The panel discussion “Life insurance in the time of pandemic – why now is the time to insure life and how to choose a policy”, was held yesterday, in Crowne Plaza hotel. The panel was organized by the websites Sve o Osiguranju and Sve o Novcu.
The risk of a pandemic is included in life insurance policies and there have already been disbursements of the sum insured, the participants of the panel discussion called “Life insurance in the time of pandemic – why now is the time to insure life and how to choose a policy” which was held yesterday live online on a YouTube channel Sve o Osiguranju, confirmed.
The representatives of Wiener Stadtische Osiguranje, Sava Životno Osiguranje, UNIQA Životno Osiguranje and Generali Osiguranje took part in the panel under the slogan “Be Risk Protected”.
Interest in life insurance policies has been growing since the beginning of the year, as shown by the fact that life insurance premiums in Serbia in the first six months of this year increased by three per cent compared to the same period last year.
The pandemic, according to the participants, should not be a direct reason for purchasing life insurance because “the right time for obtaining this type of insurance is always yesterday”, although the current situation has increased people’s awareness of the need for this type of financial coverage.
Panel participants from insurance companies also underlined that focus should also be on differences between risk and mixed life insurance: risk insurance implies payment of the sum insured in case of death, and mixed insurance, in addition to various risks, covers survivorship and profit after the insurance period expires. The panel participants also agreed that the benefits that this type of policy provides to their families in the most difficult moments should be the main motive for owning a life insurance policy.
The panel participants also reminded that it is possible to include numerous other risks in the life insurance policy, including those from increasingly frequent diseases and surgical interventions, and that insurance policyholders are nowadays more focusing on prevention, and they often have annual medical checkups. Life insurance, as they pointed out, is financial planning for future events, whether it is about uncertainties that we cannot plan or certainties such as children’s schooling, weddings, births and the like.