Development of Investment Life Insurance in Russia

Abstract

Investment life insurance products appeared in the life insurance segment in the mid-70s of the last century and by the end of the decade, began to gain popularity in many countries (USA, Canada, Asia and Europe). Throughout its history of development, investment life insurance has experienced many ups and downs. Each financial crisis has had a negative impact on its development indicators. Despite this, interest in investment life insurance persists, as more and more potential policyholders want to use investments in various financial instruments in combination with insurance protection. At the same time, they agree to pay a higher insurance premium, being confident that they receive more for it than with traditional endowment life insurance. The article provides arguments in favor of the need for a legislative revision of restrictions on investment life insurance in order to increase its further attractiveness.