scholarly journals Expert Study of the Execution of the Terms of an Investment Life Insurance Contract

2021 ◽  
Vol 16 (1) ◽  
pp. 78-91
Author(s):  
O. A. Abelev ◽  
M. M. Vinogradova ◽  
M. G. Nersesyan
Keyword(s):  
Stock Market ◽  
Life Insurance ◽  
Financial Literacy ◽  
Insurance Contract ◽  
Financial Instruments ◽  
Financial Products ◽  
Expert Opinions ◽  
Bank Deposits ◽  
Reference Information ◽  
Expert Study

A significant decrease in bank deposits’ profitability forces citizens to look for more profitable investment options, including purchasing various financial products. One such product is an investment life insurance contract. However, investors’ expectations are not always fully met since dealing with financial instruments, such as options, requires a certain of financial literacy, understanding of the futures stock market’s organization and functioning. Arising disputes are often resolved in court. To obtain answers to economical questions, a forensic examination is appointed and carried out.Forensic analysis on this topic has some features that are discussed in the article. The paper gives a list of objects for expert research and their brief characteristics. The main sources of reference information on quotations of financial instruments are provided. Some concepts and economic categories related to the stock market and derivatives are considered. The Russian and English terms used by the experts during the study are presented and explained.Using an example from expert practice, the authors explain the logic of the analysis of an option contract and show the sequence of actions that makes it possible to calculate the investment income amount. The article justifies the conditions that restrict the experts when carrying out calculations and should be taken into account when forming and studying the expert opinions.

scholarly journals Financial instruments of raising household savings for investment purposes: pragmatic and analytical aspects

2018 ◽  
pp. 33-46
Author(s):  
Tetiana Kizyma
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
Insurance Companies ◽  
Household Savings ◽  
Financial Instruments ◽  
Financial Condition ◽  
Bank Deposits ◽  
State Pension ◽  
Theoretical Foundations ◽  
Credit Institutions

The article illustrates that the process of reforming Ukraine’s economy has been accompanied by an increasing interest in examining and analyzing the major instruments of household savings, as well as ways of their transformation into investment resources. Thus, the purpose of the study is to deepen the theoretical foundations and develop practical recommendations for transforming savings of national households into investment instruments on the Ukrainian financial market. It is formulated that the major instruments of household savings in Ukraine include: bank deposits, funds in the accounts of non-bank financial and credit institutions, cash money in national and foreign currencies, securities, gold, etc. It is pointed out that bank deposits, which are considered to be traditionally more popular and attractive instruments of savings for Ukrainians, not only have significant advantages, but also a number of disadvantages. The non-bank financial and credit institutions, which cooperate closely with the household sector, include credit unions, life insurance companies, and non-state pension funds. However, their activities cannot be compared with banks when it comes to raising household savings. As shown in the article, the insufficient use of such financial instruments as securities by national households is a sign of distrust towards the state and stock market institutions (only about 1-2 % of Ukrainians are willing to invest into stock market instruments). The study indicates that, since the current institutional framework is imperfect, Ukraine’s households cannot function as strategic investors of the national economy. In order to enhance these processes, state executive and administrative bodies should promote national projects aimed at improving financial condition of Ukraine’s households and strengthening their investment presence on the Ukrainian financial market.

scholarly journals The Effect of Women's Financial Self-Efficacy on Financial Product Ownership

2020 ◽  
Vol 23 (2) ◽  
Author(s):  
Njo Anastasia ◽  
Mellicha Jeni Lestaritio
Keyword(s):  
Life Insurance ◽  
Financial Literacy ◽  
Self Efficacy ◽  
Informal Education ◽  
Financial Risk ◽  
Binary Logistic Regression ◽  
Financial Products ◽  
Product Choices ◽  
The Government ◽  
Female Clients

The government is intensively implementing formal and informal education to improve individual financial literacy. This study aims to examine the effect of women's financial self-efficacy on financial product ownership, controlling for contributing to financial literacy, financial risk preferences, and demographic factors. The sample consists of 253 female respondents who live in Surabaya and already have financial products. The data are collected using questionnaires and processed using binary logistic regression. The results show that women's financial self-efficacy significantly affects the choice of financial products in the form of investment, credit cards, and other loans. However, it does not significantly affect the choice of financial products in the form of savings, mortgages, health insurance, and life insurance. This study is expected to provide benefits in developing learning methods to appropriately improve women's financial literacy according to the available financial product choices. Besides, this study is also expected to provide advice to female clients to diversify their investment product portfolios according to their personalities to achieve their financial goals.

ФИНАНСОВАЯ ГРАМОТНОСТЬ КАК КЛЮЧЕВОЙ ФАКТОР В ПОВЫШЕНИИ ФИНАНСОВОЙ КУЛЬТУРЫ // Journal of Student Research, No. 4(5), 2019/ OEAPS Inc. (Open European Academy of Public Sciences); Chief Editor Elisa Boanini - Lion, France. 26.06.2019: OEAPS Inc., 2019. -PP. 55-59.

