The deposit interest rate continues to decline in banks and more love to sell insurance

China Times (chinatimes.net.cn) reporter Wu Min Beijing report

Following the decline in personal deposit interest rates in April this year, on September 15, a number of bank deposits interest rates have been reduced again, including the downgrade of 10-15 basis points, including multiple varieties, including current deposits and regular deposits.

Under the background of bank deposit interest rates, some insurance products with financial management functions have begun to become popular. On September 15th, a reporter from Huaxia Times visited a number of banks to consult with principal and insurance. The bank's customer manager introduced the increasing life insurance product of the insurance company to the reporter without exception.

In the first half of this year, bank fund sales revenue declined year -on -year, but insurance agency sales income increased significantly. In the first half of the year, the premium income of the insurance agent of the five listed insurance companies declined to varying degrees, but the premium revenue of the bank security channels rose.

Li Wenzhong, deputy director of the Insurance Department of the Capital University of Economic and Trade, said in an interview with the reporter of the Huaxia Times that there are three main reasons behind the fire of banks selling insurance products. One is the decline in market interest rates, and other wealth management products have declined; Investment risks have increased; the third is that under the continuous strict supervision, the sales behavior of bank insurance channels is more standardized, the sales misleading decreases, and the wind review has improved compared to the previous years.

Disted deposit interest rate banks prefer to sell insurance

"After the new rules of asset management break the rigid payment, all the previous expected income wealth management products have been converted to net worth products. Regardless of the level of risk levels, they are non -capital -keeping and floating income wealth management products. At present And the incremental life insurance of the insurance company. If you have long -term money, it is recommended to allocate an incremental life insurance. You can choose to choose for three years or five years. " After the wealth management product, Xia Qiuyu (pseudonym), the client manager of China Merchants Bank, introduced the increase of life insurance for China Merchants and Life.

According to Xia Qiuyu, incremental life insurance is a kind of life insurance, which can provide life -long physical protection, but the main reason for it is because of financial management attributes. The increase of life insurance has a fixed return rate every year, and the increase in the amount of insurance increases. And the return rate is not affected by market fluctuations and economic environment changes. If you need money, you can also collect it at any time.

Wen Xin (pseudonym), a financial manager of a certain branch of Everbright Bank, recommended the Lifetime Life Insurance of Everbright Yongmingxin. "In addition to regular deposits and government bonds that can promise the capital and insurance, the incremental life insurance of compound interest can be agreed on a 3.5%income in the contract. Employers who invest in radical investment should be equipped with a stable product. . Everbright Yongming Life is sold well now. "

Wen Xin introduced that the payment method of Everbright Yongming Xinming Lifetime Life Insurance is divided into settlement, 3 -year payment, 5 -year delivery, and 10 -year delivery. The Everbright Yongming Xin Guangming Lifetime Life Insurance Demonstration she showed to reporters showed that if a 32 -year -old woman chooses this product, pays 3 years of premiums, pays 50,000 yuan per year, and invests a total of 150,000 yuan. In the 6th year, the insurance can be retrieved by 16.432 million yuan at one time. If it is not taken out, the total interest rate is 196,000 yuan by the 10th year, and the total principal and interest in the 15th year will be 232,500 yuan. By the 23rd years, it can double, and the principal and interest in total is 306,000 yuan. If the 38th year, when the lady was 70 years old, the principal and interest combined with a total of 513,000 yuan. By the age of 80, the principal and interest totaled 723,500 yuan.

"This product can also be taken as needed. But if you remove it in the past 4 years, the principal will lose a certain amount of losses." Wen Xin reminded that the policyholder has a full surrender within 15 days after receiving the insurance contract (deducting it or not The right to exceed 10 yuan) has lost insurance for more than 15 days. According to the above examples, if the insurance is applied in the first year, it can only be retired of about 27,000 yuan; the second year can be retired by about 72,500 yuan; the third year can be retired at about 140,000 yuan; Essence

It can be seen that if the insured person is removed in the first four years, the principal has a higher principal, and compared with the deposit, the insurance product income calculation method is different. If the customer manager does not make it clear, some consumers will think they will be deceived after the insurance.

