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Sector is to use proper table of life expectancy for new contracts
Rio-Switching in the form of measuring the life expectancy of the population, announced yesterday, will allow Brazilians to pay less when buying a life insurance policy. On the other hand, will force the client to contribute longer in pension plans to provide the same benefit.
According to the industry, the price of life insurance should fall between 10% and 15% with the new actuarial table designed specifically for the Brazilian market, which increases the life expectancy of consumers of that type in the country before, the segment would adopt as parameter data of the population of the United States.
The president of the Superintendency of Private Insurance (Susep), Armando Vergilio explained that the forecast it based men and women of 40 years, more than full insurance consumption in the country Under the new board, with Brazilians that age had higher life expectancy in seven years.
"It's a milestone for the sector that will have products tailored to our reality," said Vergilio.
The new formula for calculating insurance consumers only are pension plans and insurance in Brazil. This universe represents 32 million people. With the new, in the case of welfare, the women went out most affected by adopting the new board.
To maintain the same benefit, a woman aged 40 years will contribute a further six months, while the men will need only a month to ensure its original programming. Vergilio noted that only the new contracts will reflect the change in life expectancy.
Source: Portal of the Day