The temptation of "compound profit 3.5%": the fiery and hidden concerns of the incremental life insurance

Southern Finance All Media Reporter Zheng Jiayi Beijing report

"Blow the entire network, remove the shelves at the end of the month. 3.8%of the increasing amount of the insured amount, the lifelong value is locked! Buy the educational fund, you must take the time to consider the XXXX incremental life insurance."

As the hottest and most controversial life insurance products in the first half of the year, the product design, actuarial assumptions, purchase strategies, and sales of sales of life insurance have received widespread attention from consumers.

As of now, the number of notes involving the increase of life insurance in the Little Red Book Platform has exceeded 20,000. The content involves purchasing strategies, product sales, lightning protection guidelines, and complaints. The topics such as "incremental lifelong life insurance ranking", "increased life insurance", "Is the incremental life insurance worth buying" and other topics have caused heated discussions.

On September 23, the China Actuary Association published an article "Risk Tips: Be Kuai Propaganda Propaganda for Renovation Lifetime Life Insurance" that at present, some insurance marketers are suspected of confusing the growth rate of insurance and investment yields in the process of selling lifetime life insurance related products. Connect consumers should be vigilant when ignoring the misleading publicity such as losses in the early life insurance.

Why do you "go out" for the increase of lifelong life insurance? Is it true that some products with up to 3.8%of the insurance and compound interest are also related to the actual income of insurance products? What should consumers focus on the product purchase process, and what misunderstandings are easy to face?

The 21st Century Economic Herald reporter comprehensively combed product information and expert opinions on the definition, use, popular reasons and potential risks of incremental life insurance on the market.

Interest rate downward medium and long -term insurance products are hot -selling

The popularity of life insurance for life insurance reflects the demand for medium and long -term stable income to a certain extent.

On September 15th, ICBC, Agricultural Bank of China, Bank of China, Construction Bank, Bank of Communications, and Postal Savings Bank issued a deposit interest rate to reduce the announcement; since then, head agricultural banks such as Bank of Shanghai, Bank of Beijing, and Shanghai Rural Commercial Bank Commercial Bank has followed up the interest rate.

The bank deposit interest rate is reduced and the financial management breaks the rigid redemption, and the high net worth individuals gradually turn the investment attention to the medium and long -term insurance products such as annuity insurance and the increase of lifelong life insurance.

The "2021 Banking Channel Business Development Report" released by the China Insurance Industry Association shows that at present, the main selling products of the banking channels are further concentrated. Standing out, occupying the absolute mainstream of the banking security market.

Song Zhanjun, deputy secretary -general of the China Insurance Institute of Beijing University of Technology, said that increasing life insurance has become an Internet celebrity product in the insurance market in recent years, which essentially meets the dual needs of customer protection and financial management, especially the relatively stable wealth management yields.

As a category of life insurance, the term of life insurance insurance for incremental life insurance is lifelong, and the insurer dies or full disabled as the insurance premium. The difference between the two is that the cash value of the incremental lifelong life insurance policy can continue to grow. Customers have the increase in insurance amounts and death guarantee year by year. Traditional lifelong life insurance focuses on risk guarantee functions, and the increase of life insurance for long -term life insurance.

The industry generally believes that incremental life insurance has both protection and savings functions, which can provide customers with a stable and sustainable growth value guarantee, have strong anti -risk capabilities, and have clear product benefits, and can target wealth inheritance. On the whole, the increase of life insurance is more suitable for medium and high net worth customers, which can meet the needs of long -term savings and asset inheritance.

In reality, what is the financial management attribute of incremental life insurance?

Taking an incremental life insurance that claims to be removed soon. According to the salesperson, the underwriting of this product is loose, and only one health notification content has an accidental high insurance amount of holiday transportation, and supports intergenerational insurance. Its minimum premium is 5,000 yuan. The payment method is to pay, 3 years, 5 years, and 10 years of payment. At the same time, it supports insurance reduction. In terms of cash value, taking 100,000 yuan in men of 30 -year -old men as an example, the cash value of this product is the first, 10 years, 20 years, 30 years, 40 years, 50 years, 60 years, and 70 years, respectively. , 139830 yuan, 197180 yuan, 278,100 yuan, 392220 yuan, 553170 yuan, 780160 yuan and 1100,300 yuan.

The reporter's consulting insurance intermediary agency learned that the more popular increased life insurance products on the market can achieve the cash value transcendence within 10 years. The cash value of life insurance products is often much lower than premiums. At this time, consumers' surrender of insurance is likely to cause property losses.

Song Zhanjun said that the wealth management attributes of incremental life insurance need to be judged by the current customer's investment yields. "From the calculation of cash value, the internal income can be calculated, which is equivalent to annualized yields. From the perspective of ten years or even longer, lock -up financial products with an annualized return rate of about 3.3%are competitive." Song Zhanjun said.

