Press about insurance, insurance companies and the insurance market. Comparison of life insurance and bank deposit

It is a specific form of long-term savings of funds. It can be used as an independent type of life insurance, or be part of mixed life insurance.

Notes

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SURVIVAL, I, Wed. (official). The time that remains to live until death, as well as the time that remains to live somewhere else. Insurance on the village. Ozhegov's Explanatory Dictionary. S.I. Ozhegov, N.Yu. Shvedova. 1949 1992 … Ozhegov's Explanatory Dictionary

Policy conditions for the insurance program “Survival of the Insured until loss of permanent employment for reasons beyond his control.”

1. General Provisions.

1.1. The insured under the insurance program “Survival of the Insured until the loss of permanent employment for reasons beyond his control” can be a citizen of the Russian Federation who meets the following requirements in total:

1.1.1. the age of the Insured is not less than 20 years and not more than 55 years for women and 60 years for men inclusive on the start date of insurance;

1.1.2. on the start date of the insurance period, the Insured must not have received notice of dismissal from the employer;

1.1.3. The insured is recognized as a person with a permanent job (permanent source of income) if he is in an employment relationship with the employer on the basis of an employment contract (except for an employment contract with an individual private entrepreneur), concluded for an indefinite period and providing for full-time employment and the Insured receives remuneration for his work in the form of a monthly salary, and is not temporarily disabled due to pregnancy and childbirth, and is not on parental leave;

1.1.4. As of the start date of the insurance period and during the insurance period, the Insured is not an individual private entrepreneur, a shareholder (participant) of the Insured's employer, a close relative of the employer's manager (spouse, parents, children, adoptive parents, adopted children, siblings, grandfather, grandmother, grandchildren), temporary, seasonal workers serving in an industry that involves a seasonal nature of work.

1.2. If, after the start of the insurance period, it is established that a person was accepted for insurance who does not satisfy one of the above categories, i.e., when concluding the Insurance Agreement in relation to the specified Insured, the Policyholder informed the Insurer of false circumstances that do not satisfy those listed in clause 1.1. conditions, and these circumstances were identified after the start of the insurance period for the given Insured, then the Insurer has the right to demand that such Agreement in relation to the said Insured is declared invalid and the consequences provided for by the current legislation of the Russian Federation are applied. The event defined in clause 2.1. of the policy conditions, and what happened to the above persons will not constitute an insured event and, accordingly, the Insurer will not make insurance payments for the specified event.

1.3. The recipient of the insurance payment (Beneficiary) under this program is the Insured.

2. Insured event. Insurance period.

2.1. An insured event under this program is the loss of a permanent source of income by the Insured as a result of termination of an employment contract at the initiative of the employer (dismissal of the Insured) on the grounds provided for in clause 1 of part 1 of Art. 81 of the Labor Code of the Russian Federation (hereinafter referred to as the Labor Code of the Russian Federation) and clause 2 of part 1 of Art. 81 of the Labor Code of the Russian Federation (reduction in the number or staff of an organization’s employees or liquidation of an organization).

2.2. The event specified in clause 2.1. Policy conditions are recognized as an insured event if the following conditions are met:

2.2.1. the event occurred during the insurance period established for a specific Insured (clause 2.3 of the Policy Conditions);

2.2.2. The insurer has received documents confirming the fact of the occurrence of the insured event and the circumstances of this occurrence;

2.2.3. the occurrence of an event is not an exception to insurance coverage (Section 3 of the Policy Conditions);

2.3. The insurance period for a specific Insured is indicated in the List of Insured and is equal to the term of the Loan Agreement. In this case, the Insurance Agreement in relation to a specific Insured is terminated upon reaching the age of 55 years for women and 60 years for men.

