Recent Developments in Insurance

In recent years, significant developments have been recorded in Turkish insurance, especially in individual products. In this article, we will focus on this development by focusing on private pension and unemployment insurance.

Current Situation in Private Pension

In economies with a shortage of savings, policy makers are developing various solutions to deal with this problem. The solution having the awareness of Turkey as well as the development of economic policies related to this issue and unlike the typical public pension system was. Official institutions define this system as follows:

The private pension system has been established as a supplement to the existing public social security system. Its main purpose is to ensure that the regular savings they make throughout their working life are directed to investment, and that the level of welfare they have during their savings continues during the retirement period with the accumulation that will occur. The system is based on voluntary participation.

According to the Pension Surveillance Center, which is the official data provider at BES, as of March 13, 2015, the total fund amount of those participating in the system has exceeded 35 billion TL and the number of participants is 5.3 million. Since the number of people participating in the system has increased by 200 thousand since the beginning of the year, the total amount of funds has increased to TL 1.25 billion.With 13 March 2015 , Garanti Pension , which has managed to become the most preferred insurance company for private pension , offers you the standard of living today. offers you a comfortable and happy retirement period that you can sustain, away from economic concerns.

Unemployment Insurance

Unemployment insurance ; While working in a workplace, it is an insurance branch that operates with an insurance technique, preventing them and their family members from falling into a difficult situation by partially covering the income losses they suffer, even if they have the desire, ability, health and competence to work. Thanks to this insurance, employees can continue your working life without experiencing the stress of losing their job, which has become the inevitable concern of our age, and ensure that your payments are covered until you find a new job if they are unemployed.

In a sense, Turkish users have an important demand for this type of insurance, which can be understood as income insurance insurance. Users can avoid the various payment risks when they lose their jobs with different products offered by insurance companies. These insurances include assurances such as providing income insurance, credit card debt and credit payments. Turkey Insurance, Reinsurance and Pension Companies According to the Association monthly benefit close to 100 thousand people from this type of insurance.

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