In the next three years, an investment guarantee system may appear on the life insurance market. A similar approach is already in effect with the deposits of citizens, the funds on which are protected within 1.4 million rubles. In January, the bill will be published on the Internet and sent to interested parties and will be submitted to the government in 2022, the press service of the Ministry of Finance told Izvestia.
The project provides for a two-year transitional period, during which by-laws regulating the actions of the participants will be adopted, and the infrastructure for the operation of this system will be launched, the department added. The All-Russian Union of Insurers (ARIA) supported the introduction of guarantees in life insurance. The mechanism will appear on the horizon of three years and will cover long-term accumulative life insurance contracts, noted Viktor Dubrovin, vice-president of ARIA.
The insurers also praised the initiative. The system will improve customer security and promote products. At the same time, the deductions of companies to the fund will range from 0.003% to 0.3% of the amount of insurance reserves, said Vladimir Chernikov, general director of Ingosstrakh-Zhizn IC. First, it is necessary to ensure the capital adequacy of the fund, so in the first years we should expect the maximum rate of deductions, says Ksenia Artemyeva, Operations Director of the Fast River fintech platform. Therefore, policies can rise in price by several percent.
More details – in the exclusive material of Izvestia:
Risk-bypass: the system of guarantees in life insurance may appear in three years
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
