Evaluation of the Feasibly of Equity-Linked Life Insurance Contracts in Iran's Insurance Market Based on Experts' Comments

Authors

1 Associate Professor at the Faculty of Economics of Tehran University

2 Assistant professor at Allameh Tabataba'i University, ECO College of Insurance

3 PhD Student in Financial Economics at Tehran University

Abstract

In regard to the customers who are willing to participate in stock market and insurance market simultaneously, insurance companies introduced equity linked insurance contracts. Equity linked life insurance contracts is a life insurance policy , in which all or some part of premium allocated to a separate account that will be invested in a particular stock or a portfolio . If the portfolio has a positive return, the death benefit increases and if yields are bad, death benefits should be reduced, naturally. In this paper the feasibility of providing equity linked insurance in Iran's insurance market is investigated. For this purpose, analytical hierarchy process (AHP) is used by TELOS method. According to experts , equity linked life insurance is feasible and Guaranteed Minimum Maturity Benefit ( GMMB ) is the most preferable product in equity linked life insurance.

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