Today, many are thinking about how to save and increase their savings. The usual bank deposit barely covers inflation. Independent investment requires certain knowledge, while there is a high risk of losing all the money altogether. Catching the trend, insurers developed New Product- investment life insurance (LIS), which is, in fact, an investment instrument in an insurance shell. Like any financial and insurance product, it has its advantages, but it is not without its drawbacks.
We will talk about what ILI is, how it works, and in what cases such an insurance program will be beneficial for a Russian, in this review.
In the previously considered (NSZH), the main goal of the insured is to accumulate a certain amount over a certain number of years and ensure financial protection families in case of loss of a breadwinner. The purpose of investment insurance is to increase the funds (already accumulated by the client) by analogy with a bank deposit, while providing financial protection for the insured's relatives in case of unforeseen circumstances (the death of the insured).
Only here there is a small nuance - ILI and a classic deposit are completely different things, because unlike a deposit where you are guaranteed income in the form of accrual of interest specified in the deposit agreement, ILI does not guarantee you any income.
In general, any actions related to “investment” involve risk, and the more income you are promised, the greater the risk of not receiving it (and in some cases even losing the invested funds). Therefore, as a definition of ILI, I would like to take a quote from the site Central Bank The Russian Federation, which, by the way, is the regulator of the insurance industry of the Russian Federation.
Investment insurance life is an investment vehicle with the potential to earn a potentially high return if the market goes up and a guarantee of a return on the deposit if the market goes down. A feature of the program is immediate compensation in the event of the death of the insured person.
That is, you make an insurance premium, and you can expect to receive income significantly higher than the market average rate on deposits due to the fact that the insurer will invest (invest) your funds in certain assets (funds, stocks, bonds, etc. ). But if the investment brings the insurer not income, but losses, then you will not go into the red - you are guaranteed to get back your money invested as a contribution. Well, an additional “bonus” to all this is life insurance for various risks.
Since investment life insurance is a financial and insurance product, it makes sense to consider its financial and insurance components separately.
The client's contribution is divided by the company into two unequal parts: the Guarantee Fund (GF) and investment fund(IF).
The guarantee fund makes up the majority and is used by the insurer to invest in fixed income instruments (for example, deposits, federal loan bonds). It is at the expense of the GF that the company can guarantee the client a 100% return on investment in any situation on the market. GF is also called an insurance reserve.
The investment fund is used to invest in highly profitable, but also high-risk instruments (stocks or bonds of Russian and foreign companies, futures, options). If the market grows, it can give a good income, calculated in tens of percent per annum! As insurers like to point out on their official websites, the program's profitability is unlimited, which makes some customers swallow their saliva, wondering what profits they could get.
The fact is that companies offer a choice to the client (hereinafter the quote of Sberbank Life Insurance LLC in the description of the SmartPolis product) - “proven risk fund investment strategies that tend to grow in the long term” (we will talk about strategies in more detail a little lower). And for each strategy, the profitability received for a certain period in the past is sometimes indicated. This is usually a nice figure, but pay attention to the fact that income received in the past does not guarantee its receipt in the future - the market is unpredictable and a sharp and prolonged fall can follow an increase.
The ratio of GF and IF depends on the term of the contract. The longer it is, the more part is involved in investments, which means there is a possibility of receiving a higher income.
In any case, you (or your relatives) will receive back an amount equal to at least your contribution, or an amount increased by investment income.
ILI is based on the classic risks of life insurance - the survival of the insured until the expiration of the contract and death for any reason. This is basic or mixed insurance (“naked” - in professional slang for insurers).
If the insured successfully survives until the end of the term indicated in the contract, he receives 100% of the invested funds plus income from investments - this is how the “survival” risk works. The same happens if he passes away before the contract ends, only the beneficiary (or several beneficiaries) appointed by him receives the money - this is already the risk of "death of the insured for any reason."
The insurance component provides financial protection to the family (relatives) of the insured against his sudden death. When connecting additional options, it also provides protection for the insured against temporary disability.
Below you can see an example of calculating ILI (insurance product Capital from the company PPF Life Insurance LLC), taken from an open source (https://avdenin.ru/invest/investicionnoe-strakhovanie-zhizni.html).
As part of this calculation, the client insured under the main program (mixed insurance) and under the additional one, where additional risks are taken into account (see below). Guaranteed payouts are listed on the first page, while expected payouts (with luck and income earned as a result of investments with an expected return of 13.7%) - you can see on the second page. There is also a guarantee and the expected amount of the redemption amount.
This example will help us a lot in the subsequent analysis of the topic.
And what about insurance? - you ask. Yes, many companies in a purely investment policy have practically no risk, except for the basic one. But nothing stops you from buying in addition insurance coverage from an accident (NS). Typically, companies insure against death and total permanent disability as a result of accidents. The risk component is calculated and paid additionally, and subsequently is not returned.
Some nuances of ILI with a risky part:
For a number of large insurers (VSK-Liniya Zhizni, Ingosstrakh Zhizn, PPF Insurance and others), the risk part is included in the program by default, no additional contributions are required.
Let's look at the above example: the policy includes accident insurance with sums insured of 1,000,000 rubles for each risk (death from NS and disability as a result of NS).
