An insurance policy that, upon the death of the policyholder, – pays for the policyholder’s debts up to a certain limit specified in the contract (pays off a specific amount of debt) and/or – pays out a specified amount to the contractually named beneficiaries. – See annuity, impact study on long-term guarantees, embedded value securitization, single payment, capitalization business, benefit claim, policy exchange, risk and solvency assessment, company-owned, surrender value, life insurer protection fund, solvency, spread, mortality fund, tontine, surplus sharing, XXX-InsuranceLinked Securities, viatical market, zillmerization, interest rate splitting. – Cf. Financial Stability Report 2012, pp. 445 ff. (disadvantages for insurers due to low interest rate policy; investments of life insurers since 2006; overviews), BaFin Annual Report 2013, pp. 118 ff. (problems faced by insurers in the wake of Solvency II), p. 141 (filings by companies from the EEA), pp. 142 f. (problems in the low interest rate environment) . In the respective annual report “Statistics on primary insurance companies and pension funds” of BaFin, also overview of market shares and earnings situation of companies in Germany as well as premium income and other key figures, Monthly Report of the Deutsche Bundesbank of July 2014, p. 78 ff (risks resulting from the low interest rate environment).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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