$BTC

Life insurance based on BTC is now available in Russia.

Two major Russian insurers, Renaissance Life and BCS Life Insurance, have introduced investment-linked life insurance policies (ILIP) tied to Bitcoin. These products provide wealthy investors exposure to Bitcoin through IBIT BlackRock, without the need to own the assets directly.

Renaissance Life's 'Cryptocapital' policy has a two-year term, a minimum investment of 1.5 million rubles (about 19,000 USD), and offers full capital protection. If Bitcoin prices rise, investors can earn up to 2.4 million rubles in pre-tax profit.

BCS Life offers a similar policy with a three-year term and a higher entry threshold of 3 million rubles, providing greater flexibility through portfolio rebalancing.

Both policies utilize Bitcoin futures contracts traded on the Moscow Exchange, indicating a shift towards regulated financial products linked to cryptocurrencies. The offerings are aimed at affluent clients seeking Bitcoin exposure with capital protection.

The market introduction reflects a broader trend of integrating Bitcoin with mainstream financial instruments, especially following Bitcoin's rise above 100,000 USD and increased regulatory clarity. Other companies, such as While Insurance, have also launched cryptocurrency-based insurance solutions in response to global demand.