Surrender period to pay off the life insurance business in transition

In the face of frequent mass surrender, regulatory risk is to strengthen supervision efforts to promote insurance companies from high-risk financial management-and short-term wholesale pay-growth products, low-risk to the traditional life insurance, pay period of growth products Change.

So far in September in Tianjin, Shandong and other places the lives of some foreign-funded life insurance companies and insurance companies start to appear and surrender the collective incident, the authorities started to strengthen supervision of risk. According to sources, since the second half of this year regulatory authorities time and again to convene a meeting insurance companies, "hard" requiring the company to transition, in which the main emphasis on "improving the product structure of the payment" in transition. In the product mix, the regulatory authorities are actively promoting the Bank and Insurance channels of insurance products, from high-risk financial-guarantee insurance to the more traditional function of the changing life insurance. Among them, some of the high-risk financial products, insurance, regulatory authorities have been or will be ordered to stop selling or marketing restrictions.

From the structure of pay, the higher the risk of short-term wholesale payment type of payment will be step slam the brakes. Regulators will have to pay part of the wholesale-type short-term moratorium on the sale of insurance products, and strictly control the payment of the existing short-term wholesale insurance products and the size of the sales, for examination and approval of new products will be more cautious. At the same time, regulatory authorities will also make greater efforts to promote a view to pay-and long-term wholesale sales of insurance-payment, making it a high-risk environment, the insurance companies for long-term steady development of the main products.

The authorities have made great efforts to promote the transition into the part of insurance companies. "Recently, our company developed on the payment period for up to three years or five-year period of payment products." In a joint venture insurance company who told reporters that, while the other insurance companies are also actively preparing for the launch period of 3 years or more, And even more than the 10-year payment period, for the period of payment products have also increased marketing efforts, particularly in the banking insurance.