Yang Zeyun, a teacher of the Department of Finance of the School of Management of Beijing United University, said in an interview with the reporter of the Huaxia Times that insurance products are useful for individuals, but whether it is appropriate, especially whether it is to meet the current and future needs, it is still a problem. Essence Taking the incremental lifelong life insurance as an example, many people buy the increase of life insurance based on the interest that is higher than the bank's deposit. However, in fact, whether the increase of life insurance really meets its needs, if it is originally savings, it can be taken at any time. However, if it is an increased life insurance, it may need to be withdrawn for a long time to obtain a certain amount of benefits, or even the capital.

Li Wenzhong also said that when insured insurance products, consumers should carefully read the insurance terms, especially insurance liability, responsibility exemption, income calculation, cost deduction and other terms to avoid purchasing insurance products that they do not want. Secondly, if you do n’t understand some terms of the insurance contract, you can ask the insurance sales staff to explain and explain that this is their legal obligation. Third, if the purchase process is misleading, it can safeguard its rights and interests in accordance with the provisions of the Civil Code and the Insurance Law.

Banks and insurance companies have exerted the banking insurance business one after another

In fact, commercial banks selling insurance products are no longer new. However, in the past, problems such as the high surrender rate of bank security channels and high incidence of violations have been criticized. Li Wenzhong believes that in order to obtain more commissions, sales staff often compare insurance products with bank deposits and wealth management products, misleading consumers to "deposit orders" and harm consumers' interests. In addition, the insurance products sold in the past banks have basically been short -term wealth management products. In recent years, the insurance industry regression guarantee under the guidance of the regulatory authorities has also changed significantly. The development of long -term wealth management products and guarantee products in the middle period. Yang Zeyun also told the "Huaxia Times" reporter: "In the past, the main products sold by the bank insurance channels were mostly short -term savings or wealth management insurance, and many of them were handling business. The business value was low. It is also facing a high risk of surrender; and the banking insurance business generally has high commission. "

However, in 2019, the regulatory authorities have issued the "Administrative Measures for the Business Insurance Business of Commercial Banks", which standardize the bank insurance channels and regulates agency commissions and agency products (such as annuity insurance and the insurance period for the two insurances should not be shorter than 10 years). "At present, the insurance products of the Banking Channel have gradually shifted to business pursuing value, and most of them are mainly intertwined in medium and long -term delivery. At the same time, additional services are attracted to high -end customers. Generally speaking, the business value of the current bank security products is compared to the past than before. There is a big improvement. "Yang Zeyun said.

Since this year, in the economic environment of interest rates, bank deposit interest rates have been declining. Therefore, some savings -type insurance products such as increased life insurance, two full insurance, etc., can lock the long -term stable income for customers, and have been favored by many customers. The banking insurance business is becoming a common point for banks and insurance companies.

In the first half of this year, the sales revenue of many bank funds decreased year -on -year, while insurance agency sales revenue increased significantly. For example, China Merchants Bank's agency insurance revenue was 8.79 billion yuan in the first half of the year, an increase of about 60%year -on -year; agency fund revenue was 3.695 billion yuan, a year -on -year decrease of about 47%. In this regard, China Merchants Bank explained that it is mainly because the configuration of customer equity products has decreased, the risk -aversion emotions and demand rises, and the sales insurance sales have increased year -on -year.

In the first half of the year, Ping An Bank realized an agency fund revenue of 1.683 billion yuan, a year -on -year decrease of 29.3%; the agency insurance income was 1.065 billion yuan, a year -on -year increase of 26.3%. From the perspective of Ping An Bank, wealth management has become an important direction for commercial banks' business development and upgrading, and also prompted commercial banks to upgrade and reconstruct bank security business from the perspective of wealth management. Since 2021, Ping An Bank has launched the reform of the new banking insurance business, cooperated in depth with Ping An Life Insurance, embedded the agency insurance business into the wealth management system, and opened a new track for the sustainable development of the private wealth business.