3. Exclusions from insurance coverage

3.1. The insured under the insurance program “Survival of the Insured until the loss of permanent employment for reasons beyond his control” can be a citizen of the Russian Federation who meets the following requirements in total:

3.1.1. the age of the Insured is not less than 20 years and not more than 55 years for women and 60 years for men inclusive on the date of expiration of the insurance period;

3.1.2 on the start date of the insurance period, the Insured must not have received notice of dismissal from the employer;

3.1.3. The insured is recognized as a person with a permanent job (permanent source of income) if he is in an employment relationship with the employer on the basis of an employment contract (except for an employment contract with an individual private entrepreneur), concluded for an indefinite period and providing for full-time employment and the Insured receives remuneration for his work in the form of a monthly salary, and is not temporarily disabled due to pregnancy and childbirth, and is not on parental leave;

3.1.4. On the start date of the insurance period and during the insurance period, the Insured is not an individual private entrepreneur, a shareholder (participant) of the Insured's employer, a close relative of the employer (spouse, parents, children, adoptive parents, adopted children, siblings, grandparents , grandchildren), temporary, seasonal workers serving in an industry that involves a seasonal nature of work.

3.2. Events that occur in connection with the following circumstances are not insured events:

3.2.1. The insured did not have a permanent job during the last 9 (nine) months before the date of the insured event, including less than 6 (six) months at the last place of work;

3.2.2. on the start date of the insurance period, the Insured was notified by the employer about the reduction in the number or staff of the organization’s employees or the liquidation of the organization;

3.3.3. the employment contract was terminated within 60 (sixty) days from the date of commencement of the insurance period of the individual Insured;

3.3.4. dismissal of the Insured on the grounds provided for in clause 1, part 1, art. 81 of the Labor Code of the Russian Federation and clause 2, part 1, art. 81 of the Labor Code of the Russian Federation, but in violation of the procedure for dismissal established by the Labor Code of the Russian Federation on the specified grounds (without prior notice from the employer).

4. Sums insured. Insurance premium.

4.1. the insured amount in relation to a specific Insured is indicated in the list and is equal to the loan amount, including the commission for connecting to the insurance program (commission paid by the Client to the Bank for the collection, processing and technical transfer of information about the Client in connection with the conclusion of an Insurance Agreement in relation to the Client under the “Survival” program The insured until he lost his permanent job for reasons beyond his control")

4.2. The insurance premium is calculated individually for each Insured using the formula:

sum insured *insurance Tariff % * number of months of the loan term.

4.3. In this case, an incomplete month of the loan term, which is less than 15 calendar days, is not taken into account for the purposes of calculating the insurance premium, and 15 or more than 15 calendar days are considered as a full month.

5. The procedure for calculating insurance benefits.

5.1. Upon the occurrence of an insured event associated with the occurrence of any of the events specified in clause 2.1. Policy conditions, the insurance payment is made by the Insurer in the amount of 1/30 (one thirtieth) of the monthly payment of the Insured on the loan in accordance with the payment schedule under the Loan Agreement for each day of the period of payment of unemployment benefits by the state employment service, but not more than 12 (twelve) months continuously and no more than 50,000 (fifty thousand) rubles per month.

5.2. The total duration of the period of insurance payments under this program during the entire insurance period cannot exceed 18 (eighteen) months.

5.3. The period of insurance payments under this program terminates in the event that the state employment service stops paying unemployment benefits or with the period of insurance under this program, whichever date is earlier.

6. The procedure for making insurance payments.

6.1. The Insured is obliged to inform the Insurer about the occurrence of an event that has signs of an insured event no later than 60 (Sixty) days after this event or from the moment the circumstances preventing compliance with this period are eliminated. The message is considered made if, within the specified period, the Insured submits to the Insurer a message about the occurrence of such an event in free form.

6.2. When applying for insurance payment, the Insurer must be presented with the following documents (this list may be shortened at the discretion of the Insurer):

Application for insurance payment in the form established by the Insurer, indicating the full bank details of the Beneficiary;

Copy of the Beneficiary's identity document

A copy of the agreement for the provision of a consumer loan or the agreement for the provision of a loan for urgent needs or the agreement for the provision of a loan for the purchase of a Vehicle, signed by the Insured together with the relevant payment schedules;

The original or a copy of the Insured's work book, certified by a notary, with a record confirming the dismissal of the Insured on the grounds provided for in clause 1, part 1 of Art. 81 of the Labor Code of the Russian Federation and clause 2, part 1, art. 81 Labor Code of the Russian Federation;