"At the same time, the incremental lifelong life insurance is also responsible for the function of death, but this part of the premium insurance amount is low. At present, the main function of this product is financial management, which has certain death protection. And, with universal insurance and dividend insurance Compared with the new life insurance, the incremental life insurance income is determined, and the insurance contract is written, and the contract guarantee is clearer. "Song Zhanjun said.

There are problems such as misleading sales

Why do insurance agents always highly recommend increasing life insurance products in each social platform, while consumers have mixed evaluations of such products? Song Zhanjun said that the main problem currently facing incremental life insurance is the one -sided sales of some institutions and sales personnel, confusing the growth rate of insurance and investment yields, and not informed the customer's surrender of the principal losses in the past 5 years.

On September 23, the China Actuary Association issued a risk prompt to explain the common misleading of life insurance sales in increased life insurance. Specifically, there are mainly confusing insurance growth rates and investment yields, inducing consumers to surrender in the middle and exaggerate their financial management attributes.

First, confuse the growth rate and investment yield. The China Actuary Association pointed out that "3.5%of the incremental life insurance compound profit" is a common discourse in sales and propaganda, but 3.5%of the compound interest refers to the growth rate of insurance, not investment yields, and has nothing to do with actual income.

The insurance amount of life insurance refers to the amount of insurance that the beneficiary can receive when the insured person or full disability; the investment profit margin is the ratio of the total amount of annual net income to the total amount of investment in the plan. Essence Song Zhanjun said that if consumers want to measure the investment yield of incremental lifelong life insurance, the data that should be referred to is the cash value of insurance products, that is, the amount of surrender of the life insurance policy, not the insurance growth rate.

"Some institutions will confuse the insurance growth rate with investment yields, on the one hand because the regulatory policy does not allow promises or excessive publicity investment yields; on the other hand, it also echo the changes in deposit interest rates and customer wealth management needs." Song Zhanjun said, "From the from The perspective of investment yields, the yield of incremental life insurance is different each year. Consumers must strengthen their comprehensive understanding of this product yield. "

Secondly, neglect its guarantee function during the sales process and overreactrate financial management attributes. According to the main function of the China Ectulator Association, the main function of incremental life insurance is to provide death or full residual protection. The elderly and savings functions are relatively small. Some insurance agents will increase the life insurance product ratio wealth management products in the sales promotion. The guarantee function is to induce insurance consumers to surrender halfway. "Insurance consumers want to buy insurance products to meet the needs of pension and savings, or they should choose a more matching function and provide annuity insurance or two full insurance products for survival payments."

In addition, the risk reminder did not make truth from the sales process, pointing out that the losses in the early life insurance preliminary insurance were large. The China Actuary Association said that the increase of life insurance is not "stable and not compensation." "If insurance consumers surrender in the middle, they can receive the cash value of the insurance policy. The cash value of the increased life insurance is generally lower than the cumulative premiums in the first 5 years, and then they will gradually exceed the cumulative premiums."

According to the China Actuary Association, incomplete statistics, if consumers choose to surrender the insurance in the first year after the increase of life insurance products in the insurance increase, it will lose 10%-60%of the premiums; Between 2%-2.5%.

Song Zhanjun said that in response to the above misleading sales issues, the regulatory authorities can remind consumers to increase the product characteristics of life insurance through risk prompts and other methods to regulate the propaganda of insurance companies; For long -term protection and investment products, short -term surrender will suffer huge losses.

In addition to the above misleading sales issues, the reporter noticed that during the year, many life insurance companies removed their "Internet celebrity" incremental life insurance products, and it was unknown to re -launch time.

Industry insiders said that the removal of related products may be related to the iteration and update of the product itself, or it may be related to the risk of spread risks and short cash value of long -term insurance and short cash value.

"In order to enhance the competitiveness, individual insurance companies will increase the cash value of the incremental life insurance in the past few years. Consumers who have facilitated short -term surrender will attract 'short money' instead of 'long money'. The risk of short -term investment violates the concept of medium and long -term investment. "The industry insiders said that" too high cash value is similar. This can attract consumers and enhance competitiveness, but in the long run, insurance companies may have a difference in interest, which is not conducive to long -term stability. Management. "

In February of this year, the CBRC also pointed out in the "Negative List" (2022 Edition) of Personal Insurance Products (2022 Edition) "that the increase in the amount of some incremental life insurance exceeds the pricing rate, and there are serious misleading hidden dangers; In addition, there are disguised risks to break through the pricing interest rate in disguise.

(Coordinating: Ma Chunyuan)

- END -