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The Ministry of Finance: up to 50 thousand Israelis in vain to pay for double the insurance for the disability

According to the office for the control of the insurance market the Ministry of Finance, from 40 to 50 thousand Israelis pay two insurance policy on disability.

Unlike the insurance in case of disability or death, where every policy is paid under the policy amount when there are two policies of insurance for the disability insurance companies simply divided among themselves the payment of compensation.

The Agency estimates the extra spending on the insurance for the disability at 30 million shekels a year.

In this regard, the Director of the office Dorit Selinger issued a circular requiring insurance companies and insurance agents beforehand to find out from potential customers, whether they have a policy on disability. Also, the company or agent will be required to provide the client with a document with justifications for the recommendations on acquisition policy.

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The Ministry of Finance: up to 50 thousand Israelis in vain to pay for double the insurance for the disability 05.02.2018

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