Life insurance : preferred investment of French people
Preferred investment of French people, yes, but strongly impacted by the long-term decrease in bond yield rates. Given this constraint, the strategy of Covéa’s Life Insurance Department has a two-fold objective: on the one hand, to ensure that our members’ payments are invested in ways that serve their interests, which today means a growing share of unit-linked (UL) policies and, on the other hand, to preserve the strength of the Group’s life insurance companies while building up reserves to maintain a sufficient level of return for euro-denominated policies. We are therefore focusing on intake and return on our policies and increasing our level of latent wealth to prepare for the future.
Competitive rates of return
Thanks to the quality of the Covéa Group’s financial management, for many years our loyal customers have enjoyed interest rates at or above the market average.
For instance, in 2017 Covéa’s brands paid rates of return net of management fees of 1.85% to 2.10% on their main euro-denominated life insurance policies, compared with a market average that should be estimated around less than 1.50%.
The essential duty to advise
The investments that we currently offer in our brands’ UL policies allow us to boost investments and preserve the return on our customers’ assets.
To support this new investment approach, our employees and intermediaries rigorously fulfil their duty to advise, which today is at the centre of Covéa’s Life Insurance strategy. Not only is advice based on a detailed analysis of our customers’ concerns and interests, but the associated product offering remains prudent, simple, understandable and fluid.
A comprehensive offering
Individual retirement and personal protection/death policies round out the traditional euro and UL savings offering, enabling us to offer our members and customers a comprehensive, coherent range. With the same focus on advice and diversification, this additional offering is destined to grow.
All the brands therefore offer personal protection/term life insurance policies and borrower’s insurance, as well as PERP retirement savings plans as individual insurance. MMA and MAAF also offer their self-employed members and customers Madelin policies.
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