OREANDA-NEWS. November 21, 2008. The clients of the Insurance Company Allianz ROSNO Life insured under the Dolgoletie program (perpetual insurance of annuities) have received the first endowment insurance payments, reported the press-centre of ROSNO.

In 2005, two clients of Allianz ROSNO Life, residents of Moscow and Kazan, concluded annuity insurance contracts with lumpsum premium payment and 3-year insurance period. In 2008, based upon the fact of the insurants’ survival through the date stipulated by the contract, the company made first payments of 501 US dollars per month and 16,547 US dollars per year respectively. Both clients will be paid the contractual insurance amounts throughout the rest of their lives.

"Russia, just as many other countries, has already formed a three-tier pension system: minimum-size pension guaranteed by the state and formed out of state budget and taxes; pension insurance provided by the employers, and, finally, the individuals’ own savings and personal insurance", commented Maxim Chernin, CEO of the Insurance Company Allianz ROSNO Life. — "Taking into account our strained demographics and the experience gained by other countries, it is evident that absolutely everybody has to think over his or her pension. Encouragingly, this trend is gradually gaining momentum in our country. In 2007, the annuity insurance contracts accounted for about 5% of all concluded contracts. The current situation in the financial markets will change attitude of many people towards contemporary risks. Therefore, the pension insurance guaranteeing long-term safety of investments will be in especially high demand".

Information about the product Dolgoletie
The terms of annuity insurance program Dolgoletie contemplate lumpsum payment of the accumulated amount or regular payments in form of a perpetual annuity. The insurance company starts making payments after the insurant survives through the age specified in his or her insurance contract.

For the insurance premium payment period, the program guarantees extensive insurance coverage against the risks "Death by any reason" and "Permanent loss of working ability". Should the insurant pass away within the insurance premium payment period, the accumulated amount will be paid to the insurant’s heir specified in the policy.

Should the insurant decease within the annuity payment period, the contractual annuity, again, will be paid to the heir. The accumulated amount may be increased by means of participation in the company’s profit, which is distributed between the clients based upon the results of each financial year. At the client’s discretion, the program’s currency may be roubles, euro or US dollars.