Original certificate of income of the Insured for the last 12 months before the date of dismissal in form 2-NDFL or a detailed extract from the Insured’s salary account confirming the amount of income from a permanent place of work for the last 12 months;

The original or a certified by the employer or a notarized copy of the employer’s notice from the Insured’s last permanent place of work about the intention to terminate the employment contract with the Insured, with a note that the Insured has received this notice;

A certificate from the state employment service confirming that the Insured is registered there;

A bank statement from the Insured's account confirming the transfer of unemployment benefits to him by the state employment service;

A document from the state employment service confirming the period for which unemployment benefits were paid;

Other documents upon request of the Insurer.

Each subsequent insurance payment under this program is made subject to the provision by the Insured/Beneficiary of the next bank statement from the Insured’s account confirming the transfer of unemployment benefits to him by the state employment service and a document from the state employment service confirming the period for which unemployment benefits were paid.

All documents provided for in this Section and provided to the Insurer in connection with insurance payments must be drawn up in Russian. If the documents provided to the Insurer are issued on the territory of a foreign state, they must have an apostille (if applicable) and/or a notarized translation.

In case of provision of documents that cannot be read by the Insurer due to the handwriting characteristics of an employee of the competent authority, as well as due to violation of the integrity of the document (torn, crumpled, erased, etc.), the Insurer has the right to postpone the decision on payment until documents of adequate quality are provided . In this case, the Insurer is obliged to send the Insured a written notice within 5 (five) working days about the reason for the delay in making a decision on insurance payment, indicating the document that does not meet the Insurer’s requirements.

6.3. If any document from the list of documents specified in clause 6.2. Policy conditions cannot be provided due to the refusal of the state employment service or other competent authority. The Insurer requests the missing documents independently after receiving information from the Insured/his representatives/Bank about: the name of the institution, postal address, telephone number, full name and position of the person whose name must be sent to the request. The refusal of the Beneficiary/Insured by the state employment service or other competent authority to provide the requested documents must be documented. In this case, the Insurer is obliged to send the Insured a written notice of the impossibility of making a decision on insurance payment, indicating the reason for the refusal.

6.4. If any of the insured events provided for by this program occurs, the insurance payment is made by the Insurer by transferring funds to the account of the Insured after receiving the documents specified in clause 6.2. Policy conditions, and receiving responses to requests sent by the Insurer in accordance with clause 6.3 of the Policy conditions, within 14 (Fourteen) business days from the date the Insurer receives all necessary documents. The obligation to transfer the insurance payment is considered fulfilled from the date of debiting funds from the Insurer's current account.

Life insurance is a type of personal insurance in which the insured amount is paid if the insured survives to a certain age. This type of insurance is tempting; for example, if you reach retirement, you have received insurance and have something to celebrate. Survival insurance is positively different from other types of insurance, in which insurance can be obtained only after such negative events as a fracture, an accident, a natural disaster, etc. You can even say that this is a legal way to make money from an insurance company. Why is life insurance for survival so undeveloped in Russia?

Let's compare life insurance for survival and bank deposit

We will compare life insurance “Life Line” from the insurance company OJSC “VSK” and the bank deposit “Replenishable deposit of Sberbank of Russia” from Sberbank of Russia. Why were “Life Line” and “Replenishable deposit of Sberbank of Russia” chosen? Firstly, VSK and Sberbank of Russia are serious organizations that will definitely exist “tomorrow”; secondly, their offers are the most interesting, and they are also easy to find.

To simplify the calculations, let’s take the example given on the VSK website: “A 32-year-old woman decided to save money for 10 years. At the same time, wanting to free her relatives from financial problems in the event of her death, she insured her life for survival with the return of contributions in the event of death. The annual fee was $1000. If you survive until the end of the contract, VSK Insurance House will pay the insured amount, which, with a yield of 8%, will reach $13,331.06. If death occurs during the term of the agreement, VSK will immediately return all paid contributions to the beneficiary.” We will make similar contributions to the deposit in Sberbank, the first five years the interest rate will be 3% per annum, and then 3.35% per annum; all interest received will also be placed on deposit. In 10 years, Sberbank will pay $11,995.

conclusions

Life insurance for survival is more profitable if only the insured person survives until the end of the contract, since otherwise the insurance company returns only the premiums paid, it sounds gloomy, which is probably why survival insurance is not popular in Russia, or maybe we are simply not ready to think about so far into the future.

