{"id":2519122,"date":"2025-04-01T13:35:52","date_gmt":"2025-04-01T11:35:52","guid":{"rendered":"https:\/\/www.fma.gv.at\/?p=2519122"},"modified":"2025-04-01T18:04:09","modified_gmt":"2025-04-01T16:04:09","slug":"a-life-insurance-policy-isnt-a-savings-account-latest-edition-of-the-fmas-consumer-information-series-lets-talk-about-money-out-now","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/a-life-insurance-policy-isnt-a-savings-account-latest-edition-of-the-fmas-consumer-information-series-lets-talk-about-money-out-now\/","title":{"rendered":"A life insurance policy isn&#8217;t a savings account: latest edition of the FMA&#8217;s consumer information series &#8220;Let&#8217;s talk about money&#8221; out now"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\">Even though life insurance products have become less popular in recent years, with almost 8 million contracts they remain one of the most prevalent financial products in Austria. The new edition of the information series for consumers &ldquo;Let&rsquo;s talk about money&rdquo; (&ldquo;Reden wir &uuml;ber Geld&rdquo;) reminds consumers about this product&rsquo;s characteristics.<\/p><p class=\"wp-block-paragraph\">In classic, funds-based or index-based manifestations, life insurance is not only a purely savings product, but also covers mortality risk. Part of the premium that is paid in, is used to cover this risk.<\/p><p class=\"wp-block-paragraph\">In the case of classic life insurance, the savings premiums are invested by the insurance company: for example in bonds, shares or real estate. A variable participation in profits may also arise, but this is unable to be guaranteed in advance. During the low interest environment that prevailed for a number of years, the Austrian Financial Market Authority (FMA) reduced the maximum permitted guaranteed interest rate to ensure long-term fulfilment. It has been zero since 2022. General rise in interest rates may be reflected in the variable participation in profits.<\/p><p class=\"wp-block-paragraph\">With fund-based life insurance plans, the savings premium is invested in an investment fund, whereas the index-linked life insurance performance depends on the performance of a financial index. Both may fluctuate depending on how financial markets perform. The standardised information documents that insurance companies must provide contain information on the type, risk, costs and possible gains and losses from life insurance policies.<\/p><p class=\"wp-block-paragraph\">If a life insurance policy is redeemed early financial disadvantages often ensue as the surrender value is usually significantly lower than the premiums paid in &ndash; it may make sense to make make the product non-contributory rather than redeeming it.<\/p><p class=\"wp-block-paragraph\">The new edition of &ldquo;Let&rsquo;s talk about money&rdquo; entitled &ldquo;A life insurance policy is not a savings account&rdquo; can be found <a href=\"https:\/\/redenwiruebergeld.fma.gv.at\/en\/a-life-insurance-policy-is-not-a-savings-account\/\">here<\/a>. All other editions of &ldquo;Let&rsquo;s talk about money&rdquo; <a href=\"https:\/\/redenwiruebergeld.fma.gv.at\/en\/\" target=\"_blank\" rel=\"noreferrer noopener\">can be found here<\/a>.<\/p><p class=\"wp-block-paragraph\">Detailed information about life insurance products can be found <a href=\"https:\/\/www.fma.gv.at\/en\/insurance-products\/life-insurance-everything-you-need-to-know\/\">on the FMA website<\/a>. Follow &ldquo;Reden wir &uuml;ber Geld&rdquo; on Instagram too at <a href=\"https:\/\/www.instagram.com\/redenwiruebergeld\/\" class=\"external\" target=\"_blank\" rel=\"noopener\">@redenwiruebergeld<\/a> or www.instagram.com\/redenwiruebergeld. The &ldquo;Reden wir &uuml;ber Geld&rdquo; <a href=\"https:\/\/reden-wir-ueber-geld.podigee.io\/\" target=\"_blank\" rel=\"noopener\" class=\"external\">podcast<\/a> can be found on all podcast providers.<\/p><h2 class=\"wp-block-heading\">Journalists may address further enquiries to<\/h2><p class=\"wp-block-paragraph\">Boris Gr&ouml;ndahl (FMA Media Spokesperson)<\/p><p class=\"wp-block-paragraph\">Telephone: <a href=\"tel:00431249596010\" target=\"_blank\" rel=\"noopener\" class=\"external\">+43\/(1)249\/59-6010<\/a><\/p><p class=\"wp-block-paragraph\">Mobile: <a href=\"tel:004367688249995\" target=\"_blank\" rel=\"noopener\" class=\"external\">+43 676 8824 9995<\/a><\/p><p class=\"wp-block-paragraph\">E-Mail: <a href=\"mailto:boris.groendahl@fma.gv.at\" target=\"_blank\" rel=\"noreferrer noopener\">boris.groendahl@fma.gv.at<\/a><\/p><p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What you ought to know about classic, funds-based or index-based life insurance products.<\/p>\n","protected":false},"author":20,"featured_media":41620,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[80],"tags":[],"class_list":["post-2519122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A life insurance policy isn&#039;t a savings account: latest edition of the FMA&#039;s consumer information series &quot;Let&#039;s talk about money&quot; out now - FMA \u00d6sterreich<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fma.gv.at\/en\/a-life-insurance-policy-isnt-a-savings-account-latest-edition-of-the-fmas-consumer-information-series-lets-talk-about-money-out-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A life insurance policy isn&#039;t a savings account: latest edition of the FMA&#039;s consumer information series &quot;Let&#039;s talk about money&quot; out now - FMA \u00d6sterreich\" \/>\n<meta property=\"og:description\" content=\"What you ought to know about classic, funds-based or index-based life insurance products.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fma.gv.at\/en\/a-life-insurance-policy-isnt-a-savings-account-latest-edition-of-the-fmas-consumer-information-series-lets-talk-about-money-out-now\/\" \/>\n<meta property=\"og:site_name\" content=\"FMA \u00d6sterreich\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-01T11:35:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-01T16:04:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fma.gv.at\/wp-content\/uploads\/2022\/12\/Lets-talk-about-money-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1320\" \/>\n\t<meta property=\"og:image:height\" content=\"440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Michael Bailey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@FMA_AT\" \/>\n<meta name=\"twitter:site\" content=\"@FMA_AT\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Bailey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/a-life-insurance-policy-isnt-a-savings-account-latest-edition-of-the-fmas-consumer-information-series-lets-talk-about-money-out-now\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/a-life-insurance-policy-isnt-a-savings-account-latest-edition-of-the-fmas-consumer-information-series-lets-talk-about-money-out-now\\\/\"},\"author\":{\"name\":\"Michael Bailey\",\"@id\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/#\\\/schema\\\/person\\\/0fc93858fe7814eedc8002775131ee91\"},\"headline\":\"A life insurance policy isn&#8217;t a savings account: latest edition of the FMA&#8217;s consumer information series &#8220;Let&#8217;s talk about money&#8221; 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