Friday, December 3 2010 11:41

Lack of long money in Armenia can be filled by life insurance


ArmInfo. Armenia's economy is short of long money and life insurance can help to form it, President of Rosgosstrakh Danil Khachaturov said during a press-conference today.

He said that people in Armenia should be taught to save their pension funds. For this purpose it is necessary to stimulate life insurance - the main type of insurance in the civilized world. In Armenia life insurance can be stimulated by legislative initiatives and tax concessions.

Armenia's current legislation does not let an insurance company insure life and non-life at one and the same time. So, in order to develop life insurance the country should create companies providing only this type of service - something it does not have for the moment.
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