In the conditions of crisis the majority of banks have ceased to care of preservation and increase in savings of Ukrainians. However, nature abhors a vacuum. This blank partially undertook to compensate life insurance companies. We have understood whether it is necessary to insure life in crisis. Obligatory reliability In September the market of life […]
In the conditions of crisis the majority of banks have ceased to care of preservation and increase in savings of Ukrainians. However, nature abhors a vacuum. This blank partially undertook to compensate life insurance companies. We have understood whether it is necessary to insure life in crisis.
Obligatory reliability
In September the market of life insurance bragged 404,3 million grivnas of insurance premiums which has collected for the first half of the year 2009. And though this sum has appeared on 16 % less (for comparison, the brave market in the first half of the year has fallen to 19-20 %) than in the first half of the year 2008, there is nevertheless the occasion to optimism. Today in Ukraine 175 companies which carry out life insurance work. For a year the life insurance market will decrease all for 20-30 % and without loud closings of the companies and introduction of acting administrations, as in the market of brave insurance. However, despite decrease in awards, life insurance companies carry out the obligations to clients and have increased volume of insurance payments by 35,8 %.
Life insurance companies are subject to bankruptcy not in such measure as brave. Reliability of similar financial establishments is supported with insurance reserves which only for 2008 have increased by 62,3 % and have made 1,609 billion grivnas. The maximum that threatens the life insurance market is a falling of gathering. The maximum quantity of policies which have been concluded last years haven’t matured yet so that it was possible to speak about payments of the redemption sum in the slightest degree approached to the sum of the paid insurance premiums.
Health and life
In the conditions of crisis Ukrainians have refused memory policies and insured invaluable values: health and life. Sales of memory insurance have seriously reeled in the market of physical persons and there are no bases to consider that the situation will change for the better in the near future. In 2009 the quantity of contracts on insurance of health and upon accidents in relation to memory insurance has increased. Therefore many life companies finished the brave products supplemented with their new options interesting to the client.
Today insurance agents model program of financial security for each separate client considering his family structure, level of security material benefits, a state of health and business factors of economy.
Aspiring to keep clients life insurance companies offer favourable conditions. Many restrictions established by the companies earlier are cancelled today. As, for example, possibility to reduce the size of payment to increase periodicity of entering of payments.
In the life-insurance market, experts assure, anything terrible won’t occur. The basic item of expenses of the companies on life insurance is payment of the commission fee decreasing proportionally with falling of sales of life-products. Besides the market of life will avoid considerable fluctuations and shocks thanks to the so-called “long” money providing reliability. However, investments for development too don’t need to be expected in the near future.
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