Abstract
The spectacular growth of life insurance in France since the 1980s largely stems from its transformation into a mainstream financial product. Within a context of a strong French appetite for savings, lower fees, higher transparency and better performance of life insurance contracts drove the industry’s success. However, life insurance almost becomes a necessary «space of freedom» for an individual to offer protection to his or her kin, or a means to manage ones inheritance. Moreover, it is an essential instrument of his financial planning for retirement. The success of life insurance products also came along with the reshaping of the industry as a great number of contracts now sold through the banking system. Moreover, the current low interest rate environment could have adverse effects on the long term performance of life insurance participating contracts and potentially prompt a move towards unit-linked products based on more profitable, though riskier, assets. JEL classification : G22
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