Investment life insurance (LIS). Detailed overview

According to the results of the first half of 2016, life insurance premiums showed a significant increase. The main driver of growth was the bancassurance sector, but, unlike in previous years, not due to insurance imputed when obtaining a loan, but due to investment life insurance (ILI). Many banks offer such an insurance product as an alternative to deposits, since in a positive scenario it can provide a significantly higher income. The product is difficult to understand, because for its understanding it is necessary not only to know the basics of insurance, but also to have an idea about the investment field. Let's try to figure out what is investment insurance life and what you should pay attention to when purchasing this service.

What is ISJ?

Investment life insurance is a product that combines a client's life insurance and a financial instrument that allows you to receive income by investing a part of your contributions. Money in various financial assets offered by the insurer (bonds or shares of various companies representing various sectors of the economy, precious metals etc.).

The main insurance risks under the ILI contract are:

Survival until the end of the insurance contract,

Death for any reason.

The sum insured for the risks of survival and death for any reason is 100% of the paid insurance premium increased by the amount of investment income. The terms of insurance can be from three years. Payment of the insurance premium can be made either at a time or during the insurance period in equal installments (monthly, annually). In addition, the policy may include other insurance risks(death as a result of an accident, death as a result of an accident, etc.), the sums insured for which are set separately and, as a rule, exceed the main sum insured.

The insurance premium received from the client is divided into the guaranteed part and the investment part. guaranteed part Insurance Company invests in conservative financial instruments with fixed income. The income generated helps ensure the guaranteed payout amount. The investment part is invested in highly profitable, but at the same time high-risk financial instruments, due to which a significant investment income is expected.

ILI is not a means of obtaining guaranteed profits. If the chosen investment strategy "did not work", the client, after the expiration of the insurance period, receives only the amount of the so-called guaranteed income, which, as a rule, does not exceed 100% of the insurance payments made. The classic insurance risk component also cannot be called tangible, since in the event of an insured event for standard risks (for example: “death for any reason”), the insurance premium paid is reimbursed with investment income calculated on the date of the insured event. Only if there are additional risks (for example: "death as a result of an accident"), you can receive an additional amount, as a rule, also not exceeding 100% of the contribution.

Advantages and disadvantages

The positive qualities of investment life insurance include the presence tax breaks: receiving a tax deduction in the amount of 13% of the paid insurance premium and no obligation to pay taxes on the insurance payment. Maximum size insurance premium, from which you can get tax deduction, is limited and amounts to 120 thousand rubles, and is applied only for contracts for a period of five years, but upon receipt of income in excess of the refinancing rate, the excess is taxed income tax. Thus, the maximum reimbursement can be 15,600 rubles.

Compared to bank deposits, ILI has positive legal features. From the moment of payment of the insurance premium until the receipt of the insurance payment or the return of the premium upon termination of the contract, the funds belong to the insurer and are not the property of the debtor held by third parties. Funds cannot be confiscated, they cannot be seized, they cannot be recovered in court, they are not subject to division between spouses in a divorce and do not need to be declared.

The contract can be concluded in favor of any person (beneficiary), and if the risk of "death" is realized, it is this person, and not the heirs, who will receive the payment. In this case, there is no need to wait for the entry into the inheritance rights.

The presence of a guaranteed payout amount in the contract is also an additional advantage, which is important when investing in risky instruments.

One of the main disadvantages of investment life insurance is the lack of the possibility of early termination of the contract with the receipt of all paid insurance premiums. Since the minimum term of such contracts is three years, and in most cases they are concluded for five years, this can be a significant problem. But in any case, it is not as sharp as in endowment insurance contracts. When terminating the insurance contract, the client can only receive the redemption amount. As a rule, when paying the insurance premium at a time, the redemption amount is 75-90% of the amount of the premium. But depending on the terms of the contract, the term of insurance, the procedure for paying insurance premiums and the date of termination of the contract, the amount of the redemption amount may be significantly lower or equal to zero.

Investment life insurance is an insurance contract that has a certain list of exceptions, according to which not every case of death is recognized as insurance. At a minimum, these are standard exceptions from the Civil Code of the Russian Federation (cases that occurred as a result of intentional actions of the insured, military operations, civil unrest, and exposure to radiation), but the list of exceptions can be greatly expanded by the contract.

It is imperative that you familiarize yourself with the insurance rules in terms of payment in case of events that fall under this list of exceptions. As a rule, the redemption amount is paid to the heirs of the insured, but there are products that provide for other conditions.

