FOCUS SHORT

Policies may grow obsolete

HOLDERS of life insurance policies in Slovakia should check to see whether their policies still cover all their needs.

HOLDERS of life insurance policies in Slovakia should check to see whether their policies still cover all their needs.

“The average life-cycle of a life insurance policy is less than 10 years,” Peter Világi, senior analyst of Fincentrum, told the Sme daily.

Világi cited an old insurance policy signed in 2000 by an 18-year-old client for 15 years. The death benefit was Sk40,000 (about €1,333), and the accidental death benefit was Sk100,000 (about €3,333). The insured paid Sk318 (€10.6) per month. If this policy were still active, the client would receive an insurance payment of €1,327 plus 25 percent as a special bonus from the insured sum in 2015.

“This is really not a policy that fits the needs of a client who is 32 years old today,” Világi said.

An increase in indebtedness due to the fact that now more Slovaks have mortgages than 20 years ago has also affected life insurance. According to the Statistics Office, 80 percent of those in the 20-35 year-old age group who have died were men, which is also the age range in which clients take on mortgages the most.

Top stories

The referendum is said to protect traditional families.
Politics & society

Turnout key to referendum result

EVEN amid heated discussion about the content of a February 7 referendum targeting the constitutional definition of family, experts say the biggest test for supporters of the Alliance for Family (AZR) ballot initiative is whether turnout surpasses the required 50-percent quorum of eligible voters.

26. Jan 2015
One of the drugs to be withdrawn from pharmacies.
Business

Eleven generic drugs withdrawn from Slovak pharmacies

Slovak State Institute for Drug Control (ŠÚKL) on January 28 suspended the distribution of 11 generic drugs and withdrew them from the market.

29. Jan 2015
Krásna Hôrka Castle ablaze.
Culture & lifestyle

Reconstruction on Krásna Hôrka Castle continues

THE RECONSTRUCTION works on the Krásna Hôrka Castle, which was severely damaged by fire in 2012, continue in accordance with the plans, Judita Krajčiová of the Slovak National Museum (SNM) told the TASR newswire.

27. Jan 2015
Tom Nicholson
Opinion

Economy Minister Pavlis has to go

No one with such an obvious conflict of interest has any place in government.

30. Jan 2015