Bank wealth management insurance is hotly hyped, and the risk of surrender cannot be ignored

  The liquidity of the product is poor, and the cash value of the surrender within 6 years is less than the principal

  "This annuity product of a certain company has a limited sale of 160 million yuan nationwide. You can choose to receive it every year from the age of 60, or you can choose not to receive the accumulated interest. When the maximum holding is 20 years, the annualized interest rate can reach 4.72%; 30 years If you hold it for 40 years, the annualized interest rate can be as high as 6.74%. This product has a sales limit, so you should buy it as soon as possible after the funds are in your account.” Recently, a reporter from Beijing Youth Daily When inquiring about wealth management products as investors in many bank outlets, some wealth management and insurance products have been recommended for many times.

  The bank's wealth management manager said that compared with other bank wealth management products that "do not guarantee capital", this type of insurance can lock in long-term returns, and the most important thing is to ensure that there is almost "zero risk".

However, the reality is not so simple. In fact, the cash value of the product will be lower than the principal if the product is surrendered within 6 years, and the cumulative surrender will reach the annualized simple interest of 3.69% from the 7th year. Do you buy such a product? ?

  Hot fried products

  "Universal insurance" product threshold is low

  Since the beginning of this year, regardless of the four major banks or commercial banks, the interest rates of time deposits and large-denomination certificates of deposit have been falling all the way.

With the implementation of the new asset management regulations, the original "capital-guaranteed wealth management" has withdrawn from the historical stage, and it seems that there are fewer and fewer products that can be guaranteed.

  A reporter from Beiqing Daily visited a number of bank outlets and found that under this background, bank wealth management insurance was once again hotly hyped.

A number of financial managers said that customers come to inquire every day, and as soon as a new product is launched, it will be sold out within a few weeks.

The main products of each bank are different, but it can be said that under the normal operation of insurance companies, the cash value of insurance products is guaranteed and almost "risk-free", such as some annuity insurance, pension wealth management, whole life insurance and other insurance wealth management products. Insurance can lock in long-term income, which is still very attractive to customers who pursue long-term stable income.

  Some bank outlets strongly promote endowment insurance or annuity insurance with fixed benefits. Most of the products have a term of 5 years, and the annualized income after 5 years is more than 4%.

"It can be deposited as a fixed deposit, and the contract will clearly state how much it is to withdraw in different years. Recently, this product has been selling very well, and there are customers who pay 50,000 yuan and 100,000 yuan a year." The wealth management The manager said that the sales plan for this product is before the end of April, but if the national sales limit is reached in advance, it will not be available.

  A financial manager of a joint-stock bank outlet focused on recommending a universal insurance.

One-time deposit, the threshold is low, 10,000 yuan or 20,000 yuan can be used, and the principal will be guaranteed after one year, similar to the previous products that rely on file interest, after 5 years, you can get up to 4.62% of the annual interest rate quantified earnings.

  Another large red poster posted at the door of the outlet of another large bank shows the words "estimated income in three years from 4.0%", "estimated income in five years from 4.3%" and "estimated income in six years from 4.6%".

"The three-year, five-year universal insurance is no longer available," explained a wealth manager.

  investors say

  The 30-year annualized interest rate is only 5.65%

  Ms. Wang has a sum of 800,000 yuan due. She wants to purchase wealth management value-added products. The bank wealth management manager recommended a product with an annualized rate of return of 3.69%-5.65%, which made her excited.

  The bank's wealth management manager told her: "Now the 3-year fixed deposit rate of 3.35% is often sold out. In the past 7 years, the interest rate has been reduced 6 times. In May, it should soon usher in another reduction, and it is estimated that it will be directly below 3%. This is an insurance with long-term interest-locking function. The annuity product of a company needs to invest the principal for 3 consecutive years, and then when the maximum holding time is 20 years, the annualized interest rate can reach 4.72%; after 30 years, the annualized interest rate can be Up to 5.65%; when holding for 40 years, the annualized interest rate can be as high as 6.74%.

  "If you hold it for 30 years, you can get an annualized interest rate of 5.65%. This kind of investment is still very risky. What if the intermediate interest rate rises? I have no chance to adjust it." Ms. Wang did not buy this product in the end.

  This insurance product needs to be held for a long time, and is less liquid than ordinary 3-5-year time deposits and other products. The bank wealth management manager also said frankly, "This type of product is not allocated by a large proportion of customers, but is used as part of stable asset allocation. , most people are allocated 10%-20%. And it is not a one-time allocation, and the payment is paid in 3 years.”

  There is also a type of increased whole life insurance on the market which is essentially a type of whole life insurance product. Under the condition of constant premiums, the sum assured of the increased whole life insurance will continue to increase over time, that is, the older the age, the more the corresponding sum assured. .

If you surrender your policy, you will receive the corresponding cash value.

  People in the industry reminded that if the short-term expected annualized income is not ideal, and there is a surrender in the middle, even the principal may not be guaranteed.

Taking an increased whole life insurance product as an example, without triggering the death and total disability insurance benefits, the first five years after the insurance is not only zero income, but also the principal is surrendered. If the insurance is surrendered in the first year of insurance, the principal Losses can be nearly 50%.

  Surrender risk

  The loss of surrender principal in the first year exceeds 50%

  However, on the other side of the solid returns is an important risk of insurance products that cannot be ignored, namely the poor liquidity of the products.

  A reporter from Beiqing Daily inquired about the terms of the product and saw that the risk of surrender in the middle cannot be ignored, and the loss of principal in the first year of surrender exceeds 50%.

Taking this annuity insurance as an example, the annual investment in the first to three years is 1 million yuan. If the policy is surrendered in the first year, only more than 490,000 yuan can be refunded, that is, the principal loss exceeds 50%; the surrender in the second year can only be refunded. More than 1.12 million yuan, the principal loss is 44%; in the third year, the surrender can only refund more than 1.86 million yuan, and the principal loss is about 38%.

By analogy, the cash value of the surrender within 6 years is less than the principal, and the annualized simple interest of 3.69% will only be reached after the cumulative surrender from the seventh year.

  The risks of purchasing long-term annuity insurance cannot be ignored for those who plan to change their house within 3 years, may change their car within 5 years, or may have other large household expenditure needs within 3-5 years.

  An industry insider said in an interview that when it comes to wealth management products, attention should be paid to profitability, safety and liquidity.

How long is the financial management period, and can the urgent money be withdrawn?

Actual yields may be lower than expected yields, etc.

Before applying for insurance, it is necessary to understand the terms of the product nature, deposit period, deposit method, and early surrender losses, so as to avoid inconsistencies with expectations after insurance.

  Text/Reporter Lin Lishuang