In case of death from NA in the 5th year of the contract, the calculation will be as follows:
Payment to the beneficiary: 1,000,000 + 1,000,000 + 646,072 = 2,646,072 rubles. The agreement is terminated.
If the insured is assigned a disability group as a result of an accident (1 or 2 - depending on the conditions of insurance), he receives only the sum insured at risk - 1,000,000 rubles. The money earned on investments is not paid to him, and the contract continues to be valid until its expiration, when the guaranteed + investment part is paid to the client under the Survival risk.
The inclusion of additional risks in the policy is equally good for both the insurer (the opportunity to earn extra money), and for the insured (all risks are taken into account in one product) and the beneficiary under the contract (increased amount of payment for the risk of death as a result of accident).
Now let's take a closer look at the intricacies of investing through insurance. Insurers offer a wide range of financial instruments, calling them strategies. The most popular and effective are investments in the following assets (or stock indices):
The insured can choose the sector of the economy where his money will be invested. He may be offered shares (or bonds) of companies in the oil and gas, financial, consumer, telecommunications, electric power or metallurgy sectors. For example, investments in pharmaceuticals and the consumer sector in Europe and the United States are considered promising.
Companies usually choose the best by default financial instruments based on the risk-return principle. The insurer is no less interested in the growth of investment income than the client.
Here it is appropriate to talk about such a concept as the participation rate. It shows what part of the profit the insurer shares with the client. This may be 50 - 80% of the income received, or maybe 150%. Therefore, when concluding a contract, be sure to be interested in this parameter.
One of the most important parameters to pay attention to is participation rate(KU). The participation ratio shows what part of the return on the growth of an asset (stocks, bonds, etc.) the client can receive at the end of the investment period.
The client's income can be represented as the following formula:
Income \u003d KU * Growth of the asset;
KU is usually given as a percentage, and its value depends on the chosen investment strategy. If KU = 100%, then with the growth of the asset used as part of the investment strategy, the client will receive all 100% of the return on growth. If KU = 150%, then the client already receives 150% of the income received from the growth of the asset.
The value of the participation ratio in itself means little - it must be considered in conjunction with the investment strategy (ie, with the underlying asset in which the client's funds were invested).
Usually, the higher the CG, the lower the profit potential of the asset, and vice versa, the value of CG is lower for assets with high profit potential. So the company strives to equalize the expected return on investment strategies. Therefore, you should not "grab" a high CG - pay increased attention to the asset within the framework of your chosen strategy. If it is promising (at least it has shown good returns in the past), then it makes sense to choose it, even if with a small CG.
KU is calculated at the time of connection to a certain strategy and, depending on the state of the market, it can take different values at different times.
The client must clearly understand that the return on investment is never guaranteed. If there is an increase in demand for stocks or gold, you make a profit. If assets become cheaper, your income is reduced or none at all. To track investments, the client is offered to open a personal account on the insurer's website, where the client can track financial indicators under contract.
Initially, when investing in investment insurance, you trust professional traders who are on the staff of the insurance company. You will not have complete transparency in the use of strategies, and you will have to come to terms with this. However, the information that you receive through your personal account allows you to track the effectiveness of investments in terms of the final result for a certain period.
If it is lower than expected, the investment strategy can be changed (fund change). The possibility and frequency of its change should be indicated in the contract.
You can also add an additional investment income(by increasing the size of the guarantee fund by the amount of the current amount of investment income), receive a payment of income received or make an additional contribution.
Specify whether it is possible to distribute the amount intended for investment among several strategies. This will allow you to diversify your portfolio.
1. An ILI contract can be opened for a period of 3 years (in some companies from 5 years) to 10 years.
2. The contribution is paid in a single payment at the time of the conclusion of the contract or in installments (if possible).
3. The lower threshold for entering the ILI, as a rule, is at least 30 - 50 thousand rubles.
4. The age of the insured is from 18 years to 80 years at the time of conclusion of the insurance contract.
5. The contract comes into effect from the moment of making the first (or only) installment.
6. If the conditions of the insurer allow, then the insurance program may be tied to foreign currency, while payment of the contribution (insurance premium) and insurance payment is determined at the rate of the Central Bank of the Russian Federation.
Any contract may be terminated early. But! It is worth investing in ILI only if you are sure that you will not need them in the coming years. This is due to the losses that you will incur in case of early termination. In insurance, there is a concept - the redemption amount. It applies to any investment or savings policy. Terminating the contract in a year or two, you will receive at best 50% of what you have invested. The closer to the end of the term the termination occurs, the greater the amount you receive.
As an appendix to the contract, there should be a table reflecting the estimated expectations from investments and the amount of the redemption amount. According to it, the insured sees how much money he is expected to receive in case of early termination of the contract. Calculation example for termination in the fifth year of a ten-year contract (see above):
Expected payout: 690,000 + 646,072 = 1,336,072 rubles.
Early termination of the ILI contract is extremely unprofitable- count on investing in it before the last day of its validity!
Insurance companies work closely with banks. The latter are extremely interested in promoting ILI. As agents of insurers, they receive remuneration to compensate for the decline in demand for some of their products. And then, the money received under the agreements concluded with the help of the bank remains in it.
