Insurance funded programs available in Russia

Insurance funded programs available in Russia

When planning your financial future, you are sure to come across various insurance savings programs. This article will tell you about similar programs available in Russia. And also – it will help you choose the best solution for your tasks.

1. Why accumulate in insurance There are various savings tools, and a life insurance contract is just one of them. Why do individuals often use different insurance plans for savings? There are several reasons for this. First of all, many people need financial protection . And so long-term financial planning often starts with the topic of life insurance. This is done for the financial security of loved ones, as well as to guarantee the family the achievement of its most important life goals. And since there are insurance plans that, at the same time as protecting life, also allow you to accumulate funds, some people choose such solutions. Along with this, there are insurance contracts of fundamentally different quality. Formally, they are life insurance – however, in a critical situation, they only return to the family the funds that the person managed to accumulate at the time of death. In such contracts there is no insurance in its usual sense, when for a small premium the family receives a very large payment in an emergency. Then why are they needed? The fact is that in many countries capital gains in life insurance contracts are not taxed. Therefore, investment plans in the legal shell of life insurance are very convenient for individuals. Along with tax incentives, such contracts also protect assets from encroachment by third parties, and allow you to appoint any beneficiaries. Finally, in some cases, universal life insurance contracts are available. These policies provide a person with protection, and also allow you to use the policy virtually as a bank account – depositing and withdrawing funds from him if necessary. Let’s see what cumulative programs are available now in Russia. Download an overview of life insurance solutions available in Russia:

2. Affordable insurance programs Below I will briefly describe the various contracts so that you can choose the right solution for yourself.

2.1 NSG This is familiar to many Russians cumulative life insurance . Watch my video about the construction of such contracts:

2.2 BCI These are also familiar investment life insurance contracts . These contracts usually provide for a large contribution at the opening of the policy. The deposited amount is invested in accordance with the chosen strategy. A mandatory feature of such agreements is the protection of the client from losses. Therefore, the insurer places most of the contribution in instruments with guaranteed profitability. And only a small part – in assets that can bring significant investment income. As a result, the vast majority of customers receive returns even lower than on bank deposits. Such contracts are neither effective for investment, nor for life insurance.

2.3 Unit-linked These are effective investment plans in the insurance cover . They work like a broker account, and allow you to form an investment portfolio of assets that are traded on global financial markets. A very important property of such plans is the automation of savings. This helps individuals to create personal capital through regular contributions. Read my review of these contracts: Name e-mail * Get a PDF Review

2.4 Universal Life Insurance In some cases, you can use universal life insurance . Such plans provide high insurance coverage, and at the same time, high liquidity to those funds that are deposited into the insurance account. Money in a contract can be managed in various ways. You can withdraw them from the account, or take a loan from the insurer against the security of the monetary value of the policy. And while the funds are in the contract, the insurer invests them with conservative returns. The policy itself can be designed very flexibly , taking into account your individual tasks. As a result, the contract will possess the properties you need. Such plans are both a conservative funded plan and a good insurance contract. Unfortunately, now such policies are available for Russians with a number of serious restrictions.

2.5 life insurance A number of foreign companies offer Russians life insurance . What does it mean – for the rest of my life. And since life is finite, from the point of view of the family, such contracts solve two problems simultaneously. While the breadwinner needs insurance protection, the policy provides it in full. And when dozens of years pass, children grew up, loans are closed and all financial obligations are fulfilled – the contract already solves the task of creating an inheritance.

When a person’s life path is completed, the insured amount specified in the contract will be delivered to the family. This payment will be the inheritance of children. Therefore, life insurance policies can be partly considered an accumulated insurance program. And families often use this option, solving two problems simultaneously with the help of life insurance.

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