In my opinion, a bank deposit is the golden mean between reliability and profitability, since loss of interest can occur only in one year, for example, if we get tired of saving and decide to go to Turkey for a couple of months. In addition, all citizens’ deposits are insured by the state, and if the bank ceases to exist, the money can be returned, which cannot be said about the insurance company.

Survival insurance is a type of personal insurance that provides for the payment of the insured amount upon reaching a certain insurance period, reaching a certain age, or upon the occurrence of an event specified in the insurance contract. An example of such insurance is education insurance, which is quite popular in the West, when parents provide their child with payment for educational expenses. However, in its pure form, insurance for survival and up to a certain period is rare. As a rule, both of these types are combined with death insurance, i.e. included in mixed insurance. There are the following types of life insurance:
1) insurance for children;
2) insurance for marriage;
3) insurance for children's boarding schools;
4) insurance until a certain period.
Child insurance allows you to create certain savings in the amount of the insured amount by the time the child reaches adulthood, and also provides financial assistance to the policyholder in the event of adverse events related to the life and health of the insured child. Contracts are concluded with the parents and relatives of the child (insurers), regardless of their age and health status, in favor of a child whose age does not exceed 15 years. The insurance period is determined as the difference between 18 years and the age of the child on the day the contract is concluded. The age of the insured is determined in full years; for this purpose, an incomplete year is rounded up to a full year (up), the age of children under 6 months is rounded up to zero. Several contracts may be concluded in favor of one child by one or more policyholders. During the first 6 months, there is a restriction on the payment of insurance amounts if death occurs as a result of a congenital or severe chronic disease. During the entire period, there is a limitation of insurance liability in cases of death of the insured due to the commission of an intentional crime or illegal actions. The contract may be concluded with the condition of double or triple payment of the insured amount upon the occurrence of insured events related to the child’s health. If for any reason the policyholder cannot continue to pay premiums under the current contract, or in the event of the death of the policyholder, any other relative of the child may assume his responsibilities. If, after the death of the policyholder, none of the child’s relatives has assumed the responsibilities of the policyholder, then, at the request of the parents or guardian (trustee) of the insured child, a deposit is opened in a savings bank and 90% of the premiums paid are transferred to the child’s name. The policyholder has the right to terminate the insurance contract early and receive a portion of the paid premiums in the amount of the redemption amount, if the contract is paid for in premiums and was valid for at least 6 months. Failure to pay premiums for 3 consecutive calendar months entails early termination of the insurance contract with all the ensuing consequences. In the event of the death of the insured during the period of validity of the insurance contract, the policyholder is paid an insurance benefit in the amount of 30% of the insured amount and at the same time all paid contributions are returned without deductions.
Insurance until a certain period of time provides for payment of the insured amount in full after a certain period of time, regardless of whether the policyholder survives until this period.
Wedding insurance ensures the creation of savings by the day the insured person gets married or reaches the age of 21, as well as financial assistance to the policyholder in the event of adverse events related to the health of the insured child. Contracts are concluded for children under 15 years of age with parents (adoptive parents) and other relatives of the child. The age of the policyholder can be within the range of 18-72 years, so that on the day of expiration of the insurance period the policyholder would be no more than 75 years old. Several insurance contracts may be concluded in favor of one child by one or different persons (policyholders).
Insurance premiums are set in the same manner as for children's insurance. The death of the policyholder from any cause is an insured event, with the exception of special cases. In connection with the death of the policyholder, the payment of premiums ceases, and the insurance contract remains in force (unless there are grounds for its termination for exceptional reasons), and the child continues to be insured until the end of the insurance period. Upon expiration of the insurance period, the insured has the right to receive the insurance amount provided that he enters into a registered marriage or reaches the age of 21 years. When paying the insured amount for each month that has elapsed from the date of expiration of the insurance period before submitting an application for payment of the insured amount, an additional 0.25% of the insured amount is accrued. The policyholder, within three years after the end of the insurance period, has the right to receive the insurance amount himself, if it is not paid to the person in whose favor the insurance contract was concluded.
Insurance of children's boarding schools is associated with the participation in charitable activities of enterprises and organizations, individual citizens who care about the material well-being of children who, due to circumstances, are deprived of normal conditions of upbringing in the family. Acting as insurers, legal entities and individuals can enter into an insurance agreement with an insurance organization in favor of children aged 1 to 15 years, if they are being raised in an orphanage or boarding school, in a children's home and are orphans or left without for various reasons parental care. The insurance period, as for regular children's insurance, is calculated as the difference between 18 years and the age of the child at the time of concluding the insurance contract. In the insurance application, the policyholder indicates the last name, first name and patronymic of the child (or several children) in whose favor the contract is concluded. If the child has parents, then they have no rights under this agreement. The insured child is paid the insurance amount specified in the insurance contract if he survives until the end of the insurance period, i.e. up to 18 years of age. To do this, he must present his passport and insurance certificate to the insurance company.
During the validity period of the contract, the child is considered insured against an accident resulting in disability. Disability benefits are issued to the insured along with payment of the insurance amount for survival. The amount of the benefit is: for the 1st disability group - 200% of the insured amount, for the 11th - 120, for the 111th - 60%. If the death of the insured occurs during the insurance period, the contract is terminated, and the organization transfers the paid insurance premium to the account of the local branch of the Children's Fund. When the policyholder is a citizen, he can renew the contract for another child.
Payment for all of the above types of insurance is made subject to the validity of the life insurance contract by the day of survival, i.e. full payment of the relevant agreement in regular or one-time installments. The recipient of the insurance amount in connection with the arrival of the day of survival is only the policyholder or the insured, regardless of the fact that, under the terms of insurance, another person may pay the next installments. During the period of validity of the contract, there is a gradual accumulation of the stipulated insured amount, which reaches its full amount by the day of survival.

