Life Insurance: assigns each get a half-billion
Many contracts of life insurance unclaimed recovered their beneficiaries. New features introduced in recent years have indeed enabled recipients who are unaware of contracts to recover some 555 million euros since 2006, according to a report that the economy minister, Christine Lagarde, s' prepares to submit to Parliament with Le Parisien and Aujourd'hui en France, reveals the contents on Thursday.
Since 2003, the government seeks to reduce the number of unclaimed contracts, estimated at over 150,000. In March 2009, a new measure has allowed insurers and bankers to verify in a national register if their customers were still alive.Since then, 26,000 dead have been identified, according to the report.
Another 1 billion euros in assets not redistributed
Insurers détiennnent however always more than one billion euros not distributed to beneficiaries of contracts unclaimed paperless payday loans. This amount, established by a survey of the French Federation of Insurance Companies (FFSA) cited in the report, is higher than the estimates of insurers (between 700 and 800 million euros).
A bill proposed by Senator Hervé Maurey, which will be considered by Members before the end of the year, provides for mandatory publication of contracts in unclaimed accounts of insurers. Supported by the Government, this could still contribute to limiting the amounts held by insurance companies to the detriment of beneficiaries.
Preferred placement of French, the market for life insurance grew by 8% since January 2010.
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