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Endowment Life Insurance

Life and health insurance programme that allows accumulation of a pre-defined amount towards a specific date and the receipt of additional investment income at the end of the programme.

Investment life insurance programmes are available to customers of Sberbank Premier and Sberbank First.

Universal life insurance programmes allow you to:

  1. Set up an endowment for a child (for example, to study at university, make the first major purchase or a first mortgage payment).
  2. Preserve your capital by using the tax and legal benefits of the programme: 
    — The tax base for personal income tax is reduced by the Bank of Russia refinancing rate; the insurance payment at the insured event is not subject to personal income tax; 
    — The funds invested in the insurance programme are not subject to confiscation, recovery and are not included in joint property in case of divorce; 
    — No need to wait 6 months to receive an inheritance – if the insurance contract specifies the beneficiaries in the event of death, the insurance payment is not included in the inheritance and will be made to the person designated as the beneficiary within the period established by the insurance contract (as a rule, 30 days); 
    — Minimum tax losses when transferring your savings to loved ones; 
    — Form a reserve capital, including by diversifying your investment portfolio.
  3. Receive additional investment income by using conservative investment instruments.
  4. Form a reserve capital, including by diversifying your investment portfolio.
  1. You determine the target amount of savings and the date by which you want to form the capital. Decide how often you want to pay insurance premiums (lump sum/annually/once every six months/every quarter). Define a list of events in case of which you want to receive insurance protection.
  2. You pay the first premium under the insurance programme, after which the insurance coverage becomes fully effective.
  3. You make regular payments in accordance with the selected frequency of paying the premiums, thereby gradually forming the target amount of savings.
  4. The amount of your contributed premiums will be invested by the insurance company, which allows you to receive additional investment income on your savings (in 2012, the additional investment income announced by Sberbank Insurance IC LLC was 8.2% in RUB and 4.5% in USD).
  5. If further payment of premiums becomes impossible as a result of disability, you will be exempt from further payment of insurance premiums (only if the Premium Payment Exemption was activated at the signing of the contract). In this case, all the details of the insurance contract, including the target amount of savings, remain unchanged.
  6. If any insured event, selected by you and stipulated in the insurance contract, occurs during the term of the insurance contract, the insurance company will make the insurance payment in the amount specified in the insurance contract. In this case, all the details of the insurance contract, including the target amount of savings, remain unchanged.
  7. After the expiration of the insurance contract, the insurance company will pay the target amount of savings, as well as the additional investment income (if any has been accrued in the period of the insurance contract). The payment will be made only to the person designated as the recipient of the insurance payment in the insurance contract.
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