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Unit-linked insurance is being discussed in the Russian Federation

The law on unit-linked life insurance may be adopted as early as the autumn session. This is a new product that will combine insurance and investment components. At the first glance, it is similar to conventional investment life insurance (ILI), when the client insures their life, and the insurance company invests part of the premium, increasing the client’s funds, writes Forbes Russia.
Unit-linked insurance is being discussed in the Russian Federation

But in unit-linked insurance, unlike ILI, the client decides where to invest part of the premium and also bears the main risks. On the other hand, investment opportunities will expand: the policy buyer will be able to invest part of the insurance premium in instruments chosen by them - shares of open mutual funds - and receive the investment return.

These funds can be managed either by the insurance company, if it receives a license to manage assets, or by a professional company to which the insurer gives these funds in trust management.

The explanatory note to the bill states that the amount of insurance payout or redemption amount under the unit-linked insurance agreement will primarily depend on the market value of the acquired shares. However, such advantages of voluntary life insurance contracts as a special procedure for inheritance, social tax deduction, and exemption from paying personal income tax under these contracts, will apply to the unit-linked insurance agreement.

Source: https://www.forbes.ru/investicii/497997-cto-takoe-dolevoe-strahovanie-zizni-i-smozet-li-ono-zamenit-isz

Photos are from open sources.

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