Capitalization business

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A capitalization transaction or a savings insurance is a savings contract ( insurance savings ) offered by a life insurer , which is designed in the manner of a classic capital-forming life insurance , but without a risk component. Capitalization transactions are therefore not insurance transactions in the strict sense; the calculation is based solely on the two bases of calculation of interest and costs, there are no biometric data (eg. as mortality tables ) are required. Since capitalization transactions are not insurance contracts , they are not subject to the Insurance Contract Act (VVG), but are subject to the Insurance Supervision Act , since they are equivalent to insurance contracts under European regulations with regard to supervision.

Capitalization transactions, like life insurances, usually participate in the surplus, which in the absence of a risk component consists only of the interest and cost result. Since the VVG does not apply, there is no obligation to participate in surplus in Germany either .

While the capitalization transactions (Contrats de capitalization) are very widespread in France , they have not achieved any particular importance in Germany and Austria. However, in Germany the pension insurance with premium refund and payment of the surplus shares in the event of death during the deferment period and in Austria the endowment (capital) insurance, which in the event of death either pays out the aliquot portion of the sum insured (increasing mixed insurance) or the sum of up to death Refund paid contributions (life insurance with premium refund), because of the very low risk components and the very low inheritance effect in their range of services hardly differentiate from real capitalization transactions.

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