A significant drawback is the lack of a guarantee fund that could provide payment to the client in cases of revocation of the license or bankruptcy of the insurance company. If, when revoking the license, the insurer did not transfer the portfolio or terminate the contracts with the return of the premium (as the law requires), you can receive compensation only by joining the register of creditors.

Of course, the most obvious disadvantage of this product is the lack of guaranteed income. If the strategy develops negatively, at the end of the contract, the client will receive only the payment guaranteed by this contract.

What to look out for

If you are talking about the placement of funds with a bank representative, first of all you need to understand what product you are offered: recently, there have been frequent reviews of customers who have been offered an ILI agreement as a complete analogue of a deposit, but with a higher profitability. If you understand the difference and are potentially ready to consider this type of investment, then, in addition to studying the size of the redemption amounts and the list of exceptions, the important point is the choice of strategy and the possibility of changing it during the term of the contract. It is the chosen strategy that should provide income in the future.

The strategies proposed by the insurer are often not transparent. The insured cannot independently track the dynamics of the movement of a particular fund on the market: as a result, he can only believe in the indicators disclosed by the insurer. There are also objective reasons for such a position: a successful strategy can be copied by competitors. The insurer, in fact, is left with two options. The first is to try to find products with strategies that are tied to the cost of certain commodities (gold, oil of a certain brand) or to funds whose dynamics can be tracked in public sources. The second option is to trust the professionals on the insurer's staff working on strategies and treat this choice as one of the risks of investing.

One of the key indicators when choosing a strategy is the so-called participation rate. The coefficient shows what share in the growth of the chosen investment strategy the insured can claim. The ratio can vary greatly. With a coefficient equal to 100%, the return of the insured is equal to the return shown by the selected fund. An important difference between the products of different companies is that the percentage of profitability multiplied by the participation rate can be applied both to the entire amount of the contribution, and to the part aimed at investing. In the first case, the breakdown of the premium into guaranteed and risky components for the insured is simply informative, and in the second case, it is decisive for calculating the yield under the contract.

Also, insurance companies offer their clients the option of changing their strategy during the period of the contract or fixing earned income. As a rule, the number of these operations is limited (for example, once a year). Changing the strategy allows you to change the investment fund if the chosen strategy does not bring the expected result, and the other one shows better dynamics. When changing the strategy, the participation rate is set on the date of the change. Fixing investment income is advisable to apply when the current investment income of the selected fund is high enough and you predict a decrease in the level of profitability.

It is better to give preference to the insurance programs of those insurers who have the opportunity to create a personal account on the site. Firstly, it will allow you to control the dynamics of the fund and respond to changes in a timely manner. Secondly, it will provide the possibility of making changes to the contract (increasing the amount, changing the strategy) without contacting the office of the insurer. This became possible in connection with the adoption in June 2016 of a law providing for the possibility of drawing up a life insurance contract in in electronic format. When choosing an investment method, it is important to understand that ILI is not equivalent to a deposit. It is an independent financial instrument with its positive and negative sides. The main thing is to follow the basic rule - do not invest all your funds in one investment object.

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.

Endowment insurance life 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 rating agency"Expert RA" (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 endowment life insurance programs at once. Consider those that can be used for long-term savings.

• Product "Comfort"

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.

• The sun product

Forms "children's" capital to a certain period. Benefits: 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.

• Premium product

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 major purchases (an apartment for children or a country house for oneself).

• Product "Optim"

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.

Alliance Life

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"

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.

Raiffeisen Life

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.

IC "Ingosstrakh - Life"

Ingosstrakh-Life has six NSZH programs. 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 a "flexible" bank deposit with the possibility of replenishment and partial withdrawal of funds.

Why I don't like NSJ

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 that the "legendary" reliability 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 like NSZH are) are 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 service in the UK is much 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!

In Russian reality, I prefer risky insurance and self-management. What life insurance policy do you have? Subscribe to updates and share links to fresh posts with friends in in social networks!

It's about about the case when the insurance company has 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, has 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 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 economic benefit in cash or natural form, taken into account if it can be measured and to the extent that such benefit can be estimated, 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 personal income tax calculations.

Are personal income tax amounts insurance premiums paid under a contract of voluntary life or health insurance 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" Internet version of the GARANT system.
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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 certain age or term, or in the event of the occurrence of another event. Such payments are not subject to personal income tax, subject to following conditions:

• insurance premiums under a voluntary insurance contract are paid by the taxpayer or members of his family, or close relatives in accordance with (spouses, parents and children, including adoptive parents and adopted children, grandfather, grandmother and grandchildren, full and half brothers and sisters);
• the amounts of insurance payments do not exceed the amounts of insurance premiums paid by the taxpayer, increased by the amount calculated by successively summing up the products of the amounts of insurance premiums paid from the date of conclusion of the insurance contract to the day of the end of each year of the validity of such an agreement (inclusive), and the average annual Bank of Russia effective in the corresponding year .

