Life Insurance Contracts Will Not Bring to People of Stability

The Russian life insurance market is going to breathe life again, this time Sberbank plans to revive it. The initiative of the state bank will enjoy broad legislative support of the authorities. Already this spring, the government can consider the initiative of the Federal Service for Financial Markets, there are also significant doubts that the yield of accumulative investment insurance, which actually is life insurance, will exceed the level of inflation. To create a special fund for payments under life insurance contracts. Probably, it will be formed at the expense of deductions of all participants of the market. The goal is to increase confidence in the still unpopular way of saving money in the country.

The task is not easy. Until now, companies involved in the Russian market of life-saving life insurance, could not boast of any outstanding successes in terms of placement of their clients' funds. The toolkit, which is defined by the legislation for this is sufficiently narrow, and the qualification of managers leaves much to be desired.

Sberbank, meanwhile, is preparing to implement an aggressive strategy of seizing the market. For these purposes, an insurance company has already been bought, and the audience that the giant wants to be interested in with his new product should have an income of 60,000 rubles in the regions and 100,000 rubles in the capital.

The purchase of an agent in the insurance market for the whole of this market is even symbolic in some ways - Sberbank acquired a Russian subsidiary of Allianz, the German holding company, Alliance Life. At the largest insurance company in Europe, the market is in its infancy, it is not more than 1% of the total insurance in Russia, whereas in the West this share can reach 60-70%. The business of life insurance in our country is clearly not set, and it, as already Many of her colleagues left Russia. The main problems in this market are two, and both are related to the issue of trust. First, in our country it is generally not accepted to trust money for long terms. And secondly, the world insurance market , above all life, showed its unreliability during the past financial crisis, without the support of the state, even such a "monster" as AIG would have collapsed.

There are also significant doubts that the profitability of accumulative investment insurance, which actually is life insurance, will exceed the level of inflation.

Investments of funds collected under these agreements are conducted under similar rules, as management, for example, pension savings. Meanwhile, private managers of the funded part of the pension received a result in 2011, much worse than the state VEB, and it also failed to outrun the rate of depreciation of money. That is, to entrust insurance savings to people virtually no one.

In other words, in the eyes of the population, banal bank deposits will still look much more preferable than the proposals of management companies. They are concluded for a shorter period and give in our country a higher or at least more stable yield.

So far, the investment strategy of Sberbank in the insurance market is unclear, but there is already information that the credit organization is preparing some legislative initiatives that should help it (and all other companies too) to better allocate the funds of citizens who bought policies. There is no doubt that other participants of the life insurance market will soon be built behind such a "locomotive", if, of course, Sberbank manages to "untwist" this service. While the market is in a completely embryonic state, it is not more than 1% of all insurance in Russia, whereas in the West this share can reach 60-70%.

The financial giant, in addition to purely technological tasks, will have to solve a purely psychological problem: in Russia insurance is perceived by the population as an inevitable evil. It is for this reason that it can be assumed that big money will not arrive there in a very short time, therefore, Sberbank's insurance company will operate with amounts that are insufficient to create a balanced and efficient investment portfolio.

Because the portal MoneyVector advises consumers so far to look at the new product, wait at least a year or two to see what profitability can provide managers of the Savings Bank. And if it turns out to be at the level of the deposit rate or even lower, wait for the growth of professional qualification of the employees of the insurance company that are engaged in investments.

In addition, do not forget that in investment insurance to you no one can promise anything, that is, profits may not be at all - in the financial world this often happens. There may even be a loss, from this, too, someone is not insured. In other words, it costs ten times to think before giving in to the entreaties of managers of the Savings Bank.