2019 ◽  
Author(s):  
Александр Сергеевич Федоров
Keyword(s):  
Financial Literacy ◽  
Chief Editor ◽  
The State ◽  
Financial Instruments ◽  
Student Research ◽  
European Academy ◽  
State Program ◽  
Financial Products ◽  
Key Points ◽  
Responsible Attitude

В статье раскрываются ключевые моменты финансовой грамотности как важной составляющей финансовой культуры. Подчеркивается значимость формирования сознательного и ответственного отношения к финансовым инструментам и финансовым продуктам. Рассмотрены вопросы повышения финансовой культуры за счет реализации государственной программы повышения финансовой грамотности.The article reveals the key points of financial literacy as an important component of financial culture. The importance of forming a conscious and responsible attitude to financial instruments and financial products is emphasized. The issues of improving financial culture through the implementation of the state program of improving financial literacy were considered.

scholarly journals An Application of the IFM Method for the Risk Assessment of Financial Instruments

2021 ◽  
Author(s):  
Adrià Pons ◽  
Eduard Cristobal-Fransi ◽  
Carla Vintrò ◽  
Josep Rius ◽  
Oriol Querol ◽  
...  
Keyword(s):  
Risk Assessment ◽  
Stock Market ◽  
Sentiment Analysis ◽  
Value At Risk ◽  
Financial Instruments ◽  
Combined Model ◽  
Single Product ◽  
Financial Firms ◽  
Financial Products ◽  
Future Work

AbstractExternal influences or behavioral biases can affect the way risk is perceived. This paper studies the prediction of VaR (Value at Risk) as a measure of the risk of loss for investments on financial products. Our aim is to predict the percentage of loss that a financial product would have in the future to assess the risks and determine the potential loss of a security in the stock market, thus reducing reasoning influenced by feelings for bank and financial firms seeking to deploy AI and advanced automation. We used the IFM (inference function for margins) method in different market scenarios, with particular emphasis on the strengths and weaknesses of it. The study is assessed on single product level with the skewed studen-t GARCH(1,1) model and portfolio level with t-copulas for the inter-dependencies. It has been shown that under normal market conditions the risk is predicted properly for both levels. However, when an unexpected market event occurs, the prediction fails. To address this limitation, a combined model with sentiment analysis and regression is proposed for further investigation as a future work.

scholarly journals FINANCIAL LITERACY AND ITS IMPACT ON THE INVESTMENT DECISIONS OF WORKING WOMEN

2019 ◽  
Vol 7 (6) ◽  
pp. 554-561
Author(s):  
K Koti
Keyword(s):  
Mutual Fund ◽  
Financial Literacy ◽  
Working Women ◽  
Financial Products ◽  
Bank Deposits ◽  
Gray Area ◽  
The Common ◽  
Level Of Understanding ◽  
Fund Investment ◽  
One Way Anova

Purpose of the study: The study was conducted with the main objective of knowing the financial literacy of women in Dharwad District Methodology: For the research conducted totally of 100 women were interviewed to know their financial ability and proficiency. The statistical tools used where factor analysis, T-Test and One-way Anova. Main Findings: We could find 30 percent of them were comfortable and found that the gray area was mutual fund investment and return of it. The significant investment avenues which were important and not concentrated were bank deposits and gold markets. They are careful during investments; they know very well about the risk involved in markets and the volatility. They keep financial goals, targets and achieve them successfully. The investment is spread across various portfolios to lower the risk by them Applications of this study: The study is very important to know the literacy of women in Dharwad District. Based on the study we can create awareness among the women to make them more ease in financial abilities and usage in financial products Novelty/Originality of this study: The study is unique and researchers or the common person can analysis as to how women think about financial avenues and what is their level of understanding about financial opportunities. Financial institutions can even drive interest in women investing in markets and advisors can make them invest in mutual funds or banking products.

scholarly journals The IFRS 17 contractual service margin: a life insurance perspective

2021 ◽  
Vol 26 ◽  
Author(s):  
W. Yousuf ◽  
J. Stansfield ◽  
K. Malde ◽  
N. Mirin ◽  
R. Walton ◽  
...  
Keyword(s):  
Life Insurance ◽  
Market Value ◽  
Financial Statements ◽  
Insurance Contract ◽  
Accounting Standard ◽  
Insurance Contracts ◽  
Ifrs 4 ◽  
Insurance Perspective ◽  
To Come

