ivitn pojitn in one word? Opacity, agree with the addressed experts and attach it to the representatives of the connected. While banks and mobile operators are constantly under the scrutiny of the market regulator and copper, insurance companies are forgotten.
In the case of life insurance policies, which are offered as a form of savings, clients receive their hundreds of thousands of crowns for years.
According to a survey by the analytical company Scott & Rose for MF DNES, those interested in insurance will often not receive basic data even from the insurance company itself. The seller does not talk about possible product distortion.
“Insurance conditions are so complicated today that the client cannot understand them even in good faith,” said insurance market analyst Duan.
Let’s get a product sheet
According to him, it would help if customers had their own explanations, where the basic parameters would be clearly summarized. Including warnings about things that are not covered.
Something similar is currently planned by the Czech Association. “Most clients do not know what they are buying,” said Tom Skora.
Therefore, at the latest at the end of the first year, member association associations should submit a so-called product list to the contractual conditions. On the one hand, it will clearly summarize the basic conditions, which should be the first for life insurance.
The other pain is the so-called redemption, ie the pension that the client gets back in case the insurance is terminated prematurely. I won’t know how much the borehole will connect.
“I got a financial advisor and signed an inappropriate contract. I drank for it and after two years I was paid, ”to Jan Vyhnnek from Prague.
His experience cost him about 120 thousand crowns, again he did not get a crown. “Informative connection about the method of redemption will be insufficient,” the article.
Low redemption and high monthly fees are used to pay commissions to sellers. You are around fifteen and twenty thousand for a contract. Of course, the insurance company must take such data into account and pay the client.
Although the intermediary has a clause, even in the event of premature termination of the contract, the connection fee must be reimbursed. “Although the insurance intermediary is obliged to inform about the redemption, they lack the documents from the insurance companies,” said Ivan Souek, co-owner of the IMG brokerage company.
According to him, the system would be glued to the table, which would translate the newly concluded contract. It would clearly state the year for the minimum redemption in each year.
Let’s not sell rolls
Addressed binders argue the great complexity of their products. “We are informed that we are open, but we will not sell the rolls or white,” said Vclav Blek, a representative of the Czech insurance company. Similarly, the representatives of other couples came out.
According to a survey by Scott & Rose, the connection companies both have problems with the client and basic information (see table). “The data required by them could be compared to the years and the fee for keeping it here in the banks. In some companies, however, the employees did not know at all about the basic parameters of the product, ”says Michal Monika.
According to the Ministry of Finance, there will be no financial ombudsman who could resolve disputes out of court. Powers could be given to Financial Arbiter Otakar Schlossberger.