Numerous reviews of those who purchased insurance at the bank indicate that managers literally impose ILI without revealing many details and nuances of the product.
This applies to both the terms of the contract and the choice of investment strategy. Since a lot of money is invested in insurance, you should not succumb to persuasion and immediately conclude an agreement. Take a time out, get to know such a complex product on the website of insurance companies - after all, it is to her, and not to the bank, that you entrust your money. And don't be afraid to ask questions if you don't understand something.
Experts recommend concluding a contract at the office of the insurer, where the client can be given competent advice and help to choose the product he needs. Bank employees often do not understand their products, but, nevertheless, they impose such complex structural products, operating with stereotyped phrases in an industry that is not their core business.
Before signing a contract and investing a lot of money, you need to study the section “Exclusions from insurance coverage”. For all companies, death that occurred as a result of cases listed in the Civil Code of the Russian Federation (military operations, popular unrest, etc.) is not considered an insured event.
Additionally, each company minimizes its risks by supplementing the list of exclusions with death due to serious illnesses that the insured had at the time of conclusion of the contract. In this case, if the insured dies before the expiration of the insurance, the beneficiary receives only the redemption amount and investment income, if any.
When concluding an insurance contract, the insurer has the right to assess insurance risks and at the same time may request various information from the client about him: information about dispensary registration, past or current diagnoses, information about profession and hobbies, etc. This may include a medical examination.
If it is established that the client has provided inaccurate or knowingly false information about himself, then this may be fraught with the recognition of the insurance contract as invalid - the insured may lose investment income or lose insurance compensation for additional. risks. Therefore, it is better to report everything as it is when concluding a contract - this will allow the consultant to take into account all the nuances.
ILI, like any financial and insurance product, has its pros and cons. Let's sum up some results and report some more interesting information about such contracts, revealing their advantages and disadvantages.
1. Capital protection. The ILI agreement guarantees the return of 100% of the sum insured, even if the investment strategy chosen by the client turned out to be unsuccessful (due to the downturn in the market, the asset showed negative profitability results). This is an important plus, since no broker will provide you with such guarantees.
2. Receiving investment income (although not guaranteed) + simultaneous insurance coverage of the client's life(the duration of the insurance is 24 hours, the territory of insurance is the whole world). In case of surviving, the client receives his contribution along with the profit, and in case of premature death, the beneficiaries also receive an amount equal to the contribution + received investment income. The ability to insure additional risks with a small additional payment (in relation to the premium) performs the role of risk insurance and makes the product more secure and profitable.
3. The policyholder may appoint one or more beneficiaries at your discretion, and it does not have to be family members. In the event of the death of the insured, there is no need to wait 6 months to receive the money as part of the inheritance. They are paid by the insurance company at the request of the beneficiary (beneficiary). At the same time, legal heirs (if they are not among the beneficiaries) will not be able to claim this money, it is not even challenged in court.
4. Life insurance policies have a special legal status- They are not property. Therefore, they cannot be sued, sent to pay off debts, divided between spouses during a divorce. All funds will be available only to the policyholder.
5. tax benefit. By law, if the term of the contract is 5 years or more, then the insured is entitled to a tax deduction for the money invested in life insurance - 13% of the amount not exceeding 120,000 rubles. The maximum amount of the deduction is 15,600 rubles for each year. In fact, the deduction is already at least a small, but guaranteed income.
6. Favorable taxation. If the received investment income does not exceed the refinancing rate (key rate) of the Central Bank at the end of the contract, then income tax it is not taxed on personal income. If the income is higher, then personal income tax will have to be paid. In the event of the death of the insured insurance payments beneficiaries are not subject to personal income tax.
7. Since the ILI agreement is concluded on long term, then possible deterioration of your health in subsequent years of the policy will not affect the cost insurance premium (here we are talking about additional risk programs). If you each entered into a risk insurance contract, then the state of health could affect its cost or, in some cases, become the reason for refusal.
8. The client does not need to spend time learning the basics of investing and getting acquainted with various insurance products. Specialists in stock market and professional insurers. He can make an independent choice of an investment strategy, in the “line” of which his capital will work.
9. The ability to manage and monitor the program in the personal account of the insured(It is highly desirable to choose an insurer with such capabilities). The client can remotely perform the following operations: changing the fund (changing the chosen strategy), fixing additional investment income, paying additional investment income, making an additional contribution, etc.
1. Insecurity of capital in case of bankruptcy of the insurer – capital in the ILI pole is not insured by the deposit insurance agency (DIA). If the license is revoked from the insurer, the payment obligations are transferred to the reinsurer, where the ILI contracts were reinsured. In the absence of reinsurance, the bankrupt insurer must terminate the contracts and pay out the premiums received on them to the policyholders. Otherwise, clients will receive them only in the queue of creditors established by the court.
2. Unfavorable early termination of the contract(loss of funds);
3. Inability to use investment life insurance as an effective way to accumulate capital. No guaranteed return- perhaps the main disadvantage of the product. According to the chosen strategy, the insurer shifts the risks to the client. However, it is worth noting that some companies guarantee a small guaranteed income in the poles.
