• time : 10:54:51
  • Date : Tue Feb 23, 2021
  • news code : 205419
Development of life insurance, good alternative to pension funds
Replacing retirement with life insurance is a good way to increase insurance penetration, reduce budgetary pressure on the government, and link the insurance industry with the stock market.

(SHADA: TEHRAN) -- In the first meeting of the Steering Committee for Life Insurance Development Studies, which has been formed to plan, design and monitor the implementation of studies for the development of life insurance, Soleimani said: In the 1400 budget amendment, heavy sums have been considered as payments to the country's pensioners for assimilation, and due to the fact that the country's population is aging, the payment of these sums will put a lot of financial pressure on the government in the coming years.

The solution to this problem in the national and macro dimension is to remove the category of retirement from compulsory status and replace it with life insurance, and it is necessary to lay the groundwork for designing new products and redesigning current life insurance products, Gholamreza Soleimani added.

He considered life insurance as one of the ways to connect the insurance industry and the stock market and added: Given the recent experience of people in buying directly from the stock market, the insurance industry can be more comprehensive in this area than current investment funds and be more welcomed.

The Director General of Central Insurance Company said that the most important challenge for people in dealing with life insurance is how to calculate and determine the value of insurance policy at any time and called for the use of stock market models in the field of life insurance, which could lead to the formation of a secondary market for life insurance.

At the end of his speech, he pointed to the determination and readiness of the Central Insurance Company to amend laws and regulations to facilitate the development of life insurance, prevent any duplication, and help remove obstacles to the development of life insurance in the country and called for proposals and plans proposed by the Committee for the growth of life insurance in the country.

Hamid Kordbacheh, head of the Insurance Research Institute, pointed to the institute's research in the field of life insurance, said: The development of life insurance has fundamentally different aspects of study, promotion, culture and development that require more serious activity in all these areas. He expressed hope that this committee will be able to provide valuable assistance to the Central Insurance in developing and implementing the plan.

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