It is most profitable to insure your life when you are young

The Central Bank of Russia plans to improve the rules for paying compensation to citizens who have insured their lives when receiving a consumer loan. According to the new rules, the amount of insurance payment will vary depending on the gender and age of the insured.

The basic rules remain the same. Thus, insurance can be issued and received on condition that the citizen has reached the age of 18, on condition that the insurance premium has been paid, or, if the insurance amount is paid in parts, on the day following the first payment made by the insured.

As MK has learned, the size of the payment is proposed to be set by multiplying the contribution amount by the age and gender coefficient. To set this coefficient, potential creditors will be divided into groups by gender and age. The first age group is from 18 to 30 years old, then a step of 10 years (30-40, 40-50 years old) and so on up to 70, upon reaching which citizens fall into the 70+ category. The largest payments will be to young women (coefficient 466 for citizens under 30), the smallest - to men over 70 (coefficient 3). In essence, this is a division by risk groups: credit institutions take the greatest risk when insuring older men, the least when insuring a young representative of the fair sex.

Authors: