📋 Tender Overview
This will be similar to the deposit insurance system, i.e. if the insurance company's license is revoked, the citizen will be able to receive their insurance payments and other compensation within certain limits.
The State Duma adopted in the second reading the bill on guaranteeing rights under life insurance contracts in order to protect the interests of citizens ( 372345-8 ).
The subject of the guarantee will be life insurance contracts - accident insurance, health insurance, medical insurance. In general, for the purposes of this law, this set of contracts will be called life insurance contracts.
A guaranteed event will be the revocation of an insurance company's license, including a foreign insurance company's license to carry out voluntary life insurance, with some exceptions. The Deposit Insurance Agency (DIA) will handle guaranteed payments.
In the event of a warranty event, citizens will be paid:
insurance payment to the beneficiary under a life insurance contract;
surrender value under a life insurance contract;
insurance premiums under such contracts, subject to return upon termination of the contract;
compensation in connection with the redemption of investment units of mutual funds, the units of which are intended for qualified investors. We are talking about such compensations due to the policyholder upon termination of the shared life insurance contract;
some other payments.
The amount of the payment will be calculated after 45 calendar days from the date of the occurrence of the warranty event. The payment limits will be as follows:
if there is a right to an insurance payment in connection with the risk of death, no more than 10 million rubles will be paid;
if there is a right to other payments – no more than 2.8 million.
If the next insurance premium was not paid on time, the guarantee payment will be subject to reduction by the amount of such premium. The future law prescribes the procedure for receiving guarantee payments, the procedure for filing an application, the procedure for forming the guarantee fund and other aspects. It is assumed that this law will come into force on January 1, 2027.