4. Opportunity to run into exceptions to the contract which may result in it being invalidated.
5. Connection to the contract of additional programs for risky types of insurance may increase the cost of the contract.
6. Funds invested in the insurance program will be eaten up by inflation year after year, which can only be covered by the benefit from investment income. And if it is not, then, alas.
Due to the lack of income guarantees, the investment life insurance program loses to a classic bank deposit, where your income will be known already during the execution of the deposit agreement. To have more, you need to gain knowledge and experience, and only then “climb” into investments (for example, get access to the stock exchange through a broker and buy stocks, bonds or other products on your own).
In ILI, you have the opportunity to plunge into the world of investments without knowledge, although you will still be asked to choose an investment strategy, that is, you will have to strain your gray matter a little. And at the same time, you do not risk your money, and in this the ILI policy is unique. You either get a lot, or stay with yours.
The basic insurance coverage of this product, to put it mildly, is about nothing: what is the point of insurance if the sum insured is equal to your premium, when you can insure your life much cheaper? Cumulative insurance in this regard gives much more profitable when a person pays a part of the contract amount every year, and his relatives receive the full amount, even if he passes away prematurely in the first year of the contract.
But here additional programs on risk insurance within the framework of the ILI, it is quite profitable to draw up due to large insurance payments as a result of the occurrence of risks of death or disability as a result of an accident.
As customer reviews show, investment income on real contracts in rare cases exceeds 10%, and generally loses to the average rate on deposits. Although the real reports of representatives of the insurance business show a different alignment.
Therefore, in most cases it would be more expedient to put your money on a deposit (no more than 1.4 million rubles in one bank) and insure yourself against risks in one of the many insurance companies. In addition, you can use part of your funds to invest in risky assets and try your luck on your own, at least you can withdraw your money at any time without any restrictions, and you will not have to share the income received with an insurance company (there, By the way, people don't work for free.
But if you want to take advantage of the special status of ILI policies, and, for example, legally protect your money from confiscation, arrest or division during a divorce, then this is your option.
In general, ILI may be of interest to those who have free money, and who care that they work, but have no experience of independent investment analysis. ILI is exactly the tool that makes investments risk-free (the client runs the risk of not receiving income), because the money deposited in the worst case will be fully returned to their owner, and in the best case they will bring quite tangible profits.
Greetings! In one of my recent posts, I wrote about how . If you are categorically against risk insurance, I advise you to take a closer look at accumulative life insurance.
NSZH products combine both full-fledged insurance protection, and the accumulation function, and even. In 2015 in Russia, the average accrued income under such programs was 10-14% in rubles and 3-6% in foreign currency.
Cumulative life insurance is designed for long periods: up to 20-30 years. Insurance policies allow or allow children to come of age. Along the way, you insure yourself and your loved ones in case of force majeure (at least against death from an accident).
The most important thing is to decide on the insurance company. So, endowment life insurance rating of companies and their products.
How to choose a reliable SC? The easiest way is to use a ready-made rating. I trust the Expert RA rating agency (RAEX). Ratings from Expert RA are a mandatory requirement for banks, insurers, issuers and.
According to Expert RA, only nine insurance companies have the maximum (A++) with a stable outlook in 2016. Below I will briefly talk about the most interesting programs of these insurers. By the way, neither Rosgosstrakh Zhizn nor Rosgosstrakh Zhizn have an A++ rating. VTB Insurance».
PPF Life Insurance offers six programs at once accumulative insurance life. Consider those that can be used for long-term savings.
It insures against almost all risks associated with life and health. For example: from death as a result of an accident on public transport, from bodily harm and from deadly diseases (cancer, heart attack, stroke). Insurance coverage is valid in all countries of the world.
You can insure for a period of 10 to 25 years in the amount of 400 thousand to 1 million rubles. You can make insurance premiums once a year, once every six months or once a quarter. The money in the account is indexed, and part of it is invested in reliable assets.
Forms "children's" capital by a certain date. Advantages: insurance protection for an adult (against death, disability and fatal diseases) and a child (against injuries) for the entire period, plus additional income and indexation. The program is designed for a period of 5 to 24 years. To pay the insurance premium Grace period in 60 days.
For a period of 5 to 30 years, combines long-term savings, investment income and financial protection. A good option for the formation of "pension" capital or planned large purchases (an apartment for children or Vacation home yourself).
The validity period from 5 to 30 years is designed for young and energetic people who do not want to insure "from everything in the world." And they plan to spend most of the money on savings. Under the terms of the program, the client is insured only against death. But the OPTIM package is issued as quickly as possible and without a health assessment. Additionally, you can connect insurance against disability, hospitalization and bodily injury. At the request of the client, insurance premiums are indexed.
In IC "Alliance Life" there are only two programs of accumulative life insurance: for children and for adults.
The Gift for a Child product (for 5-30 years) provides insurance protection for the parent and forms savings for the child. Insurance premiums are indexed, additional income is possible. You can open the program not only in rubles, but also in US dollars (protection against currency risks).