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, customers most often use them. credit organizations 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.

What is ISJ?

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 whether to pay 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.

What is insured?

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 of 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 successfully investing clients' funds, then 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.

Components of the contribution

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 initial amount 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.

ILI programs: basic principles of work

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:

1. You can expect to receive additional income from investments, but not from completed trades.
2. When making the next contribution, your funds will be divided into two parts- one will replenish the accumulated capital, and the second will be used for investment purposes.
3. You can on one's own choose where to invest money, if it is written in the insurance contract.
4. you have the right terminate the contract ahead of time and get your money back. But be prepared for the fact that part of the funds will go to pay penalties established by the company.
5. The insurance premium can be paid in one lump sum or in installments. In the latter case, payments can be made monthly, quarterly or semi-annually. Most often, companies encourage policyholders to pay the entire amount by providing them with significant discounts.
6. You can apply for an ILI policy for any period. The main thing is that the period of its validity should be at least 3 years. The role of the insured may be an individual who has reached the age of majority. The upper age limit in most cases is the mark of 75 years. Many companies offer child life and health insurance programs, but they are not investment programs.

How to become a member of the ILI program?

When signing a life insurance contract, you must provide the company with your passport details. 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:

• surviving until the expiration of the contract;
• death of the insured as a result of an accident or natural causes;
• injury, injury, disability.

The civil law lists the reasons why insurers may refuse to pay compensation to a client:

• disregard for notification insurance agent about the insured event that has occurred;
• negligence or deliberate creation of conditions for the occurrence of an insured event in order to obtain benefits;
• the occurrence of an insured event as a result of a nuclear explosion, hostilities, civil unrest, strikes;
• other cases specified in the contract.

Sums

Under the terms insurance contract the amount of payments can be different:

• up to 300% of the total sum insured with the payment of investment income - if the insured person died as a result of an accident;
• from 100% of the total sum insured and investment income - if the person died of natural causes;
• payments due to harm to health are determined separately for each case and are calculated in direct proportion to the amount deposited into the account.

What is specified in the contract?

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:

• sample contract;
• insurance rules;
• policy.

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:

• clear deadlines for the completion of the selected insurance program;
• how the company splits the cash it receives (what percentage of contributions is involved in investment activities);
• list of all possible insurance risks.

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 an 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.

When to expect to receive payments?

Pay monetary compensation under the terms of ILI programs occurs in the following cases:

• the insured person dies as a result of an accident;
• the insured person dies of natural causes;
• the insured person loses legal capacity (in this case, the company must provide documentation confirming the acquisition of disability);
• the health of the insured person is harmed.

An insured event has come: what to do?

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:

• a certificate issued by a medical institution, which confirms the fact of injury;
• death certificate of the insured person (in this case, the documents are submitted by the beneficiary);
• a statement written according to the established model;
• policy;
• original contract signed with the insurance company.

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.

Current ILI programs: an overview of the best

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.

ROSGOSSTRAKH

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.

INGOSSTRAKH

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%.

SOGAZ

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%.

RESO-Garantia

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.

ALFAINSURANCE

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.

To use or not?

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 v . 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 out” 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 pieces 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.

Need to pay attention

Recently, more and more bank customers say that investment life insurance contracts were presented to them 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 the "word of honor" of 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:

1. Search for products linked to the cost of specific goods or funds independently in publicly available sources.
2. Trust the experts of the insurance company.

Key points

The main indicator to which you should pay attention when choosing investment strategy, - 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. Please note 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).

Advantages of ILI

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:

1. Insurance payments in the event of risk events not subject to taxes.
2. Insurance premiums cannot be seized, confiscated or divided because are not property.
3. Insurance payments are not inherited, but are made targeted.
4. Participation in the ILI program provides the right to receive an insurance deduction in the amount of 13% of the contributions for 120,000 rubles paid to the insurance account.
5. ILI contracts are concluded for a long period, and the cost of contributions remains fixed even in cases where the health of the insured falls.
6. The need to regularly replenish the insurance account, the inability to spend the accumulated money ahead of time develop in the clients of insurance companies financial discipline.

