Rozkład wypłaty w ubezpieczeniu na życie z funduszem kapitałowym a ryzyko finansowe
Distribution of the payments in the unit-linked life insurance and financial risk

Summary/Abstract: Insurance which connects the protective nature and savings is the development of traditional life insurance. Life insurance linked to investment funds (unit-linked) so-called UFK is getting more and more popular in Poland. Contracts of this type are a combination of two products: insurance and investments. These are combined with an investment of insurance premium of investment funds in selected financial institutions. However, this combination creates a problem: correct valuation of UFK contract with both insurance and financial risks. An important element of this insurance is that the insured shall decide which assets to invest and what part of the premium to spend on investments. This was the premise for the proposition of the correct valuation of the unit-linked insurance portfolio and determination of the distribution of its value, and thus an indication of how the insured can control the value of the portfolio and insurance payment. Therefore it was analized if the strategy adopted by the insured, and referring to risk aversion and the level of investment premium determines the changes in the distribution of the insurance portfolio.

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