ILI programs have various protective tools that reduce the risks of income loss against the level of market decline.”
What will happen next with ILI and whether it will survive, insurers are not yet able to predict.
Source: https://www.banki.ru/news/daytheme/?id=10963372
Photos are from open sources.
