Recently, the ever complex and complex question of life insurance policies has returned particularly well. In addition to the umpteenth case in which the mayor of Rome Virginia Raggi took part, accused of the suspected promotion of her life policy contractor, important reforms were approved in September. The new legislation of reference abolishes the guaranteed capital and makes the world of life insurance policies, already many unknown, even more heterogeneous, due to misinformation and the many laws that regulate it.
life insurance
In the first days of October, Ivass, an important supervisory authority that protects customers and insurance companies, published the entire regulation introduced with the most recent reforms. The relevant innovations will concern only new contracts and will bring a series of benefits for insurance companies, which will reduce any capital commitment to the insured and will have an increased time flexibility to distribute the capital gains to be set aside for all customers.
The declared objective is to favor an evolution of the Italian system and to bring the country to the level of the other more advanced European States. ANIA, the National Insurance Companies Association, and the same Ivass have long talked to review the traditional life policies and make them more in line with the new, constantly evolving market conditions. These innovative procedures should streamline practices and encourage not only agencies but also customers, through a more targeted service package.
To be affected by the changes are mainly the life insurance policies of branch I, or all those insurances that have to do with the duration of human life. These contracts provide for a separate management and require the investment of the funds in any government bond, guaranteeing to those who subscribe at least the return of 100% of what has been invested. The systems adopted to stipulate these policies immediately appeared extremely safe and therefore attracted a growing number of savers. Compared to solutions such as index and unit linked policies in class I require lower financial investments and do not bounce all risks of loss to customers.
Some companies have tried to curb sales with regard to life insurance policies of class I, since the interest rate is low and the expenses related to separate management are high. The requests for greater flexibility in the management and distribution of capital gains by insurance companies have come to try to respect the provision of capital required by the Solvency II rules. Even the state, with its investments in BTP, has much to gain and the attempt to meet the companies is understandable.
First of all, the new regulation on life insurance policies will no longer guarantee 100% of the capital, but only 90% or 95%, depending on the funds invested. In this way, companies will be able to diversify investments and customers will risk losing only a small part of the capital. As regards flexibility in the management of policies, the procedures already in force in France will be followed. Capital gains may be set aside and there will no longer be any obligation to distribute them in the year of reference. Being able to spread capital gains over two or more years, companies will have the opportunity to put aside some capital in the darker years and move ahead with payments in the best times.
There remains a big problem, or contracts already signed in the past years. The reform interventions can only modify the new contracts and the capital gains accumulated so far, which today amount to about 50 billion, will have to be managed with the old system. Changing old life insurance policies during construction would have been excessively risky and perhaps incorrect, so it was decided to limit the news to future policies. Naturally, the recent legislation will also establish the premiums collected by clients in cases of death and early redemption. Better, therefore, to learn well on the subject and perhaps rely on experts in the field who can advise in the right way. A guide that we recommend? On this page you can find the online policies suggested by Assicurazionivita.net, certainly not one of the many sites on the web, but a comparator prepared on the subject and reliable.
life insurance
In the first days of October, Ivass, an important supervisory authority that protects customers and insurance companies, published the entire regulation introduced with the most recent reforms. The relevant innovations will concern only new contracts and will bring a series of benefits for insurance companies, which will reduce any capital commitment to the insured and will have an increased time flexibility to distribute the capital gains to be set aside for all customers.
The declared objective is to favor an evolution of the Italian system and to bring the country to the level of the other more advanced European States. ANIA, the National Insurance Companies Association, and the same Ivass have long talked to review the traditional life policies and make them more in line with the new, constantly evolving market conditions. These innovative procedures should streamline practices and encourage not only agencies but also customers, through a more targeted service package.
To be affected by the changes are mainly the life insurance policies of branch I, or all those insurances that have to do with the duration of human life. These contracts provide for a separate management and require the investment of the funds in any government bond, guaranteeing to those who subscribe at least the return of 100% of what has been invested. The systems adopted to stipulate these policies immediately appeared extremely safe and therefore attracted a growing number of savers. Compared to solutions such as index and unit linked policies in class I require lower financial investments and do not bounce all risks of loss to customers.
Some companies have tried to curb sales with regard to life insurance policies of class I, since the interest rate is low and the expenses related to separate management are high. The requests for greater flexibility in the management and distribution of capital gains by insurance companies have come to try to respect the provision of capital required by the Solvency II rules. Even the state, with its investments in BTP, has much to gain and the attempt to meet the companies is understandable.
First of all, the new regulation on life insurance policies will no longer guarantee 100% of the capital, but only 90% or 95%, depending on the funds invested. In this way, companies will be able to diversify investments and customers will risk losing only a small part of the capital. As regards flexibility in the management of policies, the procedures already in force in France will be followed. Capital gains may be set aside and there will no longer be any obligation to distribute them in the year of reference. Being able to spread capital gains over two or more years, companies will have the opportunity to put aside some capital in the darker years and move ahead with payments in the best times.
There remains a big problem, or contracts already signed in the past years. The reform interventions can only modify the new contracts and the capital gains accumulated so far, which today amount to about 50 billion, will have to be managed with the old system. Changing old life insurance policies during construction would have been excessively risky and perhaps incorrect, so it was decided to limit the news to future policies. Naturally, the recent legislation will also establish the premiums collected by clients in cases of death and early redemption. Better, therefore, to learn well on the subject and perhaps rely on experts in the field who can advise in the right way. A guide that we recommend? On this page you can find the online policies suggested by Assicurazionivita.net, certainly not one of the many sites on the web, but a comparator prepared on the subject and reliable.
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