Insurance product shorter more selling, the PBoC intends to release specifications

⊙ Reporter Huang leilei 0 edits Mr. Yu Yong an will involve a number of life insurance (life insurance and health insurance) product adjustment draft, issued recently by the China insurance regulatory Commission to the Council and the OCI from around life insurance company. Among them, endowment insurance, life insurance, insurance payment for the first time not earlier than 3 years shall not be less than 5 years during such express provision, thrown inside a hot in insurance companies. "We have seen a file, which is part of the insurance products " light heavy investment protection " rectification of the situation. "Even though insurance companies are, in General, respondents believed that this regression is to strengthen the insurance products protect and enhance the profitability of a valid move, however, from the operational level, it means that premiums may be some impact in the short term. Recommended reading insurance weekly: Storm safe involvement haixin shares owned pipe investigation storm disaster danger-don't forget to vote Wade was the protection of health is expected within months of funds granted 1 billion insurance product specification for more selling short China insurance regulatory Commission to be more variable annuity insurance into a bear market life-saving straw tendencies on the other side of risk capital investment balance? Decipher the trader password, grasp the main trends in insurance product "sold the shorter" selling life insurance products currently on the market, especially the endowment insurance, was showing a "receiving increasingly early in the period, the payment period shorter" trend. Insurance product "sold the shorter" produce of this trend, is rooted in an insurance company to cater to their consumers to see gains early psychological. Especially since the beginning of 2010, quick return, short payment period of the product as a weapon of the insurance market. Not just small and medium-sized insurance companies, and even the insurance Giants have been offering these products, and use this as a "flying start" 's main product. Hot degrees can be seen. But people in the industry, this "meet" somewhat blindly. The reason is that short payment period, the recipients of early product, although will promote sales but lower product margins. This currently also exposed on the part of the insurance companies in product design in a "heavy investment in light guarantee" errors, and the China insurance regulatory Commission to product return guarantees that deviated from to the main keynote. The cart before the phenomenon has attracted the attention of regulators. In insurance regulatory Commission this issued of this copies on < personal insurance company insurance terms and premium rate management approach > several problem of notification under in the, on clear requirements "insurance company development of co-existence insurance should meet following conditions: survival insurance first paid shall not early Yu policy force Hou 3 years; insurance during shall not less than 5 years; cast even insurance co-existence insurance and universal insurance co-existence insurance was insurer for adults, in policy issued Shi of death insurance amount shall not below has cross premium or policy account value of 105%. "Do not meet the provisions of the insurance clauses and insurance rates, insurance companies be modified by the year 2012 and reported to the China insurance regulatory Commission again for the record. Pain in the short term the long-term favorable "on investment and even insurance and universal life insurance provisions of the endowment insurance and the like before, so this has no impact on the market. May have a short-term impact is " insurance payment for the first time not earlier than 3 years of life, period of insurance shall not be less than 5 years " the two provisions, which may focus on the impact of individual distribution, which may focus on the impact of channel banks and insurance companies. "Interpretation of one industry source said. One industry senior persons told reporter, currently survival insurance first paid early Yu 3 years of fast return type products about accounted for all co-existence insurance of proportion 20% to 30%, main concentrated in a insurance channels; and insurance during ≤ 5 years of co-existence insurance products is main concentrated in silver insurance channels, which a home in the funded life insurance Giants on main push had this class products, but a insurance channels of co-existence insurance products of insurance during usually are in 10, and even 20 years above. Stakeholders interviewed several life insurance companies and investment banks believe that the short term, the adjustment or sale of some life insurance companies have a certain impact, but to improve the profitability of insurance products in the long term. "Insurance products should emphasize security, instead of and fund investments, brokerage products to fight. "In the view of industry, China's insurance sector-extensive, explosive growth phase is over, connotation mode of growth will be necessary for the development of large insurance companies. Future insurance company needs more sales-oriented training, productivity improvement and insurance product differentiation and development, rather than caught in the homogenization of competition. (function(){varobj=null;if(document.getElementById('page2011nav')){obj=document.getElementById('page2011nav');} elseif(document.getElementById('arctTailMark')){obj=document.getElementById('arctTailMark');} if(obj!=null){varstr='';try{varoo=obj.previousSibling;while(oo.nodeType!=1|| oo.innerHTML.replace(/\s|\u3000/g,'').length==0){oo=oo.previousSibling;} if(oo.nodeType==1&&oo.tagName.toLowerCase()=='p'){varspan=document.createElement('span');span.innerHTML=str;oo.appendChild(span);}} catch(e){}}})();