In recent years, some institutions and individuals for the purpose of illegal profit-making, pretending to be financial regulatory departments, consumer associations, insurance companies, etc. to carry out "surrender wealth management" and "full surrender" behavior, they use "full surrender" as a gimmick, induce consumers to handle surrender, and transfer the surrender money to the "high-yield wealth management products" recommended by them, not only undermine the order of the financial market, induce illegal fund-raising and other risks, but also directly cause losses to the people's property.
OneWhat is Surrender Financing?
Some institutions and individuals use the gimmick of surrender to induce consumers to surrender their insurance policies and purchase the so-called "high-value" wealth management products or other non-insurance financial products recommended by them.
IIHow does surrender** work?
By calling insurance consumers** and other means, claiming to be a staff member of the financial regulatory department, consumer association, or insurance company, in order to gain the trust of insurance consumers, and obtain their personal information such as policy number, ID number, and bank card number.
It said that the income of insurance products held by insurance consumers is low, and it recommends high-yield "wealth management products" in the name of "customer after-sales service", "policy income upgrade compensation" and "gifts".
Persuade insurance consumers to purchase so-called "wealth management products" to receive subsidies, and surrender funds to purchase "wealth management products" to get interest discounts or travel vouchers, etc., and induce insurance consumers to purchase "wealth management products" after applying for surrender or policy pledge loans.
IIICase Classroom
Consumer Li recently received a call from a person claiming to be a staff member of an insurance company. The other party told Li that the return of this policy under his name was too low, and it could help convert it into a product with a yield of 15%. Under the guidance of this staff member, Li came to the customer service center to handle the surrender. After completing the surrender of the policy, he was persuaded to sign a "conversion contract" that claimed to be a "certain day to enter the gold wealth management product". A few months later, the staff lost contact and the wealth management products could not be cashed, and Li found out that he had been deceived, and it was later verified that the staff member was not an employee of the insurance company, and he fell into the trap of illegal fundraising.
FourthHow to prevent it
Correctly understand the function of insurance
The main function of insurance is to provide risk protection. Life insurance takes the life or body of the person as the subject of insurance, and the insurance company will pay insurance compensation in accordance with the provisions of the insurance contract in the event of old age, illness, disability, death, etc. Although some life insurance products have both investment functions, they are still insurance products in nature, mainly focusing on protection functions. Insurance consumers are advised to surrender their insurance policies cautiously to avoid losing their insurance coverage.
Don't be financially charged at high interest rates**
"Wealth management products" with high returns as the selling point may be suspected of illegal fundraising, causing huge losses to investors. In order to avoid being deceived, it is recommended that insurance consumers do not believe in "surrender wealth management" and achieve "three refusals": refuse to believe in high-interest "wealth management" and the high returns promised in the name of insurance companies; Refuse to be impressed by bait such as gifts and "interest first"; Refuse to sign investment and wealth management agreements with salespeople in their personal names and salespeople to issue receipts in their personal names.
Safeguard their own rights and interests in accordance with the law
If an insurance consumer encounters a suspicious invitation, he or she can check the personnel, products, and address through official channels such as the insurance company's official ** and customer service**, and verify whether the salesperson is a salesperson of the insurance company, whether the product sold is a product of a regular insurance company, and whether the address left is the business address of the insurance company and its branches. In addition, in case of "surrender and wealth management"**, it is recommended to retain relevant evidence and report the case to the public security organ in a timely manner.
On the one hand, abnormal surrender will lead to the loss of insurance protection for consumers, and when they re-apply for insurance in the future, due to changes in age and health status, they may face the risk of recalculating the waiting period, premium** or even being denied; On the other hand, most of the surrender funds are induced to switch to "wealth management products", and the surrender funds are not guaranteed, which may be suspected of illegal fundraising risks. Therefore, insurance consumers must keep their eyes open and be wary of such pitfalls.
*: Beijing Economic Investigation.