Starting from this February, ASIROM Vienna Insurance Group offers, for the first time in Romania, the first hybrid life insurance product. MaxInvest is an innovative product which combines the benefits of a traditional insurance with the opportunity to invest on the capital markets.
Being an innovation on the Romanian insurance market, MaxInvest offers maximum flexibility in the allocation of the premiums. The customer has the possibility to choose, at any time during the contract, the modality for allocating the money between a saving with an attractive guaranteed interest, an investment in a share fund with outstanding performances or protection against risks that may affect the welfare of the insured person and his or her family, such as serious diseases, disability, death, etc.
“MaxInvest is a unique product on the market, in the circumstance in which it addresses an extended basis of customers from the perspective of the accepted investment risk: from those who are extremely prudent, who prefer to save money, benefitting from the guarantee of a return on capital, to those who are willing to assume a high investment risk degree. Moreover, the product flexibility is given also by the fact that the allocation percentage of the premiums to the two investment programs can be changed at any time during the execution of the contract”, stated Cristian Ionescu, the Chairman of the ASIROM Board of Directors.
This hybrid product has been developed to permanently support the increase of the efficiency of the insurance contract, through two unique clauses on the market, namely the protection of the earnings and the redirection of the money, over the last years of the contract.
The investment component
Specifically, one can chose the proportion in which the paid premiums will be allocated to the 2 available financial placement programs: one of them offering a guaranteed return per year, the other one being represented by the Erste Equity Romania investment fund, with placements on the capital markets and in instruments of the monetary market.
A customer can choose, at the time of concluding the policy, to allocate, for instance, 50% of the premiums to each of the 2 programs. Later, at any time during the contract validity period, he can change the proportions of the allocations of the premiums (that are already paid and are to be paid) depending on possible opportunities which have been identified or simply as a result of his will to review his own investment policy.
No fees or costs are perceived for reallocating the premiums or changing the proportion of the premium allocation.
The protection component
The basic protection offered by the policy covers the risk of death for any reason. In addition, the coverage can be extended by acquiring additional insurance clauses that offer financial protection for other various risks: serious diseases, disability, fractures or burns due to an accident, surgery or hospitalization.
The financial protection provided by ASIROM in the case of the occurrence of the basic risk (death) is given by the maximum between the value of the insured amount chosen by the contractor and provided by the contract, respectively the value of the account at the time when the risk occurred (the value of the fund corresponding to the guaranteed program and the value of the fund of the investment program), plus 10% of the incurred amount.