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26/01/2009 Taken care of with the Insurances like investment product
During the last ones they have been commercialized in product Spain thousands structured guaranteed through different figures, Deposits essentially Structured, Guaranteed Bonds (famous by Lehman Brothers) and Bottoms.
If we remembered these products granted to the client a guarantee on the main one of the investment reason why they considered of low risk and a variable yield, ligature to some index of variable rent, inflation, raw materials or any other alternative instead of a fixed interest.
Lately we are attending that these products instead of to offer itself under the previous figures, Deposits, Bonds or Investment funds, are becoming through Insurances.
With the object of the client he is like anyone of previous products, but in case of death the heirs receive an amount minimally superior to the contracted amount (this is necessary so that it is an insurance). A typical example would be “Divides and You will win� that Banco Santander has commercialized actively.
Normally, the insurances as investment has been used for the commercialization of Temporary and Safe Life Rents of Saving that necessarily they must be made thus.
The insurances have confused clausulado much more that the rest of products since they are forced to regulate general and particular conditions of the contract and to pick up concepts difficult to include/understand like in maximum interest, expenses,… but then, so that these products are used to commercialize Structuring? and nonDeposits or Bottoms that are much more simple
Very simple, the new European Directive of Financial Markets MIFID picks up a series of obligations of investment the marketing product organizations to protect the small investors and that would allow them to protest in case of or not to be informed not to be an agreed product to its needs or to have too much risk. Within the products that are regulated by this directive they are not the Insurances so the organizations can continue offering what they want through these, and the clients will not be able to protest (if they consider therefore it) using this new norm.
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