Most people who bought an ING life insurance this year are married and have children. Three quarters of the company’s clients are below the age of 40. Bucharest ranks first, in terms of region of origin of clients, with almost one third of the total new business, followed by Transylvania, with 24 percent.
According to ING Life Insurance, the most sought-after three products are mixed life policies, which combine the protection component with long-term savings, financial plans for children, and protection plans. Each of these categories has a share of over 20 percent.
“We are certainly witnessing a change in the preferences of clients, as the share of protection products and those offering guarantees is increasing in the detriment of investment plans. However, we expect that the appetite for investment products will bounce back, a trend demonstrated by the evolution of such products in similar past periods,” said the General Manager of ING Life Insurance, Cornelia Coman.
The buyback of life insurance contracts is a phenomenon that developed in the first half of 2009, due to the macroeconomic evolution, affecting all companies in the field. According to ING Life Insurance, the decline in revenues and the urgent need for money for solving personal priorities are the main reasons for which clients decide to forego contracts.