Disadvantages of ILI

In order to most soberly assess the “pros” and “cons” of ILI programs, we put the following on the second scale: limitations:

Article Summary

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 saving option 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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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. Having caught the trend, insurers have developed a new product - investment life insurance (ILI), 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.

What is investment life insurance?

In the previously considered (NSZH), the main goal of the insured is to accumulate a certain amount over a certain number of years and provide financial protection for the family in case of loss of a breadwinner. The purpose of investment insurance is to increase (already accumulated by the client) funds, by analogy with bank deposit, and at the same time ensuring the financial protection of the insured's relatives in case of unforeseen circumstances (departure 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 life insurance 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.

How is the ILI policy arranged?

Since investment life insurance is a financial and insurance product, it makes sense to consider its financial and insurance components separately.

The financial component of the policy

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.

Insurance component of the policy

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 thing 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.

Example of calculation of investment life insurance program

Below you can see an example of calculating the 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 received 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.

How does ILI work with a risk component?

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 prevents you from buying in addition insurance coverage against accidents (HC). 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:

• when connecting additional options, the contract works, among other things, as a classic risk insurance program (a small insurance premium and a significant amount of insurance payment in the event of an accident);
• the validity period of insurance protection against NS is equal to the validity period of the ILI contract;
• a beneficiary is appointed in the event of the death of the insured person (not necessarily from among the legal heirs);
• the beneficiary in the event of disability is the insured person himself.

For a number of large insurers (VSK-Liniya Zhizn, 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:

• 1,000,000 rubles - invested amount (contribution);
• 1,000,000 rubles - liability limit for the risk of death from accident;
• 646,072 rubles - available income from investments (see the column "Expected size of the investment part" opposite 5 years).

Payment to the beneficiary: 1,000,000 + 1,000,000 + 646,072 = 2,646,072 rubles. The agreement is terminated.

If the insured person 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).

Investment strategies: Where to invest money?

Where is your money being invested?

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):

• US stocks (SP500 index)
• shares of Russian companies (MICEX index);
• high technology (NASDAQ 100);
• European consumption (STOXX 600 Personal & Household);
• gold (following the value of an ounce).

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.

Typically, companies choose the best financial instruments by default on a risk-return basis. 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.

What is a participation rate?

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.

Trust but verify!

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 fix additional investment income (by increasing the size of the guarantee fund by the amount of the current investment income), receive a payment of the received income 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.

What else to look for when applying for a policy?

1. An ILI contract can be opened for a period of 3 years (in some companies from 5 years) to 10 years.

2. Contribution is paid 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 can be tied to a foreign currency, while payment of the premium (insurance premium) and insurance payment is determined at the exchange rate of the Central Bank of the Russian Federation.

Pitfalls of early termination of the contract

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 a large amount You are getting.

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):

• the amount paid is 1,000,000 rubles;
• redemption - 690,000 rubles;
• income (expected) - 646,072 rubles.

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!

Where to buy an ILI policy?

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.

What is important when concluding a contract?

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 the events listed in the Civil Code of the Russian Federation (military actions, popular unrest, etc.) is not considered an insured event.

Additionally, each company minimizes its risks by supplementing the list of exclusions with death caused by serious illnesses held by the insured 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 about him from the client: 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 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.

Pros and cons of investment life insurance

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.

pros

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 surcharge (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. Maximum amount 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 time of the end of the contract, then it is not subject to personal income tax. 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 to beneficiaries are not subject to personal income tax.

7. Since the ILI contract is concluded for a long period, then possible deterioration of your health in subsequent years of the policy will not affect the cost of the 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. Possibility to manage and monitor the program in personal account policyholder(It is highly desirable to choose an insurer with such capabilities). The client can remotely make following operations: changing the fund (changing the chosen strategy), fixing additional investment income, paying additional investment income, depositing additional contribution etc.

Minuses

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 the insurers the premiums received on them. Otherwise, clients will receive them only in the queue of creditors established by the court.

2. Unprofitable early dissolution agreements(loss of funds);

3. Inability to use investment life insurance as effective method capital accumulation. 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.

Who benefits from the ILI program?

Due to the lack of income guarantees, the investment life insurance program loses to the 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 sum insured equal to your contribution, when can you insure your life much cheaper? Accumulative 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 it is quite profitable to draw up additional programs for risk insurance within the ILI due to large insurance payments as a result of the risk of death or disability as a result of an accident.

As customer reviews show, investment income under real contracts in rare cases exceeds 10%, and mostly loses average rate by 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, seizure 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 it will bring quite tangible profits.