Can you recover the money lost on the stock exchange on life insurance?

The life insurance contracts whose value has fallen contracts are so-called "multichannel" with units of account invested in stock market, and then indexed on the evolution of financial markets. If you have lost money on a contract of this type, two actions are possible. First, the contract may be canceled if the insurance company has not issued any information provided by law, including special conditions. Indeed, the subscriber has the option to abandon within 30 days after delivery of all documents. The law provides that this period is indefinitely deferred until all the information required by law has not been given to the insured. The cases in which insurers have not fulfilled their obligations are common, especially for contracts prior to 1 May 2006.
In canceling the contract, the insured will get the full amounts paid and therefore the losses and underwriting fees and interest.
The alternative is to order the insurer to pay for losses if it failed in its duty to provide information and advice. This is particularly the case when the client was advised improperly or when he was mistaken about the essential nature of the contract. For example, when a person has been encouraged to invest in units of account as prudence required it to focus instead on euro fund or if the insurer has not complied with the direction of an insured asking him 'steer money to the fund in euros. Or if the profile management (risky, cautious or balanced) announced during the underwriting contract was not fulfilled.

Insurance borrower / Minutes: UFC-Que CHOOSE winner of 93 banks

Believing that the UFC-Que Choisir had abused the freedom of expression, 93 banks were assigned July 13, 2007, the association, its President, Editor in Chief and two of its employees.
By a ruling of September 23, 2009 subject to appeal, the Board of the Press Tribunal de Grande Instance of Paris ruled against banks of all their requests. Eight domestic banks have even been sentenced to pay to the UFC-Que Choisir and each employee in question, several hundred dollars in reimbursement of legal costs incurred. The court ruled that the evidence produced in court by the association showed that it had elements of investigation and serious consideration, such university, court decisions and internal documents to the banks on the legality assemblies in place. Judges also felt that the intensity of some of the remarks did not exceed the permissible limits of freedom of expression and were justified by the legitimate aim pursued by the association and the general interest of the case.

This decision reinforces the action of UFC-Que Choisir:
- To punish the excesses of the past, the association sued in May 2007 the NPC and the Savings Bank in order to judge the illegality of these practices. These actions are still ongoing but should, if they lead to favorable judgments, can be used by consumers to claim compensation.
- To rebalance the future the insurance market borrower, UFC-Que Choisir took the Competition Authority. Notice must be made very soon.
- Following the action of UFC-Que Choisir, Christine Lagarde has undertaken to improve the functioning of competition in this market. A provision of the bill reforming the credit passed the Senate in June and discussed shortly in the National Assembly, plans to let consumers choose their insurance contract. The UFC-Que Choisir hopes that its intervention will remedy the shortcomings identified in this market.

Life Insurance: 100% euro or a little action?

A good balance between investment and monetary units of account may be safer than any contract in euros. At the end of last year, deemed secure compartments of life had drained 1,000 billion euros, equivalent to the market capitalization of the Paris! While the units of account, a priori more risky, because they contain including stocks, accounted for only 182 billion. The stock market crash of 2008 caused a massive migration of savings into cash. Reaction understandable individual investors wanted to secure their assets. But in doing so, they have not forgotten too quickly to judge an investment over time? A contract of life insurance used to fund projects of long-term increase his pension to his family immune from difficulties. To address these needs, return on investment mainly cash may prove insufficient.
Security, but at what price? The contract says euro provides a certain security level of capital invested. Insurers must comply vis-à-vis policyholders commitment to reimburse the amount of savings invested at maturity of the contract (net of management fees). That's why managers invest mostly drained of capital to debt. However, the interest rate of the latter are also more profitable than before. In many contracts, reserves of any hidden thing of the past. Indeed, this explains why yields are so disparate from one company to another. If the most efficient yet provide between 4% and 5%, the least attractive already leveled off at around 3.5%. And it's not over! For surprises are expected in 2010.

Moreover, if inflation should return, interest rates are expected to go up to the curb. The low-rate bonds, as they are issued these days, will become obsolete. Unfortunately, they are the ones who feed the contracts currently undertaken. The second family of contracts, said that units of account, are a minority in the overall collection. This is simply because they are indexed to the performance of equities, said in substance Stéphane Girardot, Marketing Director of Sal. Oppenheim. And observe: "Do you know the future direction of the CAC 40? Watch the movements of subscription contracts in life insurance." When investment shares are higher, attention, stock markets will fall. Conversely, if the lowest is that the recovery is near!