The Lifestyle program is a variation of the previous product, but for an adult. Combines long-term financial protection for the whole family, savings and. In addition, "Lifestyle" guarantees a return bank loan if the client is a borrower.
IC Sberbank Life Insurance offers four accumulative products.
The program is designed for 10, 15 or 20 years. At the end of the term, MetLife pays the guaranteed sum insured plus investment income, if any. The main package includes survival, natural or accidental death, total or partial disability. The cost of "Prestige+" starts from 60 rubles per day.
For the purposes of accumulation, the Raiffeisen Optimum program is more suitable than others. Includes financial protection against accidents and the creation of long-term savings.
The term of insurance starts from five years. The client can choose the amount and frequency of contributions, as well as the option. The insurance contract can be drawn up in Russian rubles, euros or US dollars. Program rate: from 2.2193% to 21.3255% of the sum insured.
Ingosstrakh-Life has six programs of life insurance. Two seemed to me the most interesting.
The product "Axiom" (from 5 to 35 years) is issued according to a simplified procedure and with minimal restrictions on the health and profession of the client. The policy guarantees the payment of the sum insured upon survival plus investment income. The payment can be a lump sum or in installments. In other words, at the time of retirement, savings can be received in one amount or in the form of monthly accruals.
At the choice of the client, insurance can be issued in rubles, US dollars or euros.
The Capital product is life insurance. From the first day of the policy, the life of the client is insured for an amount greater than the total amount of contributions for the entire term of the contract. The period for making contributions is chosen by the client himself (for example, “up to 75 years” or “until retirement”).
Insurance money is charged (in rubles, dollars or euros). Additionally, you can connect the program "Accumulation +". At any time, the client can close the policy and receive the redemption amount in his hands. In this regard, the product "Capital" resembles "flexible" Bank deposit with the possibility of replenishment and partial withdrawal of funds.
Modern life insurance programs offered by domestic companies seem completely useless to me. Well, think for yourself: you are freezing your own money for a very long time. And in the end, in the worst case, you will receive the amount of your savings, and at best, a small percentage on it. Why small? Because according to the law, insurance companies do not have the right to invest in risky assets (for example, stocks) and must form a portfolio of highly reliable securities.
Moreover, the best of them have only a tiny chance to slightly overtake inflation. Add to this the "legendary" reliability of Russian companies and you will understand why I am against such insurance. Why, then, in the West, in the image of which our companies are trying to create their products, are so popular?
If you have ever been interested in living abroad, then you know that in developed countries very high taxes. And investments under the guise of insurance (namely, this is what insurance programs type UA) is not taxed by law and, in the same Generalli, Hansard or Investor Trust, you can freely form an investment portfolio on your own. Moreover, from such instruments that are often not available through a regular broker.
Yes, the cost of servicing in the UK is noticeably more expensive than just working with a broker, but many are willing to voluntarily go for it just to be forced to regularly save money to pay for insurance. That's the whole secret!
AT Russian reality I prefer risk insurance and self-management. What life insurance policy do you have? Subscribe to updates and share links to fresh posts with friends on social networks!
We are talking about the case when an insurance company entered into a life insurance contract with an individual, under which the insured person, in addition to the right to receive insurance payment upon the occurrence of an insured event, acquired the right to receive investment income resulting from the investment by the insurer of a part of the amount contributed by the individual as an insurance premium, into underlying assets. According to the rules of insurance, additional investment income is paid upon the occurrence of an insured event as part of the insurance payment, and in the event of early termination of the insurance contract - as part of the redemption amount (paragraphs 6-7 of article 10 of the Law of the Russian Federation dated November 27, 1992 No. 4015-I " ").
The Tax Code of the Russian Federation recognizes as income an economic benefit in cash or in kind, taken into account if it is possible to assess it and to the extent that such benefit can be assessed, and determined for individuals in accordance with Chapter 23 "" of the Tax Code of the Russian Federation ().
According to insurance payments upon the occurrence of an insured event, including periodic insurance payments (rents, annuities) and (or) payments related to the participation of the insured in the investment income of the insurer, as well as redemption amounts received from Russian organization, refer to income from sources in the Russian Federation for the purposes of calculating personal income tax.
Are the sums of insurance premiums paid under the contract subject to personal income tax? voluntary insurance life or health of an employee in the absence of payments to insured individuals? For the legal positions of the courts on this issue, see the section " tax code RF" "Encyclopedia judicial practice"
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At the same time, it stipulates that in determining tax base personal income tax does not take into account income received by the taxpayer under voluntary life insurance contracts related to the survival of the insured person to a certain age or period, or in the event of another event. Such payments are not subject to personal income tax subject to the following conditions:
Financiers emphasize that since tax exemption for other payments, in particular, amounts of additional investment income under a voluntary life insurance contract, is not provided for by the Tax Code of the Russian Federation, these amounts are subject to taxation in the generally established manner.
Greetings dear friends! I am sure that most of you have never heard of the opportunity to increase your savings by insuring your life before. Undoubtedly classical instruments more than enough money. Considering that popular bank deposits are affordable and understandable products, they are most often used by clients of credit institutions to protect savings from inflationary processes. However, in recent years there has been a downward trend interest rate on ordinary deposits, and therefore more and more bank customers prefer to invest in investment life insurance. The choice is conditional high yield and getting additional insurance coverage. Let's look at this capital savings option in more detail.
