IC "Sberbank life insurance": capital investment, conditions and rules of insurance

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Life insurance is the protection of property interests of a person related to his life and death. This is a long-term and cumulative type of investment. This service is offered on the market not only by professional participants, but also by credit institutions, in particular Sberbank.

About company

Sberbank Life Insurance LLC was founded in 2014. This is a subsidiary of PJSC "Sberbank", which specializes in the protection of property rights. At first, the company offered projects of accumulative and investment life insurance, and then programs of voluntary he alth protection of citizens appeared.

Today the company is one of the three leaders in the market. For 9 months of 2015, the volume of premiums received amounted to 30 billion rubles. Of these, 18 billion rubles. collected under long-term accumulative and investment insurance. Reserves and assets amounted to 55 billion rubles. and 63 billion rubles. respectively.

Insurance company "Sberbank life insurance" offersprotection services to their clients:

• any property of individuals and legal entities, except for vehicles and agricultural machinery;
• civil liability;
• business risks;
• financial risks;
• from accidents;
• he alth insurance.

Scheme

The movement of funds through the life insurance system in a simplified scheme can be represented as follows.

The policyholder makes a monthly payment based on the terms of the insurance contract. The company undertakes to invest these funds within 10-20 years in order to receive an annual income of 14-17%. It is important to understand that the promised remuneration is not calculated according to the compound interest formula (i.e. with capitalization), but according to a unique method known only to the insurer.

The funds received first fall into the reserve, that is, they are invested in a bank deposit, in property or shares. Of the earned profit, the insurer leaves approximately 15-20% for all his expenses, and transfers 80-85% to the client.

In general, investment and endowment insurance is not designed to make a profit. These products are designed to provide financial assistance in the event of he alth problems. Cumulative insurance programs cover the following risks:

- surviving until the end of the contract;

- death (for any reason);- receiving disability of the first group.

Tariffs for this product vary between 5-10% of the payout amount. They depend on age (the olderthe insured, the greater the risk), gender (women live longer than men), set of risks for the chosen program (only death, surviving until retirement, receiving a disability group).

Credit insurance is a hot product on the market

Since 2014, Russians have the opportunity to opt out of consumer credit insurance. It is not profitable for banks to raise the rate on loans issued, as it will affect the cost of the loan. The higher the latter indicator, the lower the level of capital adequacy. Although under the law the availability of an insurance policy is not a prerequisite for issuing a loan, in practice it is very difficult to refuse it.

With the introduction of amendments to the law on consumer credit, the number of complaints about imposed insurance has decreased. From one policy sold, the agent bank receives 50-70% of the cost. This is a significant source of income. Therefore, it is not surprising that professional market participants are in no hurry to return funds for life and he alth insurance. Sberbank and other major credit institutions still comply with the terms of the deal. But the timing for making decisions is different for each bank.

Within two weeks after signing the contract, the client has the opportunity to terminate it unilaterally without losing investments. This service is available to users of investment, funded and boxed products. Such rules apply to Sberbank Life Insurance. The application is accepted only in writing at the branch of the financial institution. But statistics show that there are not so many who want to terminate the deal - only 3%. This is primarily due to the problems that a client may have in the event of an insured event. The second reason is that customers are late in making such a statement to the company.

Why is this happening?

Sberbank life insurance, like any other professional market participant, can return the entire amount paid to the client only until the contract enters into force. Otherwise, the insurer will have tax consequences. The only way to avoid them and still comply with legal requirements is to postpone this moment. The client enters into an agreement, pays for the policy, but the service begins to operate after a while.

The situation in the insurance market

The clients of HCF-Bank can also return the funds paid for the policy of IC Home Credit Insurance, Renaissance Insurance or Regional Insurance Company. If the client changes his mind within 30 days after the conclusion of the contract, he can receive 100% of the cost of insurance. Funds are returned to the account and immediately sent to repay the loan. Non-loan insurance policies are non-refundable.

A similar service is offered by Promsvyazbank and Binbank. But in both credit institutions, the share of the return of funds is small. Alfa-Bank is only preparing to introduce this clause into voluntary insurance contracts, but at the same time it is going to give the client 14 calendar days to think about it. But VTB 24, RSB, Bank of Moscow, and HMBOpening do not consider this option at all.

The minimum percentage of credit insurance refusal is the norm. In the context of growing requirements for borrowers, a decrease in demand for loans, this option can attract new customers. The “cooling off period” is provided by banks whose borrowing rate is independent of the availability of a policy and for which commissions from the sale of insurance are not the main source of income. This option will improve the image of both the bank and the insurance company, as it reduces the likelihood of claims.

Sberbank: mortgage life insurance

Potential borrowers are interested in the issue of protecting life and he alth when applying for a loan to purchase a home with government support. Such programs operate at a reduced interest rate of 12%. If the client refused to take out life insurance, then the bank's income increases by 1%. Of course, you can return the money for the imposed service during the period of the program, but even in this case, the rate will increase to 13%. The same applies to cancellation or non-renewal of insurance for the next year. All these conditions are spelled out in the loan agreement.

However, personal insurance is no longer perceived as an additional way to extort money from a client. Moreover, if there is an agreement on the protection of property interests, you can get a mortgage at 11.4%. But there are many questions about the terms of the deal. The fact is that the service can be issued only at Sberbank Life Insurance LLC at a fairly large rate of 1% of the amount.loan. That is, if a client purchases an apartment for 3.5 million rubles, making a down payment of 1.5 million rubles, then he borrows 2 million rubles. The insurance premium in the first year of the contract will be 20 thousand rubles.

Really?