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Life insurance involves - by definition - two initial risks: survival (until some age or event) and death, which is considered either as an alternative to survival, or as an additional risk factor (mixed type of insurance - for survival and in case of death at the same time).

The basic characteristics of standard types of life insurance are rates (net and gross) and premium reserves.

The calculation of net rates for life insurance (as well as pensions) is based on two initial models that characterize the mathematical equality of the financial obligations of policyholders and the insurer when concluding contracts for survival and in the event of death. The left side of these models shows all probable and discounted premiums of the policyholder, and the right side shows all probable and discounted payments of the insurer. The policyholder pays his money if he survives until each subsequent year, and the insurer pays either when the policyholder survives or in the event of his death. Each payment is correlated with the insurance amount accepted (conditionally) for the Unit (i.e. for 1 rub., 1 dollar, etc.).

The probabilistic values of the modern cost of mutual payments between the policyholder and the insurer for life insurance are determined from the equality:

1+1pxv…+…n-2pxvn-2+n-1pxvn-1=1pxv+2pxv2…+…n-1pxvn-1+npxvn (1)

where is the discount factor;

px is the probability of survival of the policyholder and the corresponding probability of paying money for each of the counterparties in the amount of 1 monetary unit (hereinafter - MU);

P- the number of years the policyholder lives (from 0 to 100 years).

The probabilistic values of the modern cost of mutual payments between the policyholder and the insurer for death insurance are determined from the equality:

1+1pxv+2pxv2+…+n-2pxvn-1=qxv+1|qxv2+…+n-2|qxvn-1+n-1|qxnn (2)

where the right side uses the probabilities of death of the policyholder and the corresponding probabilities of payments by the insurer in the event of the death of the policyholder.

Based on these equalities, tariff rates for death insurance are calculated.

Calculation of payments for life insurance

Let us determine the size of the policyholder’s one-time premium at the age of x years, if upon survival to x+ P years, he must receive 1 unit from the insurer. Let us denote the size of this premium by the symbol inf. Since this premium is introduced unconditionally, the corresponding probability is equal to one. Therefore, if the present value of the premium is equal to inf. then the corresponding probable cost of payment by the insurer is determined as vn*npx, where , l- number of aged people X years. lx+n- number of persons and age X+ P years. From here --. Multiplying this ratio by the value , we obtain a modified equality, which is transformed into the formula

where are the indicators Dx, Dx+n- commutation numbers (Tables 1 and 2).

