The guarantee system for the life insurance sector is set to be implemented on January 1, 2027. This follows the adoption of a relevant law by the State Duma. The new protection mechanism will mirror existing systems that insure bank deposits and savings in non-governmental pension funds.
Under this system, if an insurer’s license is revoked, obligations under life insurance contracts will still be honored within legal limits. Specifically, up to ₽10 million will be guaranteed in the event of an insured person’s death, and up to ₽2.8 million for other insured events such as injury or illness, as well as upon policy expiration. This limit also covers clients’ premiums paid during the policy term. Refunds will be calculated based on the remaining insurance period and any benefits previously paid.
The law designates the State Corporation Deposit Insurance Agency as the operator of this guarantee system.
All life insurance contracts, including those executed before January 1, 2027—currently around 16 million—will be covered by this system. It aims to increase client confidence in long-term savings through insurance and enhance long-term economic investment.