Abstract IFRS 17 Insurance Contracts is a new accounting standard currently expected to come into force on 1 January 2023. It supersedes IFRS 4 Insurance Contracts. IFRS 17 establishes key principles that entities must apply in all aspects of the accounting of insurance contracts. In doing so, the Standard aims to increase the usefulness, comparability, transparency and quality of financial statements. A fundamental concept introduced by IFRS 17 is the contractual service margin (CSM). This represents the unearned profit that an entity expects to earn as it provides services. However, as a principles-based standard, IFRS 17 results in entities having to apply significant judgement when determining the inputs, assumptions and techniques it uses to determine the CSM at each reporting period. In general, the Standard resolves broad categories of mismatches which arise under IFRS 4. Notable examples include mismatches between assets recorded at current market value and liabilities calculated using fixed discount rates as well as inconsistencies in the timing of profit recognition over the duration of an insurance contract. However, there are requirements of IFRS 17 that may create economic or accounting mismatches of its own. For example, new mismatches could arise between the measurement of underlying contracts and the corresponding reinsurance held. Additionally, mismatches can still arise between the measurement of liabilities and the assets that support the liabilities. This paper explores the technical, operational and commercial issues that arise across these and other areas focusing on the CSM. As a standard that is still very much in its infancy, and for which wider consensus on topics is yet to be achieved, this paper aims to provide readers with a deeper understanding of the issues and opportunities that accompany it.

scholarly journals PERHITUNGAN PREMI ASURANSI JOINT LIFE DENGAN MODEL VASICEK DAN CIR

2019 ◽  
Vol 8 (3) ◽  
pp. 246
Author(s):  
I MADE WAHYU WIGUNA ◽  
KETUT JAYANEGARA ◽  
I NYOMAN WIDANA
Keyword(s):  
Stochastic Process ◽  
Interest Rates ◽  
Life Insurance ◽  
Insurance Premium ◽  
Insurance Contract ◽  
Insurance Company ◽  
Vasicek Model ◽  
Cir Model ◽  
Premium Payment ◽  
Premium Price

Premium is a sum of money that must be paid by insurance participants to insurance company, based on  insurance contract. Premium payment are affected by interest rates. The interest rates change according to stochastic process. The purpose of this work is to calculate the price of joint life insurance premiums with Vasicek and CIR models. The price of a joint life insurance premium with Vasicek and CIR models, at the age of the insured 35 and 30 years has increased until the last year of the contract. The price of a joint life insurance premium with Vasicek model is more expensive than the premium price using CIR model.

Was sind Schwachstellen und Alternativen finanzieller Bildung?

2021 ◽  
Vol 90 (1) ◽  
pp. 107-124
Author(s):  
Andreas Oehler ◽  
Matthias Horn
Keyword(s):  
Financial Literacy ◽  
Consumer Information ◽  
Quality Information ◽  
High Quality ◽  
Critical View ◽  
Financial Products ◽  
Private Households ◽  
Life Long Learning ◽  
Rules Of Thumb ◽  
High Quality Information

Zusammenfassung: Der Beitrag analysiert sowohl Schwachstellen als auch darauf aufbauend Handlungsempfehlungen und Lösungsvorschläge im Bereich der finanziellen Bildung von privaten Haushalten. Die Analyse der Schwachstellen umfasst eine kritische Sicht auf die Methodik zur Einschätzung finanzieller Bildung, die Beurteilung der finanziellen Bildung insbesondere junger Erwachsener, den Maßnahmenkatalog zur Verbesserung finanzieller Bildung und die Verbraucherinformationen, die sowohl als Voraussetzung für die Anwendung finanzieller Bildung als auch als Grundlage für eine Verbesserung der finanziellen Bildung im Kontext eines lebenslangen Lernens eine zentrale Rolle einnehmen. Zentrale Lösungsvorschläge zielen auf eine praxisnahe Meta-Bildung, die auf ein ökonomisches Grundverständnis, wenige Faustregeln und die relevantesten finanziellen Entscheidungen im Lebenszyklus ausgelegt ist, und ein gesetzlich vorgeschriebener Zugang zu relevanten und hochwertigen Informationen, um die Vergleichbarkeit von Produkten und Dienstleistungen im Bereich der Verbraucherfinanzen für private Haushalte und Informationslotsen deutlich zu verbessern und ein lebenslanges, praxisnahes Lernen zu ermöglichen. Summary: This article analyses weaknesses in the field of private households’ financial literacy and – building upon this – provides recommendations and solutions. The analysis of the weaknesses covers a critical view on the methodology used to measure financial literacy, the assessment of the financial literacy of young adults, the package of measures for the enhancement of financial literacy and consumer information, which play a central role as precondition for the application of financial literacy and as basis for the enhancement of financial literacy through life-long learning. Main recommendations and solutions are to establish a meta-literacy that is built on understanding basic economic principles, few rules of thumb, and the most relevant decisions in the life cycle. Moreover, a statutory access for households to relevant and high-quality information to significantly enhance the comparability of financial products and services for consumers and to enable a life-long learning in step with actual practice.

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