I don't know if you feel that there seem to be more unemployed people recently, and people don't seem to spend much, they are saving money, as if the "winter" has not passed.
And the cold wind has also blown into the insurance industry.
The recent succession of major events will not only make people in the industry tremble, but will also have a profound impact on every insurance consumer.
So, what's really going on lately?What are the specific implications?Today we will talk about it in detail.
Recently, a number of village and township banks have officially announced interest rate cuts, such as the 5-year lump sum deposit interest rate from 35% down to 32%, 100,000 yuan is deposited, and 1,500 yuan less is taken at maturity.
Looking at the market as a whole, deposits with interest rates above 3% are becoming less and less common.
The main investment targets of insurance companies are fixed income products such as deposits and bondsAs interest rates fall, so do insurance companies' investment returns. In addition, as a secondary investment target, the **, etc. are not very stable, and this year's big A jumps up and down at about 3000 points.
Under the combination of multiple factors, the investment performance of insurance companies this year is mediocre.
Not long ago, the regulator announced that the financial return of the insurance industry in the first three quarters was only 292%, compared to an annualized financial return of 5 over the past 10 years28%。
In addition to this, two major events have happenedFirst, a number of banks have suspended the sale of insurance products.
The reason is that the regulatory requirements are implemented in the "integration of newspapers and banks", and some products that do not meet the requirements will be temporarily removed from the shelves for adjustment. The reason for the implementation of this policy is mainly because the investment income has declined, which cannot cover the operating expenses of the insurance company.
Second, according to the statistics of the platform, the settlement interest rate exceeds 5%.Universal Insurance, there is only 1 left, most products settle at a rate of 35%~4.5% range.
Take the familiar Hetai Duoduo multi-million energy insurance as an example, at the beginning of the year it was still 47%, which has now dropped to 41%, which is a very significant decrease.
The above two things reflect the investment pressure of insurance companies from the sideIn order to cope with the investment pressure, the income of savings insurance may be further reduced in the future.
The pricing of insurance products is mainly related to the following three rates:
Predetermined incidence:It has to do with how much money you lose;
Predetermined Interest Rate:It's about the ROI you give to your customers
Booking Fee Rate:It is related to the operating expenses of the insurance company, such as commissions and publicity expenses.
Savings insurance has little protection liability, so the predetermined incidence rate has little impact on income.
And the scheduled interest rate, not long ago just from 35% down to 30%, it is unlikely to be adjusted in a short period of time, after all, an adjustment of the industry will hurt the bones. Therefore, the main factor that affects the income of savings insurance is the predetermined expense rate.
So, what exactly are the implications?Let's take a look.
1. The income of ordinary savings insurance may be reduced
After the implementation of the integration of newspapers and banks, the predetermined expense rate may be increased, and the income we get will be reduced under the premise that the predetermined interest rate remains unchanged.
For example, at present, the yield of ordinary increased life can be close to 30%, which may be reduced to 27~2.8%, 500,000 yuan to put in, the 30th year to take about 100,000 yuan less.
On the other hand, the upfront cash value of a savings insurance policy may be lowerProducts like the one that can exceed the premium in cash value after 5 years may become less and less common.
2. Participating savings insurance may be more common
In the context of declining interest rates, participating insurance will have a certain benefit, because participating insurance can invest a larger proportion of equity assets, and the income is less affected by market interest rates.
For us, participating insurance is also a good considerationWhen the insurance company invests badly, we can have a guarantee of about 2%, and when the investment is good, we can enjoy higher returns than ordinary savings insurance.
In addition to adjusting the predetermined expense rate, it is not excluded that the predetermined interest rate will be lowered if the return on investment continues to fall in the future. For example, from 1999 to 2013, the insurance industry's predetermined interest rate remained at 2.2 for 14 years5%。
In general, it may be more rare for savings insurance with a guaranteed income close to 3% in the future, and if there is an insurance need, you may wish to pay more attention to it.
We have also sorted out the current high-yield increased life and pension insurance, which can be interestedClick the small card
It has to be said that 2023 is an unusual year for the insurance industry.
In this year, we have seen many major events happen, such as the establishment of the National Financial Authority, the takeover of a number of insurance companies, 3The 5% predetermined interest rate product is no longer available.
Fundamentally, this is to promote the healthy and long-term development of the insurance industry and protect the interests of consumers.
We also look forward to the better development of the insurance industry after this "cold winter" and provide more reliable protection for consumers and society.