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The Necessity Of Legal Arrangement Of Unit-Linked Life Insurance Products

Author

Listed:
  • Dacev, Nikola

    (International Balkan University, Skopje, Macedonia)

Abstract

The rapid development of life insurance and its dissemination throughout the world, and the emergence of new types of life insurance products, in order to meet the needs of citizens, raises the question of proper legal arrangement of these issues. This article refers to the life insurance products linked to investment funds (unitlinked life insurance products) as a new type of life insurance products, especially in developing countries. The purpose of this article is to explain the meaning and the types of unit-linked life insurance products offered by insurance companies; to provide the available statistical data regarding these types of insurance products; to analyze the legal framework of unit-linked life insurance products in the European Union and in some Southeast European countries, one member of EU and two candidates for EU membership. The conclusion of the article provides the reasons for additional legal regulation of the unit-linked life insurance products.

Suggested Citation

  • Dacev, Nikola, 2017. "The Necessity Of Legal Arrangement Of Unit-Linked Life Insurance Products," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 8(3), pages 259-269.
    • Handle: RePEc:ris:utmsje:0219
    as

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    References listed on IDEAS

    as
    1. Huaxiong Huang & Moshe A. Milevsky & Jin Wang, 2008. "Portfolio Choice and Life Insurance: The CRRA Case," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 75(4), pages 847-872, December.
    2. Jin-Lung Peng & Kili C Wang, 2015. "Information Problems in Bancassurance: Empirical Evidence Based on a Comparison Between Over-the-Counter and Telephone Marketing Customers," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 40(2), pages 102-132, September.
    3. Ravi Akula & Tirupathi Kanchu, 2011. "Growth of ULIP Policies in Life Insurance Sector - A Comparative Study of Traditional and ULIP Policies," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 2(2), pages 190-199:2, March.
    4. Marcus C. Christiansen & Michel M. Denuit & Jan Dhaene, 2014. "Reserve-Dependent Benefits and Costs in Life and Health Insurance Contracts," Tinbergen Institute Discussion Papers 14-117/IV/DSF80, Tinbergen Institute.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    policyholders; blue-chip stocks; investment funds; mutual funds; EU legal framework;
    All these keywords.

    JEL classification:

    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

    Statistics

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