Swiss Life Manager Arnold
“Nobody should sacrifice their retirement savings now”
05/05/2023, 4:00 p.m
Young people pay more attention to their retirement provisions. The “Generation Savings Plan” no longer parks their savings in the savings account. She puts it in ETFs – and in life insurance.
Young people are increasingly taking their retirement provisions into their own hands. The life insurer Swiss Life is also noticing the increased interest. Because not only stocks and ETFs are booming, but also unit-linked life insurance – and that despite inflation.
“People have understood that in such a situation they shouldn’t sacrifice their old-age provision,” says Jörg Arnold, head of Swiss Life Germany, in the podcast “The hour zero”. “Many are very rational.”
This is also reflected in the industry figures. Allianz has reported record profits, Zurich has doubled sales – and Swiss Life achieved record sales of 1.8 billion euros at group level.
“We are experiencing an unbelievably large need for advice on financial issues – also after old-age provision,” says Arnold. However, many people are still either severely under- or over-insured: “Some would rather insure their car than themselves.”
Inflation hasn’t changed the mood to save, even if customers have less disposable income. “People have understood that in a situation like this they shouldn’t sacrifice retirement planning,” Arnold said.
Listen in the new episode of “The Zero Hour“
- How Swiss Life looks at the Credit Suisse debacle
- Why neobrokers hardly touch the business model of insurers
- Who needs advice on financial matters and who doesn’t
All episodes can be found directly at RTL+, Apple or Spotify or via Google.