Sberbank life insurance’s diability payouts overshoot RUB 5 bn in three years

Sberbank life insurance has paid over RUB 5 bn on products that include the risk of disability to 24,000 clients in less than three years. By early November 2021 alone, over RUB 1.7 bn was paid, which is more than in 12M 2019.

Evgeny Shchelkanov, managing director, Sberbank life insurance:

"December 3 is International Day of Persons with Disabilities. According to statistical data, more than 11 million people have some form of disability in Russia alone. The challenge for insurers is to provide financial protection and coping tools in the event of a disability. This money can be used to pay for medical services, repay loans, or used in any other way."

Life and health can be protected through an insurance policy. Most Sberbank life insurance programs cover disability risks, including insurance for personal loans, mortgages, and endowment life insurance.

Credit life insurance (insurance for general purpose loans and mortgages) accounted for most of the company's disability risk payments in 2019-2021 and stood at RUB 4.5 bn.

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