The contracts in the Internet are known for their low costs. But insurers are beginning to harden the tone. Boursorama has just announced an increase in management fees on the funds in euros of her life insurance. Explanations.
This is the end of a golden era for the life insurance. All the sliders are converging towards a future more difficult for the envelope favorite of the French. The level of rates, regulation… the noose is tightening gradually around customers.
Last item date : the announcement made by Boursorama to its customers of a change to the grid management costs of his life insurance, as revealed by our colleagues in Cbanque. The information is symbolic as the online bank is synonymous with rates broken.
A context little favourable
a Little background. The offer of life insurance on the Internet, which is deployed from the beginning of the 2000s has contributed to bringing down the cost of the envelope as the new incoming (Altaprofits, Fortuneo, LinXea, Boursorama, ING…) have broken the price. They have distinguished themselves with entry fees and arbitration to 0 % but also with a management fee limited to 0.60 % for euro-denominated funds and 0.75 % on the supports risky, the units of account, for the better-called.
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Problem : these players had expected much more substantial, allowing them to be profitable despite low costs. However, the market for life insurance online is struggling to develop. It still represents only about 3 % of outstanding loans. Combined with a financial and regulatory context more complex, these actors are looking for exit doors.
And it is, therefore, Boursorama Vie, for which the contract is insured by Generali, which made the first announcement, with application from 1 January 2017 for all of its contracts.
cost generic
from this date, the management fees of all the brackets will be standardized to 0.75% per annum, against, until then, is 0.60 % for Eurossima (which has been reported to 2.75 % as of 2015), the 0.70 % for the fund in euros opportunistic Euro-Exclusive (3.15% in 2015) and 0.85 % for the units of account. Boursorama is therefore the costs of its management of the fund in euros, but made an effort on the units of account. As a result, the management led of the contract, accessible at no extra cost, also saw its rate move at 0.75 %.
In addition, the entry ticket to this management mode, set to 1 000 euros will be lowered to 300 euros, which is also the minimum payment to enter the contract. In addition, the bank does not yield to the sirens of the constraints of payment on its euro funds Euro Exclusive, which is always accessible without having to assign a portion of its payment on units of account.
Las, if Boursorama is the first institution to communicate on the subject, others should follow… or act more quietly. All Internet distributors of contracts insured in Generali should opt for a management fee to 0.75 % on the fund in euros. It is rumored that Suravenir and Spirica would be tempted by a similar operation.
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