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I started recently looking at the saving plans with the insurance firms in Lebanon and where the money has been invested. Few comments:
1- the client does not have a clue where the money is invested. When you ask you do not receive a clear answer. No transparency. No reporting. No relevant benchmark for dividends payments.
2- fees are not clear nor disclosed to the client.
& this is a case study from Allianz SNA
2- fees are not clear nor disclosed to the client.
& this is a case study from Allianz SNA
In this example the 5% dividends payment in a saving policy does not have a reference / benchmark not fees disclosed. The minimum in the policy is 4%.
When asked on the phone the client was told the money was invested in Eurobonds and deposit with Lebanese banks
When asked on the phone the client was told the money was invested in Eurobonds and deposit with Lebanese banks
