At present, there are only a few good products in the annuity market, and the "class" is seriously solidified, so is there no other choice?
In fact, when choosing annuity insurance, in addition to the above-mentioned traditional annuity insurance, there is also a "fixed receipt + dividend" dividend-type annuity.
The fixed payment part is the same as the traditional annuity insurance, including pension, surrender benefit (cash value), death benefit, etc.
The difference with traditional annuity insurance is that the purchase of this type of insurance can share the operating surplus of the insurance company, that is, dividends.
Today we're going to take a lookTaikang LifeParticipating annuity insurance——Enjoy the years, can you beat the traditional annuity insurance?
One
Let's take a look at the product details first
1. Underwriting company
The insurance company that enjoys the years isTaikang InsuranceTaikang Life Insurance.
Founded in 1996, Taikang Insurance has been on the list of the world's top 500 companies for six consecutive years, with assets under management exceeding 3.1 trillion yuan as of the end of June 2023.
Its subsidiary, Taikang Life Insurance, is also known as the "Old Seven" together with China Life, Ping An and other insurance companies.
The identity background of the world's top 500 companies, I believe that no one doubts this strong capital background.
2. Product details
There is a lot of content in this piece, so let's pick the more important ones.
First of all, for the minimum investment threshold, it is relatively high, and the minimum for each payment period should be the lowestStandard premium of $100,000to be insured;
In terms of age, both men and women can choose from it60 65 70 years oldPick up at any age;
There are also certain restrictions on the age of insurance, the minimum age of survival pension is 60 years old, and the age of insurance is 0-55 years oldThe minimum age for survival is 65 or 70 years old, and the policy age is 0-60 years oldand the expiration of the payment period does not exceed the age at which the survival insurance benefits begin;
You can choose the frequency of receiving the pensionAnnual or monthly collarHowever, if you need to change to annual payment, you must submit a written application before receiving the annuity
There are also happy yearsBirthday moneyAnd the amount of money is very high, and there is all the birthday allowance for six years in total108% of the premium is invested, which is also a big selling point of this product.
As shown in the figure, if you choose to receive the annuity at a different time, the corresponding time for the payment of the birthday pension is different.
For example, if you choose to receive it at the age of 60 and pay a total premium of 500,000 yuan, the life allowance will be received at the age of 80-85 years old, and it will be paid for a total of 6 years, with an annual payment of 500,000 * 18% = 90,000, a total of 90,000 * 6 years = 540,000, which is equivalent to 108% of the investment of 500,000 yuan.
The death benefit is also based on the end of the life payment, and the death benefit before the end of the payment is greater in the cash value and the premiums paid, and the death benefit will be reduced to zero after receiving the life benefit
Then there are two small highlights, one is the universal account, and the other is the retirement community.
The premium of the main insurance is 200,000 standard insurance, which can be linkedLewin No. 1, the guaranteed interest rate is 2%, and the current settlement interest rate
Initial fee: transferred to a single payment and charged separately
Surrender Partial Benefit: First 5 years, which will not be charged from the sixth year onwards. The premium of the main insurance is 200,000 standard insurance, which can be linkedJiafu No. 3, the guaranteed interest rate is 2%, and the current settlement interest rate
Initial fee: transferred to a single payment and charged separately
Surrender Partial Benefit: First 5 years, which will not be charged from the sixth year onwards. The second highlight is Taikang's retirement community"Taikang Home", I think you have already heard of it,Ranked No. 1 in the countryof senior living communities.
Taikang Group has realized the business model innovation of insurance + pension and adopted an asset-heavy model to operateTake the building yourself and run it yourself
The high-end retirement community is impeccable in all aspects, and has been laid out in 34 core cities across the country, with a total planned land area of about 4.65 million square meters.
There are 6 versions of the acknowledgment, which are the Youth Edition, the Youth Edition, and the Program 1-4.
Among them, Plan 1 is divided into 4 categories, which is the result of Taikang's differentiated stratification of the city.
The super class of optional pension community cities is distributed in first-tier cities, and the first class is distributed in quasi-first-tier cities, and so on.
Take 0-18 years old (youth version) as an exampleMinimum 1 millionThat is, it is guaranteedInsuredand the priority of the policyholder and the policyholder's spouse.
This piece has said a lot, and we quickly entered the return calculation link, and I believe that this piece is what everyone is most concerned about.
