Young people should also take out long-term or unexpected risk insurance

The spread of technology is also clear in the insurance sector. According to K&H data, the popularity of insurance that can be concluded digitally is unbroken. In the case of K&H term life insurance contracts, the proportion of contracts concluded via mobile banking has been more than 40 percent since their launch three years ago. Pension insurance has not even been available in K&H’s mobile banking for a year, but this figure is already significant, at 26 percent, meaning that today every fourth pension insurance contract is concluded via mobile. K&H aims to help its customers achieve their financial goals easily and quickly with digital solutions, ensuring long-term stability and protection against unexpected events.

“The age distribution shows an interesting pattern in the case of digital pension insurance. Pension insurance is mostly taken out on mobile by the 35-50 age group, their share exceeds 70 percent. This group typically already has a more stable and higher average income, which makes it possible to start and maintain retirement savings. Their decision reflects a conscious need for long-term thinking and maintaining a standard of living. The gender distribution here is almost 50-50 percent,”

– said Pálma Székely, Head of Sales and Life Insurance at K&H Insurance.

In the case of digitally purchased life insurance, the 30s and 40s have the highest share, at 33 and 27 percent, respectively, followed by the 50s and 20s at 22 and 18 percent, respectively. This broader spectrum shows that younger people (20s, 30s) recognize the importance of protection against loss of income as soon as they become actively employed. An unexpected illness, accident or unfortunate event can place a serious financial burden on the family, and even make future plans impossible for singles. In this case, life insurance creates the basis of financial security, providing protection in the event of loss or decrease in income. The high share of the 50s indicates that even those at the peak of their careers are taking care of protecting their future and that of their loved ones.