According to a study carried out last week by Aviva Life Insurance, Romanians are keen to surprise the love of their life on Valentine's Day with a small gift, but they don't think about the future.
- A romantic dinner versus life insurance
According to a study carried out last week by Aviva Life Insurance, Romanians are keen to surprise the love of their life on Valentine's Day with a small gift, but they don't think about the future. The most popular gifts that those interviewed had considered were an invitation to a meal or a cosmetic product.
The average amount spent for this occasion could represent the annual premium for a life insurance policy insured for up to 30,000 RON1. 39% of those surveyed are preparing to spend an amount of between 50-100 RON for Valentine's Day, while 25% will spend between 100-200 RON.
Of those surveyed who said that they would be giving a gift to their loved one on 14 February, 55% take out credit, but of these, only 75% have life insurance policies which cover the value of the credit.
A life insurance policy insured for 30,000 RON would require an average annual premium of 75 RON for a woman of 30 and 109 RON for a man of the same age.
In Romania, only 13% of the population have life insurance policies, whereas the average in central and Eastern Europe is 21%2.
"Valentine's Day is the time when we think of our loved ones and just how important their support is throughout our lives. Our survey demonstrates that the Romanians are romantic and spend their money accordingly, but they don't consider protecting their partners through life insurance policies. The Czechs spend on average 7 times more than the Romanians on insurance policies, whilst the Hungarians spend 4.7 times more and the Poles 3.5 times more3. Life insurance is accessible and represents one of the most important gifts that we can give to those we love - a secure future from the financial point of view.", according to Shah Rouf, CEO of Aviva Life Insurance.
-ends-
For further information:
Andi McLennan
Director Market Development
Telephone +40 21 203 83 00
E-mail andi.mclennan@aviva.ro
Notes to editors:
1Based on age, state of health or other risk factors and acceptance for an Aviva product with standard conditions
2Aviva Consumer Attitudes to Long Term Savings Report January 2006. Research Romania v. CEE region (Turkey, Hungary, Czech Republic)
3Source: Swiss Re Sigma nr.5/2006
- The findings from this survey can only be reproduced if Aviva Life Insurance is attributed as the exclusive source.
About AVIVA
Aviva is the fifth largest insurance group* and the biggest provider of insurance products in Great Britain. The group is one of the market leaders for life insurance and pension products in Europe, recording sustained growth in the area of long-term savings on the markets of Eastern Europe and Asia, Australia and the USA.
Aviva's portfolio is made up of long-term savings products, private pensions, administration of investment funds and general insurance policies. The group administers 434 billion euros' worth of assets, representing the money of over 35 million clients worldwide.
Aviva Life Insurance officially started trading on 11 October 2000, and the company currently boasts a sales team of over 1,000 consultants and managers and a network made up of 19 agencies and 4 development centres.
* In terms of the volume of gross premiums reported in the fiscal year ending on 31 December 2005.