Recently, the 21st Century Business Herald reporter learned from the industry that some insurance companies, including Taikang Insurance, will officially stop selling 3.0% increased life insurance on June 30, and will launch an increased life insurance with a predetermined interest rate of 2.75% on July 1, and the new product has been successfully reported.
It is conducive to reducing the spread loss
Some insiders believe that this time some insurance companies cut the scheduled interest rate of their products to reduce the risk of interest spread loss.
In recent years, China has entered into a low interest rate environment, and the bank deposit interest rate has undergone multiple rounds of downward adjustments. At present, China's deposit interest rate has entered the "2" era. Against this background, insurance companies have also fully removed 3.5% of scheduled interest rate products last year, and re launched a batch of 3.0% scheduled interest rate products, only one year later, Another insurance company chose to "synchronize" the predetermined interest rate of the product with the deposit interest rate again.
It is reported that this time some insurance companies cut the scheduled interest rate of their products mainly to meet the company's risk control requirements. Historically, the risk of interest spread loss is the number one "culprit" endangering the healthy operation of insurance companies.
The risk of interest spread loss refers to the loss caused by the rate of return on the investment and utilization of insurance funds being lower than the average predetermined interest rate of the effective insurance contract. In short, the investment income of insurance companies cannot cover the cost of capital. The risk of interest spread loss may affect the cash flow and solvency of the insurance company, further leading to the unsustainable operation of the insurance company and harming the interests of the insurance company and the applicant.
This kind of risk is mainly generated in the field of fund utilization in the operation of life insurance companies. Especially in China, bond investment accounts for a relatively high proportion of insurance fund utilization, about 40%; The proportion of equity investment is low, usually between 10% and 20%. In the market environment of low interest rates, the pressure on the insurance investment side will inevitably increase, and the risk of interest spread loss will also increase.
Consumers should choose rationally to avoid misleading "stop speculation"
However, for consumers, every reduction in the predetermined interest rate of life insurance products will trigger a wave of "speculation stop tide". In this regard, some industry experts remind that the essence of insurance products is risk protection, rather than investment and financing, and consumers should not blindly buy insurance products in order to excessively pursue income. The main function of incremental life insurance is to provide death or total disability protection. Consumers should give full consideration to the liquidity of the product. Its 3% predetermined interest rate does not represent the actual yield of incremental life insurance, and early surrender may also cause losses.
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