Coman, ING Asigurări: Clients will seek guaranteed life insurance this year, too

Guaranteed life insurance and financial plans for children will be primarily targeted this year by clients seeking saving alternatives, given the continuing economic uncertainties, believes Cornelia Coman, general manager of ING Asigurări, the biggest player on the life insurance market.
“Insurance allowing access to investments will further develop and there will be high interest in guaranteed products. Also, I believe financial plans for children will be among clients’ favourites, being a product category that retains focus irrespective of economic circumstances,” Coman stated.
The life insurance market rose by almost 3% in the first nine months of 2010 owing to products with a single premium and guaranteed insured capital launched by several companies, but most market players saw turnover declines.
Gross premiums underwritten by ING Asigurări in the first nine months of 2010 advanced by 4.3% against the same period of the previous year, to 404m RON, owing to the 45% higher sales of unit-linked policies.
Coman expects the average premium for life insurance contracts to go up by 10% this year.