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The state pensions have lost value against the standard of living in Europe with 20%

09 October 2010 / 12:10:45  GRReporter
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    Why though society sees private insurance as the only alternative for better life at old age, it is in no hurry to make private insurance? In Greece, the share of private insurance in GDP is significantly lower than in other European countries. According to the Secretary of the Committee for Consumer Protection S. Spirakos the reason is that the citizens do not trust the private insurers whose business is characterized by a lack of transparency. "The lack of transparent rules allowed in recent years in the insurance market to appear investment products without complying with the basic rules and to inform and explain to customers how those products work," he said. Spirakos called for more flexible insurance packages and giving up the practice of sharp increases in the payments, without this being enshrined in the contracts with the customers.



Tags: private insurance pension payments health insurance Economics Victoria Mindova
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