On the other hand, in the first half of this year, the premium income of the five major listed insurance companies' insurance agents declined to varying degrees, but the premium revenue of the bank security channels rose. Among them, the insurance business income of Taibao Life Insurance Channel was 17.828 billion yuan, a year -on -year growth rate of 876.3%; the premium income of Ping An Life Insurance and Health Insurance Bank Security Channel was 6.674 billion yuan, a year -on -year increase of 45.09%; The year -on -year increase of 41.9%; the total premium income of Chinese Life Bank insurance channels was 42.609 billion yuan, an increase of 23.7%year -on -year; Xinhua Insurance Bank insurance channel premium income was 311.195 billion yuan, an increase of 7.8%year -on -year.

According to the "2021 Bank Agency Channel Business Development Report" issued by the China Insurance Industry Association, in 2021, the capital flexibility of the incremental lifelong life insurance products has high funds and various functions. status. Lifetime life insurance accounts for seven seats in the top ten annual sales of products. Among the top ten products of the product sales volume, dividend insurance and universal insurance are still the main.

Many bank outlets have become financial supermarkets

Talking about the advantages of banking insurance, Yang Zeyun said that banks have far more outlets than insurance companies' outlets, and banks have become financial product supermarkets and marketing platforms. Insurance companies use bank outlets to sell insurance products to make full use of the advantages of banks' huge customer groups, which can not only reduce sales costs and expenses, but also effectively locate customers.

At the same time, banks sell insurance, can use bank deposit information to accurately locate customers, and carry out targeted insurance product marketing. For example, for medium -to -high net worth customers, long -term savings insurance products that can market functions such as medical care, pension and even property inheritance, and insurance products with strong protection functions such as low -net -worth customers can market accidental damage and short -term health insurance. In addition, Chinese residents have a natural sense of trust in banks. When bank employees (or personnel in the bank workplace) sell insurance products to bank customers, they are more likely to reach transactions.

However, Yang Zeyun also pointed out that the insurance professional knowledge of bank staff is weaker than the employees of insurance companies. If you encounter a staff who do not have professional ethics, with the help of customers' trust in banks, it is easy to deceive customers and describe insurance as a bank deposit, causing more disputes. At present, my country's banking insurance channels are still dominated by the simple agency cooperation between banks and insurance companies. Both parties are the purpose of achieving sales. It is easy to occur in sales misleading and irregular agency behaviors, and it is also easy to cause hidden dangers of disputes with customers in the future.

Not only that, in the banking insurance channel, banks are the specific implementeders of product marketing, and insurance companies are the ultimate responsible for insurance products. Theoretically, insurance companies can dominate the bank insurance channels and have supervision responsibilities. However, in fact, banks have a marketing channel, and insurance companies' supervision of bank sales behavior is difficult to implement. However, the dispute caused by the insurance company should be dealt with and borne by itself. Li Wenzhong told the reporter of the Huaxia Times that the biggest advantage of the banking channel is that it can be able to go up in a short period of time. But the disadvantage is that due to the professional level of the sales staff and the characteristics of the customer group, the main sales of simple financial insurance products are mainly sold. It is difficult to sell complex insurance products, and the sales cost is high, the continuity is poor, and the business value brought to the insurance company is compared Low.

Yang Zeyun believes that banks are financial supermarkets and sales platforms, with customer advantages and trust advantages. For small and medium -sized insurance companies, it is a way and channels for the rapidly upper scale of premiums, so it is still important channels; for large insurance companies with many personal agents, it is also an important channel for sales to sell high -value products to sell high -value products. Essence Therefore, the bank insurance channels will still be an important insurance product sales channel in the future. In addition, with the introduction of the personal pension system of the third pillar, banks will still be marketing channels for personal pension insurance products in the future.

Editor -in -chief: Meng Junlian Editor: Zhang Zhiwei

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