Distrust of investors for financial markets is understandable. Stéphane Girardot considered the case of an unfortunate who have subscribed, March 7, 2001, a contract exclusively invested in equities. If he has loosened the legal issue, March 7, 2009, he has lost an annual average of 6.45%. In other words, for a bet of 100, it recovers only 58. However, this scenario is the worst of all those computers could grind. Otherwise, the median performance stands at 9.16%, which will double the capital in eight years. The best contract observed on eight carries a performance by 400%. Three quarters show a gain of 70%. And to return as unlucky, he might cancel his loss by applying its investments as follows: 61% euro and 39% in equities.
The ideal combination It is not necessary to be fully invested in equities to capture performance. A reasonable proportion sufficient to ensure safe gain. However, many life events can occur before the normal expiry of a contract. If the savings must be liquidated prematurely, and that just as a typhoon falls on stock markets, he must know how to fix the threshold limit of what someone is willing to lose. If tolerance does not exceed 15%, it is necessary, as calculated by Stéphane Girardot, opt for a mix 70% euro and 30% shares. With such distribution of assets, a contract product in the worst case a cons-performance minus 13%. But in the best case scenario, it is a gain of 173,000 euros, from an investment of 100,000 euros. Investors can therefore safely increase the proportion of equities in their contracts. Paradoxically, they are less likely than remaining exclusively invested in bonds and cash

News Personal Finance Insurance

Contracts of life insurance units of account or multichannel are now exempt from social taxes from 12.1% (CSG, social levy of 2% and additional contribution) when they come undone by the death of insured. The bill funding the Social Security (PLFSS) released today, concludes that exception. In the future, the insurer shall, before paying the death benefit to (x) Beneficiaries (s), subtract 12.1% of the gains made under the social taxes paid to be paid to Social Security. Recipe expected: 270 million euros. This will have "a financial impact in 2010," reads the PLFSS, it should be applicable in 2010 for all contracts multichannel who unwind by the death of the insured.
The termination of the contract by the death was the last exception to the rule. In all other cases, samples of 12.1% on earnings was due: to each withdrawal on multichannel and contracts each year when the "Register of interests into account, for contracts to support single euro.

Driving without insurance and not stood at the altar. Arrested

The Carabinieri of Gazza and Bordonaro, with the support of a platoon of mobile core of Messina, arrested in the late afternoon yesterday, for violence, resistance and injury to a public official, Marcello Smedile, 37 years. While they were conducting a checkpoint along the Strada Comunale di Bordonaro, they noticed a motorcyclist at the sight of soldiers the Army has avoided taking control manovra.Un gesture that has not escaped the Carabinieri who were intercepted shortly after.
As soon as they neared, the soldiers were attacked and pushed kicking and punching the thirty-seven who fled. The youth was later arrested by Police at home. The investigations carried out showed that the medium on which he was traveling without a coupon Smedile insurance.

Car insurance, more and more interest in online estimates

Many Italian drivers now have discovered the Internet as a means to save on your car insurance. Genialloyd, Zurich, Linear and other leading insurance agencies have embraced the philosophy of low cost online, offering sites from which buying a policy for their car, (almost) always advantageous rates than traditional agencies.
But sometimes, even with the Internet, the situation is far from clear, and it is banal disentangle between the various quotes online. For this I am born of sites that offer a comparison between the various insurance policies offered online brokers that allow you to save time and get a quick identification of the policy cheaper from the data provided. After 6sicuro.it, is now also available on site Assicurazione.it, which compares for you the costs ofvarious auto insurance policies. Too bad that in our case, every attempt to get a quote online collided with the software of the site, showing how bad the town of birth and residence was added ...

Insurance arrives in the bank. Born Protection House, the new bill of Cariparma FriulAdria household PDF

Protection is called the new House bill of Crédit Agricole Assicurazioni dedicated to owners and tenants of buildings for residential use. And protects property values and property content, through a global multi-risk coverage.
The pricing is based on meter-square: the prize is calculated simply on the basis of data reported by the customer. The formula packet includes four lines of supply - small, medium, big, flat - growing in the guarantees and coverage (eg fire and explosion of the building, household accidents, theft, center for help with emergency services). In particular, the line offers the guarantee maxi "Enhancement to New," which offers complete protection for all goods more expensive in order to prevent them losing their value over time.
The package also includes a facility dedicated to the settlement of claims: With a simple phone call to the insured will have a consultant at his disposal. The project comes from the synergy with the Group Crédit Agricole, who wanted to replicate the model in Italy has already been applied successfully in France for which the Bank with its network of transmission becomes the insurance company. Security House, in fact, may be signed at all branches of Cariparma and FriulAdria, with the ability to choose to pay by debit from bank account (how RID). "Cariparma and FriulAdria are among the few Italian banks not to offer insurance products manufactured by third parties but within the Group. - Says Tullio Cianciolo, Head of Retail FriulAdria - Our plan provides for the coming months the extended range also the protection of the person. The project objective is to provide an offer of insurance damage perfectly integrated with world class service first class. "