Table 1. Table of commutation numbers

(fragment, for the number of living persons lx)

Age, x years			Dx=lxvx*

Table 2. Table of commutation numbers

(fragment, for the number of deceased persons dx)

Age, x years			Cx = dx vx+1*

The table data is compiled at an interest rate i= 3%.

For example, To a 40-year-old policyholder, according to the terms of the contract, the insurer is obliged to pay the insured amount only if he survives to 45 years. At a rate of 3%, the lump sum premium that the insured must pay upon concluding the contract is equal to:

The number 0.8455 is the tariff rate for persons aged 40 years who are insured for survival to 45 years. Its value is also determined using commutation numbers (Table 1):

If the insured amount under this contract was 300 rubles, then the policyholder must pay 254 rubles. (300 0.8455).

If the policyholder makes a one-time contribution, the insurer can pay 1 unit each. annually for the entire life of the insured from the moment the contract is concluded (or - as a pension - after some time). In this case, the size of the one-time premium must correspond to the modern value of all probable payments the insurer makes at the end of the period (post-numerando):

Where Nx+1= Dx+1 + Dx+2 + Dx+з+… - commutation number. It is obtained as a result of the accumulation of values Dx from bottom to top of the mortality table. Nx values for some ages are given in Table. 1.

For example, The policyholder is 40 years old. then the insurer can pay for life but 1 unit. at the end of each year, provided that the one-time contribution is:

When lifelong payments are deferred for n years and paid by the insurer at the end of each year (postnumerando), the size of the lump sum contribution is determined in accordance with the equality:

For example: Let’s assume that the insurer agrees to pay the policyholder 1 unit. for life not from the date of payment of the premium, but after five years.

In this case, the one-time contribution of the policyholder whose age is 40 years old should be:

Under an insurance contract, the policyholder can pay premiums not at once, but periodically. To ensure that the equality of liability of the two parties under the contract does not change, the current cost of probable payments by the policyholder is reduced to a lump sum contribution.

The amount of the periodic contribution is determined by the formula

where αх – annual payments of the policyholder

The numerator and denominator of this formula are modified depending on the conditions for payment of the insurance amount by the insurer.

For example, The net rate for policyholders whose age is 40 years old and who have entered into an agreement to live up to 45 years is determined as follows. The size of the policyholder's one-time contribution, which is replaced by periodic payments, is equal to Since, according to the terms of the contract, it is assumed that the policyholder will pay until the age of x + n years, then when payments are made at the beginning of each period (prenumerando), their modern value is the difference between the immediate life annuity and the deferred annuity prenumerando:

Hence the size of the annual net premium is equal to:

According to the example

If a life insurance contract is concluded for the amount of CU 300, then the annual premium will be CU 54.

Calculation of payments for death insurance

The net rate for death insurance is also determined using tables of commutation numbers. Let's look at life and term death insurance. For a person whose age is x years, the probability is moderate, within the next year of life is equal to, and the probability of dying within (n+1) years is equal to:

With life insurance in case of death, the policyholder's lump sum contribution must be equal to the sum of all probable values of the insurer's payments at their modern value. Formula (7):

where Mx and Dx are determined from the table of switching numbers (Tables 1 and 2).

For example, The net premium for life insurance in case of death of persons aged 40 years is equal to If the contract in the event of death is concluded in the amount of CU 1,000, then the one-time net premium will be CU 370. Whenever the policyholder dies, the insurer will pay CU 1,000.

In order to prevent persons with poor health from entering into the contract (i.e., increased mortality in the first years after the conclusion of the contract), the payment of insurance amounts in the event of death of the insured can be postponed for any number of years from the date of conclusion of the contract. Due to this, the countdown of the commutation number L/ is also postponed for the duration of the installment plan, and the calculation of the one-time net premium is made according to the formula

For life insurance in case of death, the annual net premium is equal to:

(9)