II
Enjoy the rewards of the yearsFixed claim sectionwithDividendsComposition, the way of dividends is:Cash dividends
Let's disassemble it, first look at the fixed claim part, and then look at the bonus part.
The assessment of the fixed part is similar to the evaluation of traditional annuities, and it also focuses on the "three golds": pension, surrender (cash value), and surrender money.
Let's take a 40-year-old woman, 5 years old, and 100,000 yuan a year as an example, and take the traditional annuity of the current head as a reference.
Note: The premium is backwards from the sum insured, and the premium of 100,000 corresponds to 1288Sum Insured of 2283.
1. Fixed collection part (guaranteed part).
The first is the pension that is most related to the quality of life of the elderly, and the happy years can only be received every year10,000, the reference group can be received10,000, a whole differencemillion;
In addition, in terms of death benefits, before the age of 67, the amount of death benefits in the reference group will be higher, and after that, the enjoyment years will be higher.
However, the reference group is guaranteed to receive a cash value, and its cash value can last until the age of 90, and the death benefit of enjoying the years is lost after receiving the last birthday payment at the age of 85.
Therefore, on the whole, the death benefit is also a better reference group;
The cash value is also clear at a glance, and the reference group not only has a higher value, but also covers a longer period of time.
Therefore, if you only look at the bottom part, the gap between the happy years and the reference group is not small.
2. Including dividends
When it comes to the bonus part, you can receive dividends from the first year of enjoying the years, so it can also be regarded as a quick-return annuity.
The "three golds" are exactly the same as the previous plate, and the only variable is the dividend column.
So with the blessing of dividends, can the return of enjoying the years exceed the reference group?
Let's look at it more intuitively when we combine the return on surrender (IRR) and enjoy the years by the age of 8018%, reference group 338%；
By the age of 85, enjoy the years 327%, reference group 362%；
By the age of 90, enjoy the years 325%, reference group 383%。
Therefore, even with the blessing of dividends, the supplement to the lifetime cash flow is not large, and there is no reason not to choose the traditional annuity such as the reference group in this case.
III
The above dividend data is based on 100% realization, and it is possible for the dividend fulfillment rate to reach %, or even 200%, which should be speculated in combination with the dividend fulfillment rate and investment ability of Taikang Life's dividend products.
Taikang Life's participating insurance has:PukewithHigh customersPoints, ordinary customers: customers with a single total premium of less than 2 million will enter the participating insurancePersonal Dividend Account
Gaoke: If the total premium of a single sheet exceeds 2 million, it meets the standard of docking with the "Confirmation Letter for Taikang Life Insurance Customers to Stay in the Retirement Community", and the participating insurance will enterLongevity Dividend Account
Taikang's official website disclosed a total ofCumulative 5-year achievement rate from 2018 to 2022, most of which are cash dividend products, altogetherFund.
In terms of sub-accounts, the average dividend fulfillment ratio of Puke's personal dividend account from 2019 to 2023 is as follows
The average fulfillment ratio for 2019-2023 for the longevity dividend account of Gaoke is as follows:
The average dividend fulfillment rate of Gaoke has been above 100% in the past five years, while the average dividend fulfillment rate is basically below 100%, which is a bit of a "robbery of the poor and helping the rich".
However, judging from Taikang Life's "massive" participating insurance products and the stable dividend fulfillment ratio for many years, Taikang's maturity and experience in operating participating insurance are definitely second to none in the industry, and few companies can match it.
Let's take a look at Taikang'sAbility to invest, the main reference indicators are:Comprehensive investment rate of return
Taikang's investment ability has always been good, with the best performance in 2019-2021, and then declined with the volatility of the capital market, but it has also been maintained at the forefront of the industry.
To sum up, Taikang Life's participating insurance reached 10I am optimistic about the fulfillment ratio of 0%, and even for longevity dividend accounts, there can be higher expectations.
Fourth
At the end of the article, in the field of participating insurance, Taikang Life Insurance is definitely an old player, and its asset management capabilities, insurance company strength, and operating experience in participating products are all top.
For the 100-year-old product, it is more suitable for these types of people, one is to value the Baosi brand, and the other is to favor the Taikang Home Retirement Community.
Third, if you can reach the threshold of high customers, then the dividend fulfillment rate of the longevity dividend account is still more likely to reach the dividend than expected, and the income is very considerable.