Armin Zitzmann heads the Executive Board of Nürnberger Versicherung. In a recent Interview, the money professional is attacking the interest rate policy of the European Central Bank (ECB). "At the moment, nothing that would sound to the German insurers like good news coming from the ECB," said Zitzmann the "Handelsblatt".
He hoped that the Federal constitutional court limited the measures of the ECB to reduce interest rates. "For me, Mario Draghi, is going too far," said Zitzmann and accuses the ECB President, "to operate hidden government funding". What would not be allowed by the ECB. FOCUS-Online-Deal with world-save
stock market is unsafe? Now attractive interest rates on fixed Deposit and 150 Euro BonusNow to the offer insurers suffer can save lives, increasingly under Mini - and penalty interest
not be charged The interest rate policy of the ECB, are not just savers, how Zitzmann explains. Also, the life insurers were under massive pressure. "If the ECB continues in this way, it will shrink the level of interest." Zitzmann warns, therefore, that life insurers must set their customers on the back burner. The logical consequence is that customers would get at the end of the term less amounts paid.
the return of the life insurance decreases already for years. Currently, the guaranteed interest rate is only 0.9 percent per year. In 2006, he was still 2.75 per cent, even in 2011, he reached 2.25 percent.
life insurance customers rely on the highest possible level of guaranteed interest, because it forms, together with the surplus participation, the rate of return on investments in life insurance policies.Supervisory authority observed almost 30 provider
The entire German life insurance industry sees itself as a victim of the ECB policy. While private investors need to come up with low interest rates clearly, institutional investors have currently a Penalty rate of 0.4 per cent on deposits to shell out in the case of the European Central Bank. The industry costs a lot of money. The result: The financial Supervisory authority, Bafin observed currently, about a third of the 84 German provider, as it is called in the "Handelsblatt"report. The reason for the vigilance of the overseer: A Continuation of the current interest-rate policy could plunge the industry into even greater problems.millions of German citizens put on life insurance
That would be for German investors, particularly fatal, because you have about 84 million life insurance policies. This is an average per citizen more than a Police. Even now, many customers can expect lower payments than you had originally expected.
But the negative effects of low interest rates goes much further, as Zitzmann explained. Ultimately "torpedoed the ECB, the private pension system for the Insured," explains the expert.
His line of reasoning: to Achieve the saver will not have any income, then, weakens the interest of money back. Zitzmann makes it clear: "Because it's the people who have high assets, but to the normal citizens, the tried in addition to the statutory pension, private provision as well." At zero interest there is no Motivation more.
The increase, in turn, the pressure on the government, "the state pension, however, by any means, sure". This means in clear text: The state must rely in the worst case, with still more billions of taxpayers the pension insurance, so that you can pay out adequate pensions. PDF Everything you need to know about your pension
Our PDF guide explains on 100 pages the answers to all the important questions around the topic of retirement. Plus 58 Pages Of Forms.PDF guide Finance professional Zitzmann is no all-clear
From his point of view, the savers in Germany can breathe a sigh of relief yet, Zitzmann. "On The Contrary. If it goes on like this in the ECB, for the savers, the worst yet." He recalled that the Nuremberg savings Bank announced only just long-term savings contracts, because they overwhelm the high interest rates.
Asked whether he could customers, in good conscience, recommend life insurance, if the guaranteed interest rate was only 0.9 per cent, responds to Zitzmann: His company is counting on policies that invest in the Fund. The offer higher yields. However, also the risk, so that customers would have lower guarantees than traditional policies increases with it.
But these are from his point of view, in the current interest-rate situation dead. Because of the guaranteed interest rate does not cover the cost of the customer.
PDF How do I put 20,000 euros?
a daily allowance, fixed deposits, Savings accounts or shares of Fund - what brings the greatest return? FOCUS Online shows you to 30 pages , how they invest their capital, despite mini-interest in a profitable way.
click Here for info and direct Download
Publish Date : 18 Ağustos 2019 Pazar 15:12
You Can Now Borrow Against Your Car’s Value
Make PPC Campaigns More Effective with Proper...
One Way Backlink from News Sites for Forex Companies
Do Schools Really Need Solar Panels?
Department store chain Barneys of applying for...
Björn Rosengren, will leave Sandvik to take...
Falling bolånemarginaler of the banks in the
The company, which is SL, the consultant worked...
What time do they close the bars, pubs and clubs...
One out of every five self-employed have at least...
19% of british companies that cut their earnings...
Employment estimated that only one out of every...
|Employment estimated that only one out of every three contracts to support entrepreneurs to survive in the present|
|The aircraft deliveries of Boeing recorded in July, its worst level since November 2008 for the 737 MAX|