Probleme und chancen der „kÖnigssparte” libensversicherung


The key issue in insurance is if strict separation of insurance classes brings more advantages than their overlapping. Life insurance, health care insurance, accident insurance and care insurance are related classes. Experts have posed the question since the turn of millenium if at least a part of the insured sum from one insurance class can be used in another one. Life insurance offer coverage for the following events: death during the contract (burial expenses and survivors´ benefit), retirement (old-age pension, disability pension), dread desease, marriage, professional disability, care insurance, financial provisions for children, grandchildren and others, asset accumulation and credit protection. Given the demographic trend and the condition of the state pension systems the interest for insurance has increased with time. Public pension schemes have become inadequate and insufficient. The increasing number of old people generates the need not only for financing but also for servicing of those as well as at their homes as in senior homes. Private health insurance has for decades played not only a cost-covering but also a coordinating role in a triangle patient-hospital/medical-patient; this should also be the case with the old-age provision. Certain projects for raising of the quality of life of the elderly have already succeeded, such as cooperation with home delivery services, care in assisted living facilities and others. One greatest problem for life insurance is sustainability management. Life insurers earn less and less money because of the low interest rates and the conservative investment policy; the reserves vanish. Outcome to the customers is getting higher than the income. Solvency II is an additional burden. In 2000 provisions for premium refunds were one third of the gross preimums, but in 2008 it’s portion was only 7.51%. Experts consider this development as “worrying”, but “not risky” compared to other forms of pension and saving schemes. In general, the European pension plans tend to become a mix of public basic plans and additional private pensions.