Dear Customer,
The activities of foreign pension funds in Iceland have been a focal point in Icelandic media in recent months. Open discussion is of great value to us at Bayern Líf, as it serves our customers and keeps them informed.
However, this discussion has often been rather one-sided, focusing mainly on the costs associated with utilizing foreign pension funds compared to Icelandic ones, without highlighting what they offer customers—such as a 90% guaranteed refund of all contributions, in addition to other benefits.
In light of this important discourse, we at Bayern Líf would like to point out that, unlike Icelandic pension funds, German funds are legally required to disclose all costs. We also want to remind you of the advantages that come with choosing our services.
Double Approval and Supervision – For Your Protection
All our products offered on the Icelandic market have been approved by both German and Icelandic regulators. Thus, they meet all standards set by both countries.
We place great emphasis on trust and transparency.
The label “Made in Germany” stands for quality and is our key promise to you.
Your Future – Our Motivation
Our main goal is to safeguard your savings for the future while ensuring complete transparency regarding all associated costs. We provide honest, comprehensive, and professional advice on all of our products.
Our customers have access to all information, and we welcome any questions or suggestions you may have.
Cost Transparency – Our Promise to You
All costs associated with our products are openly disclosed and listed on the so-called Key Information Document, in accordance with EU Regulation No. 1286/2014. This document contains information about costs, risks, and potential performance over a typical contract period. You can also find the exact costs in your personal contract.
Bayern Líf – A Unique Option
Our solutions are tailor-made, and therefore different from other products on the market:
- Individual management: Bayern Líf manages each contract individually, based on opportunities and risk. The special "lock-in" provision in your contract protects your savings and ensures returns with maximum security.
- Guaranteed minimum: You benefit from developments in the financial markets, while also enjoying a minimum payout guarantee of at least 90% of your initial contract amount. This ensures you will receive a secure payment at the end of your contract term.
- Euro investments: You benefit from the stability of a strong currency for your savings.
- SPARKASSEN-FINANZGRUPPE: We are part of Europe’s largest financial group, over 200 years old and a trusted partner in Iceland for nearly 20 years.
- Customer proximity: We are an insurance provider for both Iceland and Germany. Proximity to customers through our sales partners is a key focus.
- Not-for-profit: We operate on a not-for-profit basis—no dividends are paid to shareholders.
- Over 200 years of experience: We have stood by our customers for more than two centuries. Our contracts are a key part of a secure and meaningful life after work.
Make an Informed Decision
At Bayern Líf, we believe that transparency, comparison, and information are the only ways to make truly informed decisions. Therefore, we ensure that comparisons between funds and institutions are clear and accessible for our customers.
We Are Here for You
If you have any questions about your savings or our products, please do not hesitate to contact us. Your trust is extremely important to us, and we look forward to continuing to provide you with professional and personal service.
Sincerely,
The Bayern Líf Team