I have already mentioned investment insurance in my article. essence ILI is as follows: you put your savings in the account of the insurance company as at least 3 years. The client has the right to decide - to deposit the entire amount at once or split it into several parts, replenishing the account at regular intervals during the entire period of investment insurance. In turn, the company undertakes at the end of the term of the policy, pay you the invested funds in full and investment income, if any.
Objects of all kinds personal insurance act life and health person signing a contract with an insurance company. The purpose of ILI is not only to protect clients from financial losses incurred as a result of an insured event, but also to accumulate, multiplication their cash. This type voluntary accumulative insurance is an opportunity to accumulate a certain amount of funds during the validity period insurance policy and receive additional income as a result of asset management. If management companies succeed in investing successfully cash customers, the amount of the initial deposit will increase annually by at least 15%.
It turns out that participation in the investment insurance program is combination of life insurance with receipt additional income from passive participation in the assets offered by the management company.
For the entire duration of the ILI, you will be insured against any risks - death, illness, accidents. The more risks will be included in the "insurance shell", the more expensive the insurance will cost.
Conventionally, your money can be divided into two parts: investment and guaranteed. The latter is invested by insurance companies in instruments that provide guaranteed income, for example, in bank deposits. Sum guaranteed fund, increased by the income received as a result of investment, should be equal to the initial amount of funds invested in the insurance account.
second, investment, part of the company is investing in various instruments with high level profitability. Provided that the chosen strategy turns out to be successful, you will receive not only the invested funds, but also additional income. If the chosen path is unsuccessful, only the body of the deposit will be returned to you. It turns out that even with the most unfavorable outcome, you risk nothing.
The opportunity to invest is presented by companies as an exceptional boon, since you can invest in precious metals, stocks, oil and other instruments. By the way, about how to work with securities, read in my . However, clients are almost never told that over time the amount of the initial investment of ILI will be battered by inflation.
By becoming a member of the ILI program, you get the opportunity to increase your money by investing in various financial instruments. But it's important to understand features:
When signing a life insurance contract, you must provide the company with your passport data. This is necessary to verify your identity and age. I draw your attention to the fact that both residents and non-residents of the Russian Federation permanently residing in its territory can participate in the investment insurance program.
Before signing a contract, consider what risks you want to include in your policy. Often in the list, the first two risks are included in the policy by default and are mandatory, and the third is optional and affects the final cost of the document:
The civil law lists the reasons why insurers may refuse to pay compensation to a client:
Under the terms insurance contract the amount of payments can be different:
The contract concluded between the insurance agency and the insured comes into force after it is signed by both parties and deposited into the insurance account down payment.
According to the terms of the contract to the insured the following documents must be provided:
Documentation confirming the fact of a person's participation in the ILI program is issued to the insured personally or sent by mail.
Before signing a contract, pay attention to a few points:
In addition, the contract must contain information about contact and address details of the insured and the company, as well as requisites for which payments will be made.
The signed contract is certified by the signature of the authorized representative and the seal. Along with your insurance policy contract must be kept until an insured event occurs or the program expires. After that, the documents are transferred to the insurers in order to receive the appropriate payments.
The payment of monetary compensation under the terms of ILI programs occurs in the following cases:
If the occurrence of the insured event specified in the ILI agreement could not be avoided, you or your beneficiary should file request to the company who issued the policy, backing it up with such documents:
The documentation provided is verification, after which, if the application is approved, you or your beneficiary will be paid insurance compensation in the amount specified in the contract.
Today, almost every major insurance company will offer you investment health and life insurance programs. For an inexperienced person, such a variety of proposals can literally confuse. To make it easier for you to find the best policy at an affordable price, carefully read my overview of companies.
The cost of an insurance policy varies from 10 to 600 thousand rubles. The program offered by the insurance market leader is called " Capital Management". The advantage of the program is that the client has the right to choose an investment strategy on one's own. The income from participation in the program will be guaranteed to be higher than the placement of similar funds on a bank deposit.
The cost of an insurance policy is from 50 to 390 thousand rubles. Program from one of the leading companies insurance market called " Vector". It is important that savings can be made in foreign currency. The strategy, as in Rosgosstrakh, is chosen by the client on one's own. Ingosstrakh allows people under 85 to participate in the program. Insured events Ingosstrakh estimates quite expensive. So, for example, in cases of death of the insured person as a result of an accident, the beneficiary receives up to 300% of the sum insured; in case of death from an accident - up to 200%.
Program " Trust Index» from the leader Russian market insurance will attract customers under the age of 79 years. SOGAZ offers 4 investment options. Insurance claims are also high. In case of death from an accident - up to 200%, in case of death in an accident - up to 300%.
For clients with a low entry threshold, the program " Capital and protection". The cost of the policy starts from only 3 thousand rubles a year. In this case, the contract can be concluded for a period of up to 30 years. The company offers whole 6 options for investment programs.
