The payment method is more flexible. Two interest rate risks are optional. After the age of 60, you can receive it
The China Banking and Insurance Regulatory Commission issued the "Notice on Expanding the Pilot Scope of Exclusive Commercial Endowment Insurance". From March 1, 2022, the pilot area of exclusive commercial endowment insurance will be expanded nationwide.
On the basis of the original 6 pilot companies, endowment insurance companies are allowed to participate in the pilot program of exclusive commercial endowment insurance.
From March 1st, flexible employment such as express riders, takeaway brothers, online car-hailing drivers, and Taobao stores across the country can choose this exclusive commercial pension insurance with more flexible payment methods and variable payment amounts.
6 pilot companies
Covering nearly 50,000 policies
On May 15, 2021, the China Banking and Insurance Regulatory Commission issued the "Notice on Launching the Pilot Program of Exclusive Commercial Endowment Insurance".
Starting from June 1, 2021, a pilot program of exclusive commercial endowment insurance will be launched in Zhejiang Province (including Ningbo City) and Chongqing City. The pilot period is tentatively set for one year.
Flexible payment methods are adopted for employees in new industries, new formats and various types of flexible employment.
Insurance companies participating in the pilot program include: People's Life Insurance Company of China, China Life Insurance Company Limited, Taiping Life Insurance Company Limited, China Pacific Life Insurance Company Limited, Taikang Life Insurance Company Limited, and New China Life Insurance Company Limited.
The China Banking and Insurance Regulatory Commission said that since the launch of the exclusive commercial endowment insurance pilot program, the overall operation has been stable and the social response has been good.
As of the end of January 2022, the six pilot companies have underwritten nearly 50,000 insurance policies, with a cumulative premium of 400 million yuan, of which nearly 10,000 employees from new industries and new formats such as couriers and online car-hailing drivers have insured.
Regarding the purpose of expanding the scope of the pilot, the China Banking and Insurance Regulatory Commission stated that more consumers can have access to exclusive commercial pension insurance products with strong pension functions, and further guide and cultivate the concept of pension financial consumption; it is conducive to promoting the pilot insurance companies to further explore commercial pension products. Experience in insurance development, promote and standardize the development of the third pillar endowment insurance, and better meet the needs of the people for multi-level endowment security.
This pilot expansion is reflected in two aspects. On the one hand, the pilot area has been expanded from Zhejiang Province (including Ningbo City) and Chongqing City to the whole country; on the other hand, in addition to the original six pilot life insurance companies, pension insurance companies are allowed to participate in the pilot program. .
Exclusive commercial pension products that have been launched include: PICC Life Insurance - Fushou Niannian, China Life Insurance - China Life Xinxiangbao, Taiping Life Insurance - Taiping Suishuijinsheng, Pacific PICC Life Insurance - Taibao Yishengfu, Taikang Life - Taikang Zhenxiangbai Aged, Xinhua Insurance - Excellent Choice.
Pension insurance companies have just been included in the scope of the pilot, and related products are still being developed and approved.
Yesterday, Gan Weimin, Secretary of the Party Committee, Chairman and CEO of Ping An Annuity Insurance, said in an interview, "The company will actively apply for products and strive to become the first pension insurance company to develop exclusive commercial pension insurance products; Polishing products, aiming at key customer groups, such as flexible employment personnel, such as online car-hailing drivers, Taobao shop owners, etc., create relevant terms for them scientifically and flexibly.”
Flexible payment methods
Various ways to receive pensions
Compared with the existing commercial pension products, the main differences between exclusive commercial pension products are: first, the payment method is more flexible; second, the "guaranteed + floating" income model is adopted to provide different investment portfolios; third, the surrender requirements It is more stringent to guide long-term accumulation of pensions; fourth, it is clear that pensions can only be received after the age of 60, and long-term lifelong pensions are encouraged.
The pilot document issued by the China Banking and Insurance Regulatory Commission requires that the products launched by various insurance companies have the characteristics of simple insurance, flexible payment, and stable income, and consumers can only receive pensions when they are 60 years old and above.
Product design is divided into two stages: accumulation period and receiving period, and the receiving period shall not be less than 10 years.
There are various ways to receive it. After reaching the age of 60, you can receive it for life or for a fixed period. You can receive it annually or monthly.
According to industry insiders, the biggest feature of this exclusive commercial endowment insurance is that the insurance and payment methods are flexible, which can be paid on a monthly, yearly or even one-time basis; payment can be postponed when encountering difficulties and no funds.
Judging from the information disclosed by the six pilot life insurance companies, the exclusive commercial endowment insurance product adopts the "guaranteed + floating" income model, and provides two investment portfolio accounts with different risk preferences for customers to choose from, which are divided into stable and aggressive.
At present, according to the information disclosed on the official websites of 6 companies, each portfolio account has a minimum guaranteed interest rate, and the investment income above the minimum guaranteed interest rate is uncertain, and customers need to bear the corresponding investment risks.
The minimum guaranteed interest rate for the stable account is between 2% and 3%, and the minimum guaranteed interest rate for the aggressive account is between 0% and 1%.
Temporary unemployment can be suspended
Pension account will not expire
During the pilot period, the first person to purchase exclusive commercial pension insurance products was Mr. Liu, a courier boy from Chongqing.
He is 31 years old and has 3 years of experience in the express delivery industry. Although he has basic social security, his income is unstable and the financial pressure of raising children at home is relatively high.
After learning about this exclusive commercial pension product, Mr. Liu believed that after the pension payment, the special fund is dedicated and the insurance starting point is low, which is very in line with his needs for pension supplement products.
The exclusive commercial pension product "Fu Shou Nian Nian" of PICC Life that he purchased supports single payment, regular additional premiums and irregular additional premiums, and regular additional premiums support annual or monthly payment; the type of pension annuity is guaranteed to return the account value for life. , a fixed term of 10 (or 15, 20, 25) years to receive; exclusive personal account management, account security and transparency, and switch between stable account management and aggressive account management according to pension needs.
In addition to pension annuities, "Fu Shou Nian Nian" also provides insurance for severe disability, death insurance, and protection for inheritance of wealth.
According to relevant sources of PICC Life, from the perspective of the distribution of purchased customers, there are mainly couriers, online car-hailing drivers, catering industry foreman, salespersons, agricultural personnel, etc., as well as business people, civil servants, lawyers, company white-collar workers, factory leaders, etc.
Mr. Wang, a 30-year-old car-hailing driver, said, "My family thinks that I have flexible working hours and a good income. The only thing that worries me is the lack of old-age security." Mr. Wang consulted a China Life Insurance Xinxiangbao If you choose to pay monthly and pay for 30 years, the monthly payment will be about 1,000 yuan. After the age of 60, you can receive it for life.
You can choose accounts with different risks according to your risk preference. If you choose a stable risk account, the minimum guaranteed interest rate is 2%, and you are expected to receive 2,300 yuan per month; if you choose an aggressive account, due to the existence of risks, the minimum guaranteed interest rate is 0%, the highest possible Get 6% interest.
It is estimated that the minimum monthly payment is 1,000 yuan, and the maximum monthly payment is expected to be 4,600 yuan.
The insurance company will announce the actual interest rate of the year every year, and the customer can change the account once a year according to the needs at that time.
"The insurance can decide how to pay according to their income. You can choose to pay more when your income is high, and you can pay less when your income is low. If you are temporarily unemployed, you can stop paying, and you can renew the payment when you find a job again, which is flexible and convenient." The sales introduction of exclusive commercial pension insurance, the insured can suspend payment during the financial stress period, and the pension insurance account will not be invalidated.
This group of articles / reporter Lin Lishuang