ESTONIA: Interest in life insurance is growing

1 November 2021 — Marina MAGNAVAL
According to the statistics of the Association of Estonian Insurance Companies, 149,600 life insurance contracts were in force by the end of 1H2021. Compared to two years ago before the pandemic crisis, 5,500 contracts have been added.

As Mart JESSE, CEO of the Association of Insurance Companies, noted - people now think more about their health and family well-being due to the spread of the coronavirus. "Despite the unstable time, life insurance continues to grow, while there is still much room for development compared to Western Europe. Life insurance is a way to get financial security in the event of an accident, serious illness or death", said JESSE.

For the last 10 years, the number of life insurance contracts has doubled, while paid claims has even tripled. At the end of 2010 there were 65 thousand valid life insurance contracts for a total of EUR 7 million, at the end of 2020 - already 147 thousand valid contracts for a total of EUR 21 million.

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