Fans of quality service from Alpha can consider the program " Alfafinance". The cost of the program starts from 100 thousand rubles. The contribution is made one-time at the opening of the ILI. In total, AlfaStrakhovanie offers 6 investment programs, including innovative ones. Well, your corporate service, certainly.
By becoming a consumer of insurance products, you get several advantages in the form of a guaranteed return on capital, a possible high return on investment and tax deduction. Because life insurance payments are not taxable income, life insurance policy holders may receive certain benefits. Tax deductions for program participants are 13% . They can be obtained from amounts up to 120 thousand rubles. That is, for the year of holding the policy, you are entitled to a refund of taxes paid to the state treasury in the amount of up to 15.6 thousand rubles.
The only thing you should be aware of is investment policies do not participate in . Consider also the fact that the profitability of these products may be an order of magnitude lower than expected.
Unlike bank deposits termination of insurance policies entails considerable monetary losses. Early termination of ILI contracts leads to the "burning" of up to 80% of the accumulated funds. I would not recommend investment policies to investors with capital not exceeding 1.4 million rubles. Such investments are more suitable for wealthy clients whose deposits cannot be covered by the deposit insurance system. If your goal is only to save money from inflation, you can split large capital into parts of 1,300,000 rubles each (we leave a reserve for receiving an income of 8% per annum) and put them in 2-5 large commercial banks.
Recently, more and more bank customers say that they were presented with investment life insurance contracts as complete analogues of classic deposits, but with a slightly higher yield. A person who understands the difference between these two tools for accumulating funds is ready to soberly evaluate the option of investing in ILI. If for you this way of investing is a discovery, but you are still ready to consider its possibilities, then you need to pay attention to a number of nuances.
The fact is that the higher profitability of ILI programs is achieved by investing the deposits of insured persons. Unfortunately, not all investment strategies offered by insurers are transparent. Insurers do not have the opportunity to independently track the dynamics of the trend of a particular fund, so you have to believe " word of honor» insurers. As a rule, companies show only a part of the indicators, and therefore it is impossible to be 100% sure that the chosen investment strategy will be successful.
Insurers in this case have only two course of action:
The main indicator that you should pay attention to when choosing an investment strategy is participation rate, which shows the share of the growth of the strategy that the policyholder can receive. This figure can vary considerably. For example, if the coefficient is equal to 100%, it means that the income of the insured is equal to the profitability of the selected fund. Pay attention to whether the percentage of return multiplied by the participation rate will apply only to the part of the funds allocated for investment, or to the entire contribution.
Many insurance companies provide customers with the option change of investment strategy during the term of the contract or fixation of earned funds. Most often, you can use these services only once a year. I must admit that this very comfortably, because you will always have the opportunity to change the investment fund if the initial strategy does not turn out to be very effective. But it makes sense to resort to fixing investment income when the current profitability of funds is high, but its decline is predicted in the near future.
Choose insurance programs from those agencies whose website provides for the possibility of creating personal account . This will not only simplify the control over the dynamics of funds, help to respond to trend changes in a timely manner, but will also provide an opportunity to adjust the initial contract (increase the amount of the deposit or change the current strategy).
So that you can decide whether to become a member of the investment life insurance program or try to make money by investing in other financial instruments, I suggest that you evaluate the advantages and disadvantages of ILI. By the way, if, having reached this point of the article, you managed to understand that investment insurance does not attract you, you may be interested in my article "". Until then, we'll deal with benefits ILI:
In order to most soberly assess the “pros” and “cons” of ILI programs, we put the following on the second scale: limitations:
All the pros and cons of ILI are in front of you. It is up to you to decide whether to invest your savings in the insurance industry or not. Personally I am more inclined towards the option of saving and accumulating funds in deposit accounts. In my opinion, this option of accumulation is much more convenient - you can replenish your account when extra money appears, you get a guaranteed income, in order to withdraw money you do not have to pay compensation or wait several years. Everything is simple and transparent. If you need insurance, take this product seriously. Do not rush to take your money to the first company you come across and overpay for unnecessary options. That's all for me. See you soon!
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In addition to investing in the usual deposits in banks, alternative instruments for investing funds are increasingly being offered - investment and endowment life insurance. In order for the funds directed to these programs to work effectively, it is necessary to understand all the intricacies of such “insurance”, find out their differences, weigh the pros and cons and evaluate all possible risks from investing.
Let's analyze what is accumulative and investment life insurance with all the details.
Investment life insurance program (LIS)- investments in the "insurance shell". By investing in income-generating instruments (bonds, deposits, options, etc.), the investor receives a potentially high return, and the presence of an insurance component allows you to protect the client's relatives in the event of the risks specified in the policy. The policy is usually issued for a period of 3 or 5 years.
Cumulative life insurance programs (CLS) allow the investor to periodically - for example, once a year, 6 months or a quarter to set aside comfortable amounts for long-term goals (an agreement can be concluded for a period of 5 to 20-30 years). As a result of the program, the investor takes the amount of all his contributions and the profitability for the entire period. If an insured event occurs during the validity of the policy, the client receives a payment in the amount of 100 to 300% of the amount that he would have received at the end of the investment.
