Since the 20 1 1 new banking policy, the sales of bancassurance have fallen sharply. Coupled with the double decline in the stock market and bond market in the past two years, the whole life insurance industry has entered a cold winter, and insurance companies are seeking transformation under great performance pressure. Bank insurance accounts for half of life insurance premium income in China. Faced with this situation, product transformation is a way out. So China Life launched a "peace of mind" combination product in the banking channel. During this period, there were many phone calls and letters from netizens. Yinlv.com's analysis is as follows. First of all, look at the "worry-free" products, which are composed of "China Life's worry-free old-age security (dividend-paying)", "China Life's worry-free long-term accident insurance" and "China Life's additional worry-free early payment to critical illness insurance". The insurance periods of "China Life's worry-free old-age security (dividend type)" and "China Life's additional worry-free early payment to critical illness insurance" are 5 years, 6 years, 10 years and 15 years respectively, while the insurance periods of China Life's worry-free long-term accident insurance are 7 years, 9 years, 15 years and 20 years respectively. Payment methods are divided into wholesale payment, three-year payment, five-year payment and ten-year payment. In terms of insurance liability, it provides maturity payment, death insurance, serious illness insurance, accidental death insurance and three major natural disaster death insurance. The interesting thing about this product is that it used to provide two products, but now it has been changed to three products. Separate the liability for accidental injury separately, and add an accidental injury insurance "China Life's Peace of Mind and Worry-free Long-term Accident Insurance". Accurately speaking, this kind of accident insurance is vehicle accident insurance, which means that trains, ships or flights are only responsible for compensation in case of accidents, while the so-called catastrophe accident liability means that trains, ships or flights are only responsible for compensation in case of accidents. In this way, the coverage of accidental injury will be narrowed and then narrowed, and the protection that can be brought can be ignored. Such a guarantee is meaningless, and providing catastrophe protection can only be regarded as a gimmick. In addition, the insurance period of this accident insurance is divided into 7 years, 9 years, 15 years and 20 years, which is very different from the current accident insurance. At present, accident insurance is generally paid for one year and guaranteed for one year. There is no long-term accident insurance. This is mainly because the accident risk is related to the occupation of the insured, and different occupational risk levels are different. Because this kind of accident insurance only covers accidents when taking trains, ships or flights, it has nothing to do with occupational risks, so it can be made long-term, even longer than the duration of the main insurance. However, because the coverage is too small, it is not recommended to buy this kind of insurance. If there is no accidental injury protection, it is recommended to consider comprehensive accidental injury insurance with wide coverage. In addition, I have to say that this bank insurance product is a savings product, so there is little difference between the insured amount and the premium paid. A 30-year-old male, with an annual premium of 10 year, an annual premium of 10000 yuan and a basic insurance coverage of 10633, can provide the highest disease protection. This kind of protection is insignificant for the family protection plan. Fortunately, it is an additional insurance and you don't need to buy it. If you need serious illness insurance, you can choose consumer-oriented regular critical illness insurance and savings-oriented lifelong critical illness insurance. Although China Life wants to continue to be bigger and stronger in the bancassurance channel and make some product innovations, after analysis, it is found that such innovations are of little value to investors. If you have to say that it has some value, you can choose not to buy additional insurance, but only buy the main insurance of pure savings, "China Life's peace of mind and worry-free old-age security (dividend-sharing)". In view of the current high interest rate environment and periodic changes in interest rates, five-year and six-year plans are not recommended, and it will be more reassuring to buy government bonds directly. At present, the CIRC is considering liberalizing the investment channels and allocation of insurance funds, and 10 and 15 years are still worth looking forward to.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.