The liberalization of the upper limit of the predetermined interest rate of dividend-paying life insurance marks the complete establishment of the formation mechanism of life insurance rate.
According to the notice, since June 5438+1 October1day, the assessment interest rate of the liability reserve for dividend insurance shall not be higher than the predetermined interest rate of 3% or the lesser of the two, and the dividend products with the predetermined interest rate exceeding 3.5% shall be reported to the CIRC for approval.
The notice also requires that the death insurance amount of dividend insurance be increased to 0.20% of the premium paid by 65438+, and the minimum protection requirement is the same as that of universal insurance. After the reform, the minimum cash value of dividend insurance products in the first year has generally increased by more than 20%.
The essence of the market-oriented reform of personal insurance rate is: the pricing power of front-end products returns to insurance companies, and the predetermined interest rate (or minimum guaranteed interest rate) of products is determined by insurance companies independently; The interest rate of back-end reserve evaluation is determined by the regulatory authorities according to the yield of "a basket of assets" and the yield to maturity of long-term national debt, and the risk is controlled through the influence and regulation of the back-end on the reasonable pricing of the front-end.
This dividend-paying personal insurance rate policy reform has improved the amount of death insurance and the minimum cash value level, given full play to the risk management and economic compensation functions of the insurance industry, and eased the pressure on national pension and medical care.
If the actual dividend level of the dividend insurance sold by an insurance company cannot reach the mid-range demonstration level for three consecutive years, the company must lower the mid-range and high-end dividend demonstration level, and the lowered mid-range dividend demonstration level shall not be higher than the actual average dividend level of the company in the past three years.
After the reform of dividend insurance rate, the division of labor between insurance companies and CIRC will be more clear, with insurance companies operating independently and pricing independently, and the regulatory authorities focusing on risk control.
China securities journal reporter combed the semi-annual reports disclosed by listed companies and found that among the 582 insurance funds that entered the top ten shareholders of listed companies, 279 were dividend insurance funds, accounting for about 47.94%. These dividend insurance funds come from China Life Insurance and China.
China Pacific Insurance, China Ping An Life Insurance Company of China, Xinhua Life Insurance, Taikang Life Insurance, Taiping Life Insurance, PICC Life Insurance, Centennial Life Insurance, Union Life Insurance, etc. Specific types include individual insurance dividends (individual dividends), group insurance dividends (group dividends) and bancassurance dividends.
The reform of dividend insurance will make the application prospect of insurance funds more optimistic. The average rate of return of the insurance industry in the past decade is around 5.3%, and it is more reliable for the interest rate of dividend insurance products to fluctuate around this standard. After the rate reform, there will be more room for dividend insurance premiums to allocate equity assets and fixed income assets, and more dividend insurance funds may be seen to invest in the stock market in the future.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.