How does life insurance with the payment of additional investment income work? Funds invested in an investment life insurance contract work as follows:
An investment life insurance policy also protects the health and life of the investor. There are two insured events:
It is important to pay attention:
An essential point in ILI programs is the concept of "participation rate". This is an indicator that shows what share of the growth of the chosen investment direction the client will receive. The higher the coefficient value, the more profitable the investment in the program. When concluding the policy, it is necessary to clarify whether the participation rate applies to the entire deposited amount or only to the investment part.
Having understood what endowment life insurance is, you need to understand the principles of its work.
The main purpose of concluding a life insurance contract is not in the profitability of the program, but in the accumulation and protection of the contributor's relatives in the long term. The insurance company invests the client's funds in classic deposits, so you can count on no more than 4-6% growth annually.
When applying for a life insurance policy, the client determines the duration of the program, the comfortable amount and frequency of contributions. In the "basic" NSZH, as a rule, insurance risks are recognized:
At the request of the investor, it is possible to include additional risks (injury, illness, etc.) in the policy for an additional fee.
There are various types of endowment insurance, one of which is children's insurance:
its main goal is the accumulation of capital by the time the child comes of age;
the main advantage of the program is targeted funds, which means that no one except the child himself will be able to use them;
it is possible to include additional protection in case of bodily injury or disability.
Before agreeing to issue an ILI, you need to learn about its nuances and features.
If the investor decides to take the placed amount before the end of the program, the insurance company will return only the redemption amount - the value pre-specified in the contract.
The redemption amount is different for each year. For example, drawing up a contract for 3 years for 250 thousand rubles. and closing it, the investor will receive (the figures are approximate, each insurance company has its own conditions):
Investment income earned during this time will be paid in full.
Depending on the chosen strategy, ILI can provide the client with a potential income of up to 25% per annum. The insurance company cannot guarantee the implementation of forecasts, as well as say that historical profitability is a clear indicator of the future.
The only thing that is stipulated in the contract is that at the end of the program term, the investor takes the full amount of the contribution, there is no opportunity to “go into the red”.
The law provides for a tax refund on the amount placed in the ILI. This should take into account:
Income earned is also taxable. The investor will need to pay 13% of the excess of the actually received "profit" over the refinancing rate. The insurance company usually acts tax agent- the client receives a “net” income.
The accumulative life insurance contract also has its own characteristics, which must be taken into account before paperwork.
As with ILI, “accumulative” programs provide for redemption amounts in case of early termination. At the same time, in many insurance companies, if they wish to close the contract in the first 1-3 years, the contributions to the client are not returned, and in the future about 10-40% will be returned.
Understanding the long-term investment, the insurance company can make concessions to the client and reduce the premium.
Long-term endowment life insurance falls under the law on tax benefits. The conditions for the return are the same as for the ILI, except that the return can be received annually, and not once.
Upon termination of the contract social deductions be returned to the budget.
Risk and endowment insurance - general restrictions
According to the policy conditions, certain categories of depositors are not accepted for insurance, for example:
The full list of exclusions for each insurance company may vary.
There are also situations that will not be recognized as insured events, for example:
It is important that if the contract was concluded with a client who had a disease or a limitation that falls under the exception, then such a contract will be invalid. Upon the occurrence of an insured event (at the discretion of the insurer), either the redemption amount will be paid, or the investor's contribution will be returned without taking into account the earned profitability.
There is a risk that should be taken into account when choosing the discussed types of insurance - the placed funds do not fall under the law on deposit insurance.
This means that choosing insurance company, it is necessary to qualitatively assess its financial stability.
Alternatively, you can rely on the opinion of valuation agencies, such as Expert RA (accredited by the Ministry of Finance).
Each insurance company is assigned a rating by the agency, which indicates the actual and predicted reliability of the organization. So the most stable companies are rated AAA.
In addition to the rating, it is necessary to pay attention to reinsurers - companies that are liable for obligations in the event of license revocation or bankruptcy. It is advisable to choose organizations that have foreign reinsurers with a high reliability rating according to world appraisers.
Important! Please note that today voluntary endowment or investment insurance is often offered in banks. But credit organisation is only a partner who works with the insurance company for an agency fee. The reliability of the bank does not affect the stability of the insurance company whose products it offers.
Advantages of ISJ:
Disadvantages of ISI:
Advantages of programs with accumulation:
Cons of NSJ:
When making a final decision on whether investment or endowment insurance is needed, one should listen to the opinion of experts.
Prospects for the development of accumulative life insurance are quite positive - more and more clients are interested in financial planning in combination with family protection. tax incentives only contribute to an increase in demand for NSZH.
Otherwise, things are with ILI programs. According to ACRA (Analytical Credit rating agency), in the next 2-3 years there may be disappointment in the investment results of such policies.
It is noted that according to the situation today, the investment insurance market is in a positive situation. If insurance companies manage to maintain the current growth rates, then in 2017-2021 the market will grow by 20-30%. This means that 329 billion rubles of insurance premiums are predicted for 2018, and more than 400 billion in 2019. For comparison, in 2015, 130 million rubles were placed in ILI policies, and in 2016 - already 216 billion.
Divorce of the 21st century? or real income?