In fact, it is easier to insure life in any bank-accredited company. On the ground, managers prefer to keep silent about this for various reasons: from incompetence to the material interest of employees. You can find out what other companies the financial institution cooperates with at the office. site. Life insurance with a mortgage at Sberbank can be issued in 16 companies: VSK, Absolute Insurance, VTB Insurance, SOGAZ, Zetta, RESO, Ingosstrakh, Rosgosstrakh, NASKO, "Renaissance", "PARI", SF "Adonis", "Sterkh", "Spasskiye Vorota", "RegionGarant", SO "Surgutneftegaz". Rates may vary up or down. If Sberbank employees refuse to accept such a policy, ask them for a written refusal.

The attractiveness of investment insurance

The investment investment program from Sberbank Life Insurance offers services for the simultaneous protection of investments while investing them in various assets in the Russian and world markets. A bank deposit brings a stable, but low income. Mutual funds offer more interesting income opportunities, but with more risk, and their benchmarks have shifted towards more experienced investors. Therefore, the attractiveness of investmentprograms from IC "Sberbank life insurance". Customer reviews confirm this.

Conditions

IC "Sberbank life insurance" has an investment product in its line. When paying the installment, part of the funds is directed to classical instruments (bank deposits, government bonds), and the rest is invested in the asset chosen by the client. But within the framework of this program, the risk of non-receipt of income falls on the customer. Conservative instruments are additional protection from Sberbank Life Insurance. The client will receive a refund, or rather the initial amount of investment, even if the asset he has chosen is completely depreciated.

The program is long-term. If desired, the client can terminate the contract. In this case, he will receive the ransom money. In the market, ups and downs are constantly alternating. The chance to earn higher income in the medium term. Good market conditions can change at any time. Two or three years after the start of the investment, you can change the underlying asset without any deductions.

IC "Sberbank Life Insurance" does not position an investment product in its line as an alternative to a deposit. It is aimed at customers who already have a deposit in the bank that covers quarterly income. Anything can happen in life. And exiting a long-term investment due to a temporary loss of work and salary is illogical. But it is also wrong to keep the annual budget in the bank on deposit. Such an investor may be interested in receiving additional income.

The investment program is aimed at just such people. The client can independently choose any asset in the Russian and world markets. Moreover, program participants have another important advantage - preferential taxation of income received. Clients who have concluded a life insurance contract through Sberbank for a period of five years or more are en titled to a personal income tax deduction. The tax is charged only on the part that exceeds the income at the refinancing rate.

International he alth insurance

Sberbank life insurance company offers its clients a new product for protection against critical illnesses with the opportunity to undergo treatment abroad. This will allow clients to take advantage of the experience of specialists from the world's leading clinics and cover the cost of medical care during the treatment of dangerous diseases, rehabilitation, preventive examinations, and receive an expert medical opinion. The main advantages of the service are a wide range of risks, countries where you can receive treatment, and a new service.

International he alth insurance allows you to get help in situations where the standard VHI policy does not work: cancer treatment, surgery, rehabilitation after organ transplantation. The program provides for professional examinations abroad. The policy also covers the treatment of diseases that were detected in the client before the conclusion of the contract (but not earlier than 2 years later), andalso at the end of its term. Additionally, the client can purchase other packages of services abroad.

International life insurance of the borrower (Sberbank) allows clients to receive treatment in the world's leading clinics:

• in Germany, Israel, Spain, Turkey, Russia - cancer treatment and surgery;
• in any country - transplantology;
• in Israel – rehabilitation and palliative care.

The “all inclusive” approach within the insurance program provides not only for receiving payments, but also for a wide service for organizing the treatment process, travel of the client, as well as accompanying him abroad. High level service is provided around the clock. First, before, during and after treatment, consultation is provided by telephone hotline. Secondly, the cost of the program includes the cost of air travel for the client and his companions to the clinic abroad. In moments of serious illness, psychological help is important.

The duration of the program is 5 years. The terms provide for the possibility of an annual renewal of the contract. The annual limit of the sum insured per person is $1 million with the possibility of a threefold increase. Due to the wide geographical coverage, the policy is issued only in US dollars. The maximum age of the client is 65 years. There are preferential programs for clients who draw up a contract for the whole family, consisting of 5 people.

Pokémon insurance is a new product on the market

Pokemon is a character from the new mobile game Pokemon Go. She iswas developed not only by gamers, but also by bankers. Rocketbank was one of the first to launch a Pokémon Catcher Insurance Program. For a character "caught" at a bank branch, cardholders received 50 rubles to their bonus account.

Sberbank recently joined this venture. He opened a special site for players with the addresses of 28 modules that attract cartoon characters. The management of the financial institution hopes that in this way it will be able to attract enthusiastic gamers to the departments. If during the capture of one of the Pokemon the client is injured, then IC Sberbank Life Insurance LLC will pay him insurance for a maximum amount of 50 thousand rubles. You can apply for the program directly from the website.

To make gamers even more interested, Sberbank is holding the "Always in touch" campaign. Cardholders can connect "Autopayment" until August 18, replenish their account at least once - and then when they catch a Pokemon, a credit institution will credit the player with 500 "Thank you" bonuses. Additionally, the client will need to send a screenshot and a mobile phone number in a PM to the Sberbank community on Facebook or VKontakte.

"Tinkoff Bank" offered its terms of action. Each client who has issued a Tinkoff Google Play credit card will receive 2,000 bonus points from the credit institution. They can be used to pay for any purchases in the online store, including in the game Pokemon Go (1 point=1 ruble). The game already provides gamers with cash-back for all purchases on Google Play (10%), in restaurants (2%) and for all othershopping (1%).