"Blowing the Horn of Consumer Protection Gold, Financial Knowledge Qilu Xing" Issue 10 - Find "Sleeping Policies" Activate "Sleeping Account" supervision to take you to find sleeping wealth.
In the fourth quarter of 2023, the State Administration of Financial Supervision and Administration will organize the clean-up of insurance "sleeping policies" and the reminder of "sleeping accounts" of banks. Li Zhen and Li Xiaoxue, members of the Golden Horn Volunteer Team of the Shandong Supervision Bureau of the State Administration of Financial Supervision and Administration, introduced what needs to be paid attention to.
In the fourth quarter of 2023, the State Administration of Financial Supervision and Administration will organize the clean-up of insurance "sleeping policies" and the reminder of "sleeping accounts" of banks.
The specific meaning of "sleep policy": Specifically, the "sleep policy" in this clean-up mainly refers to: (1) "the policy that compensates for the unclaimed insurance money", that is, the life insurance policy that has not been paid for more than one year since the date of closure of the claim settlement between January 1, 2013 and June 30, 2023; (2) "Policies with unclaimed insurance benefits at maturity", i.e., life insurance policies that generate pending maturity benefits from January 1, 2013 to June 30, 2023, and the customer should receive more than zero insurance benefits for one year; (3) "Policies with Suspension or Termination of Contract", i.e., life insurance policies with a cash value greater than zero and one year since the termination of the insurance contract between January 1, 2013 and June 30, 2023.
In the most popular words, it is to find the owner's forgotten policy, for example, I bought insurance, but I changed the policy halfway through, and the payment was interrupted and the policy became invalid, and I forgot about it and did not return the cash value, or the elders in the family bought annuity insurance, and it was time to receive it, and I didn't know it, etc.
The reason for the "sleep policy": an important reason is that some insurance protection period is relatively long, take some of the life insurance types we usually see, their protection period can reach 20 to 30 years, and some of them can get lifelong protection after a certain period of payment, and the frequency of such insurance is relatively low, so that many consumers will slowly forget the existence of this policy after many years after buying insurance.
How to inquire about the "sleep policy": Consumers can enjoy a one-stop query service in the "Golden Service" APP that has now been launched, and its query function has also been officially launched on December 18, 2023, and the specific operation method is as follows: Consumers need to first ** "Golden Service" APP, and after passing the real-name authentication, they can query the relevant information of their "sleep policy" as the policyholder and the insured in the "Sleep Policy" module under the "Common Services" item on the home page of the APP. Moreover, you can directly contact the insurance company to which the "sleep policy" belongs through the "contact insurance company" button inside, so as to realize the "granular return" of policy rights. Moreover, not only the sleep policy, but also all the life insurance contracts we bought in the past can be queried on the "Jinshitong" APP.
The specific meaning of "dormant account": it mainly includes: (1) a current savings or settlement account (excluding credit card account) that has not been actively traded for 5 years or more; (2) Fixed deposit accounts that do not automatically roll over at maturity and have not had active transactions for 5 years or more from the date of maturity.
Causes and harms of "sleeping accounts": most consumers will have a few bank cards in their wallets that have not been used for a long time, and we have unconsciously handled multiple bank cards, but many cards are not used normally, and some have forgotten them, and these bank card accounts are likely to form "sleeping accounts". Some criminals use leasing, buying and selling to obtain a large number of bank accounts, so that many "dormant accounts" become their capital channel tools, infringing on the legitimate rights and interests of financial consumers.
How to find "dormant accounts": Banking institutions have successively begun to remind and notify such account holders through announcements, notices, outbound calls, mobile phone text messages, WeChat or mobile banking push messages and other means through business outlets, official and WeChat***. Consumers can take the initiative to pay attention to the relevant news promoted by the official websites of various banks and ***, and understand their account status through this activity.
In general, the clean-up of "sleeping policies" and the reminder of "sleeping accounts" of banks are regarded as a two-way rush between bancassurance and our consumers, and are also a major measure taken by the State Administration of Financial Supervision and Administration to practice the political and people's nature of financial work and safeguard the legitimate rights and interests of financial consumers. Consumers can take this event as an opportunity to gain an in-depth understanding of various financial rights and further optimize the allocation of their financial resources.