Struktura pojistného produktu životního pojištění

This thesis presents a comparative analysis of investment life insurance products offered by the five largest life insurance companies on the Czech market—Generali, Kooperativa, NN, Allianz, and ČSOB Pojišťovna. The goal is to identify the main differences between the products and determine which one provides the highest value to the model client defined in this thesis. The analysis combines a qualitative comparison of product structures with actuarial modeling of the expected present value of insurance benefits E(benefit), NPV, and Loss Ratio using CZSO mortality tables and the EIOPA risk-free yield curve, stochastic simulation of the investment component using the Monte Carlo method with historical capital market volatility, and trade-off analysis. The results consistently identify the NN Orange Invest product as the most advantageous choice. It achieves the lowest cost impact, the highest loss ratio, a positive net present value, and the highest median investment account value at maturity. The study also shows that direct comparability of products on the Czech market is hampered by differing methodologies for presenting investment scenarios and an incomparable scope of insurance coverage.