life insurance consumers, we introduc a restriction on the transfer of intermiary infrastructure risks south africa telegram data to clients. For policies issu from April 1, 2024, insurers will no longer be able to refuse to pay investment income, citing the sanctions blocking of payments from foreign counterparties. Last year, a requirement for consumer testing when selling investment life insurance also came into force; it was introduc to prevent misselling and ruce the risks of a person purchasing investment insurance instead of a deposit. From October 1, 2024, financial institutions can conclude an investment life insurance agreement with a non-qualifi investor only if he or she successfully passes a special test confirming understanding of the terms and risks of such transactions. This procure may not be carri out if the agreement provides for protective mechanisms for the client’s interests or the one-time insurance premium is 1.4 million rubles or more.
protective mechanisms are provid
— As for the life insurance contract, last year both market participants and we were preparing to launch this product, which combines classic life insurance and management of client investments in mutual investment funds. We establish minimum requirements for this type of insurance in terms of information.
Features of interaction during investment
and insurance conditions. These are mechanisms that complement the systemic protection of consumer interests under the life insurance contract. We also prepar recommendations on the research and shortlisting use of best practices in developing life insurance programs. We expect that market participants will offer clients products that provide sufficient agb directory insurance coverage, i.e. in the event of death or other difficult life circumstances, significant amounts will be paid under the life insurance contract relative to the total amount of the insurance premium.
